| 571. | Mortgage Rates Head Down Again
Strong buying of U.S. Treasuries yesterday on the heels of the minutes of the October meeting of the Fed, and a group of bond friendly economic reports this morning sent prices up and yields, which move in the opposite direction of price, down. The TTraders were greeted early with news that the producer price index (PPI) in November fell 0.3 percent when a slight increase was expected. The PPI checks for inflation at the wholesale level. This is the first time the index has fallen since May, wit..
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| Friday, December 12, 2003 |
| | 572. | Mortgage Rates Hover Near Recent Low Levels
The equity markets today have been trading to the upside. Investors were generally pleased with the increase in retail sales. In corporate news, Home Depot was trading up almost 4 percent after the company said that it had completed its $1 billion sSignificant economic news today from the U.S. Labor Department showed that the number of people filing claims for unemployment benefits increased 13,000 from a revised reading of 365,000 the previous week to 378,000 in the week ended December 6th. A..
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| Thursday, December 11, 2003 |
| | 573. | Fed Leaves Interest Rates Unchanged, Treasuries Dive
The Federal Open Market Committee announced that fed funds would remain at the 41-year low of 1 percent, and it also stated that interest rates would remain low for a "considerable period." This news sparked a short-lived rally in Treasuries, as tradStocks opened to the upside, but it wasn't long until profit takers swarmed the Nasdaq. The tech heavy index is up almost 46 percent this year, so many of the stocks are ripe for picking and the index gave back more than 2 percent today. The chip..
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| Tuesday, December 09, 2003 |
| | 574. | Fed Leaves Interest Rates Unchanged
The Federal Open Market Committee (FOMC) announced that fed funds would remain at a 40-year low of 1 percent. It also left its statement regarding its stance unchanged, maintaining that interest rates would remain low for a "considerable period." ThiFurther details will follow. , ..
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| Tuesday, December 09, 2003 |
| | 575. | Mortgage Rates Move Lower Again
The equity markets have been trading both to the upside and to the downside today. Among the movers, Microsoft was trading up , as was General Motors, Altria, and Boeing. CV Therapeutics, Health Management Associates, and Motorola have been tradingThere was no new significant economic news today. Thus, investors and traders are left to depend on political and corporate news in order to gain a perspective. Since there was no major political news today and since the Federal Open Market Committ..
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| Monday, December 08, 2003 |
| | 576. | Mortgage Rates Fall as Treasuries Rally
U.S. Treasury securities staged a celebration today due to relief over the November employment report. Bond traders fretted that strong job numbers would influence the Fed to change its bias and increase interest rates sooner than expected. As a resuThe employment report has its way with Wall Street. Stocks tumbled on disappointment that more jobs were not added. A less than stellar report from Intel put pressure on techs, and it spread throughout the markets. Not only did the world's bigge..
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| Friday, December 05, 2003 |
| | 577. | Mortgage Rates Hover Near Recent Levels
The equity markets today traded in both positive and negative territory. The unemployment claims had little impact on the markets. In corporate news, Intel, Cisco Systems, and Qualcomm were trading up. On the other hand, Best Buy, Circuit City, CaSignificant economic news today from the U.S. Labor Department showed that 11,000 people filed claims for unemployment benefits, raising the claims from a revised 354,000 the previous week to 365,000 in the week ended November 29th. Economists had e..
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| Thursday, December 04, 2003 |
| | 578. | Mortgage Rates Remain Near Recent Levels
The equity markets have been trading today to the upside. Investors had a positive response to the Labor Department’s third quarter business productivity report. In corporate news, Merck was trading up around 3.5 percent after the company forecast Significant economic news today from the Labor Department’s revised third quarter nonfarm business productivity report showed that U.S. business productivity rose at the fastest pace in 20 years. Third quarter output was up at a 9.4 percent annual r..
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| Wednesday, December 03, 2003 |
| | 579. | Mortgage Rates Remain Unchanged
U.S. Treasury securities opened under pressure again, as the dollar continued to fall on concerns about the trade deficit. A report detailing a decrease in announced layoffs last month temporarily increased selling. Due to the lack of any economic reTwo weekly retail sales surveys showed lackluster sales in November. The Instinet Redbook, which monitors sales at a broad range of retail outlets, showed them down 2.8 percent in November from October. They were, however, up 4.4 percent versus one ..
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| Tuesday, December 02, 2003 |
| | 580. | Mortgage Rates Move Up
U.S. Treasury securities sold off today in response to a sinking dollar, concern about the current account deficit and fear that strong economic news--especially from the manufacturing sector--would bring about a rate increase a lot sooner than expecStocks opened to the upside today on the strength of reports of strong holiday sales over the weekend. The Institute of Supply Management's (ISM) index of November manufacturing conditions sent the markets even higher, and kept them there all day..
