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Market Brief – Monday 7/6/20

Global equities surged in overnight trading after China encouraged its citizens to buy stocks. Treasury yields rose on the news and the dollar fell, helping boost global equity prices into today’s market open. Stocks held their overnight gains in early trading, while Treasury yields were slowly falling. The Markit Services PMI came in at 47.9 … Read more

Market Brief – Thursday 7/2/20

Stocks and Treasury yields popped in pre-market trading as computer algorithms celebrated the June Nonfarm payroll report which beat expectations, even though American’s returning to work will be making less money. Stocks and Treasury yields were giving back their pre-market gains in early trading. The BLS Nonfarm payroll report beat expectations by showing 4.8 million … Read more

Market Brief – Wednesday 7/1/20

Stocks and Treasury yields popped as the markets opened after Pfizer announced positive results from a vaccine test on 24 subjects. Stocks and Treasury yields were soon to reverse direction after Arizona reported a record number of daily cases. Mortgage applications fell -1.8% last week as purchase applications fell -1.3% and refinance applications fell -2.2%. … Read more

Market Brief – Thursday 6/25/20

Stocks were down slightly in overnight trading and directionless in early trading as unemployment claims refuse to fall. Treasury yields fell in overnight trading and were holding their overnight drop in early trading. Initial jobless claims missed expectations by coming in at 1.480 million new claims, which brought the four-week average for jobless claims down … Read more