http://MikesDailyMarketReport.com:  Sorry, I forgot to mention in the video that there won't be a video tomorrow, as I will be out tomorrow.  As for today's economic data, there's a few items to go over.  We'll start with the Initial Jobless Claims, which is trending downward (good news) to 269k.  Also, the Continued Claims dropped off by approximately 100k from last week.  However, this isn't taking into account for the people being let go due to vax mandates.  The Challenger layoffs spiked from 17.895 million announced layoffs in September to 22.822 million in October.  This could be an indicator of the amount of people being forced out of the workforce due to vax mandates.  Unfortunately, the Media isn't reporting on this!  Lastly, we have the Q3 Labor Costs and Productivity.  Labor ... 11/04/2021

http://MikesDailyMarketReport.com:  ADP reported 571k new hires for Private Payrolls for the month of October.  This is the first of the October Jobs data this week.  Factory Orders grew by 0.2% in September (topping unchanged forecasts).  The ISM Non-Manufacturing PMI jumped up from 61.9 to 66.7 in October.  Anything above 50 for this index is expansion.  Other Services (globally, like the Caixin in China) were also showing very robust numbers for the Services industry for the month of October.  Later today is the wrap on the FOMC, which Fed Chair Powell will give his announcement.  It is highly anticipated that he will address the tapering plan; and investors are now also wanting conversations about rate hikes.  We'll look to see if he addresses the latter.  MBS started the morning hi... 11/03/2021

http://MikesDailyMarketReport.com:  There are no economic data to report today.  However, the FOMC begins today, which is the Fed's 2 day meeting, and provides their rate announcement tomorrow.  Rates are expected to remain Unchanged, but it might provide us with some insight on when they may begin raising rates.  Most are speculating by mid-2022.  Also, it is widely anticipated the Fed will announce their tapering plans tomorrow.  Tomorrow is also the first day of the October jobs data being released (ADP tomorrow, Initial Jobless Claims on Thursday and BLS' Non Farm Payrolls on Friday).  Stocks continue to rise on Investors approval of the Q3 Earnings reports.  Meanwhile, MBS was able to break above the 25 DMA yesterday, and has currently risen a bit more.  It is currently Up 2bps.  M... 11/02/2021

http://MikesDailyMarketReport.com:  The ISM Manufacturing PMI dropped from 61.1 in September to 60.8 in October.  Anything above 50 is considered expansion.  Meanwhile, stocks are still rising, as Investors value the profit making in the Q3 Earnings Reports despite the issues with labor- and supply chain issues, along with inflation.  MBS started the day lower, but is now back up toward the 25 DMA and currently Down 8bps.  This is not enough to see any Mortgage Rate change.  Yields worked similarly, as they rose above the 25 DMA and another Technical level.  They're currently at 1.59%.Please subscribe to my YouTube Channel at MikesDailyMarketRptAlso, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like inform... 11/01/2021

http://MikesDailyMarketReport.com:  Employment Costs went up 1.3% during the 3rd Quarter, while Wages increased the most at 1.5% and benefits at 0.9%.  However, Personal Income dropped 1.0% in September, but Consumer Spending was up 0.6%.  The big data for this week is the PCE, or Personal Consumption Expenditure, which it's Core PCE is the Fed's favorite barometer for Consumer Inflation.  The PCE rose 0.3% in Sept., as it's YoY increased from 4.3% to 4.4%.  The Core PCE (excludes food & energy) rose 0.2%; and it's YoY remained Unchanged at 3.6%.  As we all know that food and energy have been rising quite a bit -we feel it at the grocery store and gas pumps.  Manufacturing revved up in October for the Chicago region, as the Chicago PMI rose to 68.4.  Anything above 50 is considered expa... 10/29/2021

http://MikesDailyMarketReport.com:  Jobless Claims continued to drop for the 3rd week in a row, which this week's report came in at 281k.  We're also seeing a decline in the Continued Claims report.  However, keep in mind that people whom are unvaxed and being fired for such won't be included with these numbers, so we may need to view the Labor Participation Rate to determine how much of an impact this may be.  So, stay tuned!  GDP dropped from Q2's 6.7% to an initial reading for Q3 at 2.0%.  Investors shrugged it off because there were some concerns that it could have been even worse (like, near 0.0%).  Lastly, Pending Home Sales dropped by 2.3% to 116.7k seasonally adjusted units.  Stocks are still rising due to Q3 Earnings Reports.  The Spending Bill in Congress seems to be shrinking... 10/28/2021

http://MikesDailyMarketReport.com:  The Durable Goods Orders dropped by 0.4% in September; however, when you exclude Transportation, then it went up 0.4%.  This is a good basis to view, as Transportation is loaded with high ticketed data that can skew the numbers too much in one direction.  Stocks are Mixed today, as Investors keep pushing aside inflation concerns, but are more interested in the Q3 Earnings Reports.  Tensions are rising again between China and US, as the FCC issued an ultimatum to China Telecom to leave the US Market, as they're being viewed as a security threat.  MBS is currently Up 25 bps (after closing +9bps yesterday), so Mortgage Rates get a bit of a boost for the 3rd day in a row.  Also, helping MBS is the decline with Yields, as they touch on their 25 DMA and sit... 10/27/2021