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| Monday, December 01, 2003 |
| | 581. | Mortgage Rates Remain Near Recent Levels
The equity markets today began trading slightly to the upside, and then slipped into negative territory. Most of today’s economic news was relatively positive. In corporate news, Xerox was trading up 3 percent, while Johnson & Johnson and Boeing weSignificant economic news today from the Commerce Department said that orders for durable goods (those expected to last three years or more, such as automobiles and computers) were up 3.3 percent to a seasonally adjusted $184.53 billion in October. ..
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| Wednesday, November 26, 2003 |
| | 582. | Mortgage Rates Remain Unchanged
U.S. Treasury securities recouped most of yesterday's losses even in the face of strong economic news. A big upward revision in 3rd quarter gross domestic product (GDP) and a 10-point jump in consumer confidence would normally send stocks into orThe GDP, the broadest measure of the nation's economy, rose 8.2 percent--the biggest jump since the 1st quarter of 1984. Consumer spending was revised slightly downward, but purchases of durable goods and autos were healthy. Home sales were also ..
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| Tuesday, November 25, 2003 |
| | 583. | Mortgage Rates Hold Relatively Steady
The equity markets began the day trading today to the upside, and they have remained there all day. In corporate news, Boeing is trading down after it said that it has fired its chief financial officer and another executive for unethical conduct relThere was no significant economic news today. Thus, investors have been looking to political and corporate news to help give them a sense of direction. They have been especially watching the Medicare bill that passed the U.S. House of Representative..
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| Monday, November 24, 2003 |
| | 584. | Mortgage Rates Hold Firm
It was a lackluster day for the financial markets, with no economic reports to provide guidance. Although the stock markets eked out gains for the day, they failed to close positive for the week for the second consecutive time. U.S. Treasury securitiBuying in technology shares allowed the Nasdaq to make a respectable (plus 0.64 percent) gain, with all the bellwethers except Qualcomm in positive territory. The two storied stocks on the Nasdaq, however, were of the tragic variety. Brocade lost 16 ..
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| Friday, November 21, 2003 |
| | 585. | Mortgage Rates Edge Slightly Back Up
The equity markets today have been trading in both positive and negative territory. Investors are nervous because of the new terrorist explosions in Turkey that killed 26 people and injured hundreds and because of the evacuation of the White House duSignificant economic news today from the U.S. Labor Department showed that 355,000 people filed new claims for unemployment benefits in the week ending November 15th compared to 370,000 in the previous week. This drop of 15,000 was larger than a 5,0..
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| Thursday, November 20, 2003 |
| | 586. | Mortgage Rates Remain at Lower Levels
It was another good day for U.S. Treasury securities--the fifth in a row. A benign consumer price index (CPI) for October, continued profit taking on Wall Street and reassuring words from Fed officials joined forces and sent prices on longer-term TreThe CPI, which checks for inflation at the retail level, came in flat for October when analysts were expecting a slight uptick. The core rate, which eliminates volatile food and energy prices, rose by 0.2 percent--a touch stronger than expected. The ..
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| Tuesday, November 18, 2003 |
| | 587. | Mortgage Rates Continue to Slide
Terrorist attacks on two synagogues in Turkey over the weekend and the downing of two Blackhawk helicopters that killed 17 soldiers sent money to U.S. Treasury securities. Adding to the movement of money heading to the safe haven was Al Qaeda's cTwo positive economic reports were ignored by Wall Street, as investors focused on rotating money out of some issues that have prospered over the year--technology, cyclicals, and retail, for example--and moving it into sectors, such as pharmaceutical..
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| Monday, November 17, 2003 |
| | 588. | Mortgage Rates Moving Down
U.S. Treasury securities continued their winning ways today in the wake of a three-day rally based on the successful auction of 3-, 5-, and 10-year notes. The new government issues were bought aggressively, with a good percentage going to foreign banDisappointing retail sales for October sent stocks down at opening and boosted Treasuries. Sales fell 0.4 percent, with a decline in auto sales responsible for much of the downward move. Excluding auto sales, retail sales came in at plus 0.2 percent,..
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| Friday, November 14, 2003 |
| | 589. | Mortgage Rates Remain Near Recent Low Levels
The equity markets today have been trading mostly in negative territory because of weak economic news and disappointing corporate news. Thus, the equity markets were mostly down, while the bonds were up in yields. Wal-Mart was trading down after reSignificant economic news today from the U.S. Labor Department indicated that the number of people filing new claims for unemployment benefits was up 13,000 from a revised 353,000 in the previous week to 366,000 in the week ended 11/8. This was a li..
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| Thursday, November 13, 2003 |
| | 590. | Mortgage Rates Stagnate
The bond markets were closed today in observance of Veterans Day, and there was little activity on Wall Street. Money sat idly on the sidelines waiting for economic news, which didn't come. Stocks closed down for the third straight session. WithStocks opened in negative territory on light profit taking after hitting multi-month highs last week. Although news from the retail sector was largely positive, it was not strong enough to move the broader market. Upgrades on a handful of retailers a..
