Market Brief – Wednesday 11/11/20

Despite parts of Europe in lock down and a record number of Covid-19 cases in the U.S. yesterday, U.S. equity futures rose in overnight trading while Treasury yields were flat. Commodities also rose in overnight trading while precious metals fell. Not much changed in early trading.

Mortgage applications fell -0.5% last week as purchase applications fell -2.6% and refinance applications rose +0.6%.

After giving back some of its gains after the state of New York announced new Covid-19 related restrictions, stocks rallied back to close higher on the day. Treasury yields fell on the same news to close lower on the day.