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| Tuesday, November 11, 2003 |
| | 591. | Mortgage Rates Hover Near Recent Levels
The equity markets today began trading mostly to the downside. The markets are under pressure from recent gains despite some positive news concerning the technologies. With no new significant economic news, investors are searching for a sense of diSince there is no significant economic news today, investors are looking to corporate and political news to gain a sense of direction. In corporate news, a chipmaker was upgraded by J.P. Morgan from neutral to overweight and the sales and earnings ..
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| Monday, November 10, 2003 |
| | 592. | Mortgage Rates Rise on Strong Employment Numbers
A drop in the October unemployment rate to 6 percent and the addition of 126,000 jobs ignited selling in U.S. Treasury securities. The yield on the benchmark 10-year note hit its highest level since mid-August, after creeping up for the last couple oThe employment numbers rattled the Treasury market but they had almost no effect on Wall Street. The stock indices opened with moderate gains then drifted into negative territory, where they all eventually closed. The week, however, turned out to be ..
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| Friday, November 07, 2003 |
| | 593. | Mortgage Rates Edge Up Some More
The equity markets today traded mixed most of the time. Most of the indexes were moderately down, while the NASDAQ was slightly up. The NASDAQ was bolstered by the good quarterly report from Cisco at the end of the trading day yesterday. Late in thSignificant economic news today from the U.S. Labor Department said that jobless claims dropped 43,000 from a revised 391,000 in the previous week to 348,000 in the week ended November 1st. This was much lower than the 380,000 that economists had ex..
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| Thursday, November 06, 2003 |
| | 594. | Mortgage Rates Hold in Spite of Sell-off
A couple of upbeat economic reports put pressure on U.S. Treasury securities early in the session, and there was no news to lift that pressure all day. Treasuries, which made some small gains yesterday, gave them back today--and then some. Factory orStocks also traded in negative territory for the better part of the day. The Nasdaq, however, battled to the end and finally broke into positive territory--if only barely--just before closing. The tech bellwethers were split between negative and posi..
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| Wednesday, November 05, 2003 |
| | 595. | Mortgage Rates Hold Near Yesterday's Levels
U.S. Treasury securities got a break after selling off on strong economic news yesterday. Today a little profit taking in technology stocks and a lack of direction due to a dearth of economic or corporate news sent stocks down and encouraged moderaTwo retail surveys indicated increases last week. The BTM-UBS Warburg report on chain store sales showed a 0.5 percent rise over the previous week and a 5.1 percent jump versus year-ago sales. Sales were hurt by the fires in California and unseasonab..
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| Tuesday, November 04, 2003 |
| | 596. | Mortgage Rates Edge Up a Little More
The equity markets today have been trading in positive territory. The markets have been buoyed by strong economic reports today concerning new construction and manufacturing conditions. In corporate news, the Semiconductor Industry Association said Significant economic news today from the U.S. Commerce Department showed that new construction in September was up 1.3 percent to a seasonally adjusted $910.6 billion from $898.8 billion in August. Analysts had expected a 0.3 percent increase. Also..
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| Tuesday, November 04, 2003 |
| | 597. | Mortgage Rates Hold
Lackluster economic reports gave U.S. Treasury securities traders the confidence they needed to start buying again. Yesterday's strong showing from 3rd quarter GDP had traders heading for the hills while bond prices sank and yields rose. TodayStocks ignored the economic news for the most part, trading in a narrow range not too far from breakeven. The Dow Jones and S&P 500 managed to close in positive territory with slender gains, but the Nasdaq didn't make it, closing with the narrowe..
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| Friday, October 31, 2003 |
| | 598. | Mortgage Rates Move Back Up
The equity markets began trading in positive territory today on very good economic news from the Commerce Department concerning the third quarter gross domestic product. The jobless claims report was also good. Consumer spending and stability in th Significant economic news today came from the U.S. Commerce Department. The department reported that the third quarter gross domestic product (GDP), which is the strongest measure of economic activity, increased at a 7.2 percent annual rate, follow..
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| Thursday, October 30, 2003 |
| | 599. | Mortgage Rates Edge Somewhat Lower
The equity markets have been trading somewhat mixed—some up and others down. Investors have pulled back a little to take some profits from recent gains and to contemplate the Federal Reserve’s comments on the state of the economy. In corporate newsThere was no significant economic news today. Therefore, investors have been relying on corporate and political news to help them achieve a sense of direction. There was just a little corporate news early in the trading day. A major Dow component ..
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| Wednesday, October 29, 2003 |
| | 600. | Fed Leaves Interest Rate Unchanged
The Federal Open Markets Committee (FOMC), as expected, left interest rates unchanged. The Fed Funds Rate remains at a 41-year low of 1 percent. The Fed also maintained a neutral bias, stating that the upside and downside risks to the economy remain Stocks spiked on the news, but have returned to pre-announcement levels. U.S.Treasury securities, however, are rallying on the news., ..
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| Tuesday, October 28, 2003 |
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