http://MikesDailyMarketReport.com:  We have 2 Home Price Indices (HPI) being reported today.  The first is the Case Shiller HPI, which follows the 20 largest US Markets.  It went from MoM of 1.5% in July to 1.2% MoM in August, as it's YoY dropped from 20.0% to 19.7%.  Similar reading by the FHFA HPI, which measures homes with conforming limits.  It went from 1.4% MoM in July to 1.0% in August, as it's YoY droppedd from 19.2% to 18.5%.  As we hit the fall season, we have reported slower home sales; so, this is a great time for First Time Home Buyers to re-enter the Market.  Inventory is still relatively low, but less competition.  Next, we move on to Consumer Confidence, which rose from 109.8 in September to 113.8 in October.  It beat forecasts of a drop to 108.3.  Lastly, New Home Sales... 10/26/2021

http://MikesDailyMarketReport.com:  There's no economic data today; however, the rest of this week is packed with important economic data to be released -most notably will be the PCE (Fed's favorite inflationary data information).  Stocks are Up this morning, as Investors are primarily reviewing the Q3 Earnings reports being released.  MBS is Up (+14bps) again today, as Mortgage Rates show some slight improvement today (from Friday's close).  Yields dipped down just below 1.63%.Please subscribe to my YouTube Channel at MikesDailyMarketRptAlso, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.  10/25/2021

http://MikesDailyMarketReport.com:  The IHS Markit PMI released their October Manufacturing and Services data today.  The Manufacturing dipped a little bit to 59.2; while the Services rose to 58.2.  Any number above 50 for these indices indicates expansion/optimism.  Stocks are Down today, after being in positive territory to start the day.  However, a speech by Fed Chairman Powell jolted both Markets a bit.  He indicated that the Fed is on pace to taper this year; it's too early for any rate hikes; and that inflation will drag into 2022.  This will be his last speech prior to the FOMC in about 2 weeks.  We'll find out if they will begin tapering immediately or (maybe) in December.  In other news, Evergrande made their past due payments to their foreign bondholders today.   Also, Congre... 10/22/2021

http://MikesDailyMarketReport.com:  The Philly Fed Index dropped from 30.7 in Sept to 23.8 in October.  This index measures the business activity in the Philadelphia area.  Jobless Claims continued to decline, as they report only 290k applied for first time benefits last week. Remember those whom lost there jobs due to refusing the vax mandates won't be included with these numbers.  We don't know yet how much of an impact that may be.  Existing Home Sales jumped up 7.0% in September to 6.29 million seasonally adjusted units.  Lastly, the Leading Economic Indicator rose only 0.2% in September.  Stocks are a bit mixed today, as NASDAQ is lone index in Positive Territory (unlike yesterday, where it was reversed).  Investors are reviewing Q3 Earnings Reports, which approximately 86% have be... 10/21/2021

http://MikesDailyMarketReport.com:  Nothing on the Economic Calendar today, but the Fed Beige Book was released earlier today, which stated the following:*economy is growing at modest to moderate pace*low supply of workers across the country*it's being reported there is significantly elevated prices around the USSo, Inflation, lack of supplies and lack of workers are suppressing the economy from reaching it's full potential.  Many Investors are speaking out on the inflation not being transitory and being more permanent, especially as energy prices quickly escalate and get absorbed into consumers' costs.  Stocks are in Mixed Territory, as NASDAQ remains lone index in the Red.  They're being heavily influenced with the higher yields, as they continue to try and head north.  They're curren... 10/20/2021

http://MikesDailyMarketReport.com:  Housing Starts dropped 1.6% in September, as they reported only 1.555 million seasonally adjusted units were started.  If you look within the numbers, then most of the numbers were due to a drop with multifamily units (whereas, single family homes were within expectations).  Also, Building Permits dropped 7.7% in September, bringing it down to 1.589 million seasonally adjusted units.  Yesterday, we had an increase with Home Builder Confidence, but they did state that supply chain and labor shortages are creating delays with their plans.  Meanwhile, Stocks are Up on better than expected Q3 Earnings Reports.  Markets will be watching a few different Fed Speakers, so there may be some movement based on what they say.  MBS started the day off higher, then... 10/19/2021

http://MikesDailyMarketReport.com:  Industrial Production continued to drop in September, as it was reported a 1.3% drop; meanwhile, it's August report was revised from an increase of 0.4% to a drop of 0.1%.  Investors received a pleasant surprise, as the NHIB Home Builders Index rose 4 points to 80.  This index measures the confidence level for Home Builders.  Meanwhile, stocks are trading in Mixed territory, as they continue to review Q3 Earnings Reports and other data.  China reported a significant drop in their Q3 economic data, as it dropped from 7.9% to 4.9%.  This had early trading in negative territory, but had subsided since then.  Meanwhile, inflation is still a concern, as energy prices continue to rise (price of a barrel of oil is now over $81).  MBS was Down much more earli... 10/18/2021

http://MikesDailyMarketReport.com:  Retail Sales came in strong for September for the 2nd consecutive month, as it reported a 0.7% increase (higher than the -0.2% forecasts); and even when you exclude Autos, it was strong (0.8%)!  Stocks are really liking this release, along with continued positive Q3 Earnings Reports being released.  The Empire State Index indicated that manufacturing slowed a bit in October, as it dropped from 34.3 in September to 19.8 for October.  Also, the Consumer Sentiment dropped a little bit in October, as it went from 72.8 to 71.4.  MBS is Down 13bps this morning on the positive economic data being published today and being pressured further with rising Yields, which has spiked back above the 2 technical levels that it slipped thru during this week.  Yields ar... 10/15/2021

http://MikesDailyMarketReport.com:  The Initial Jobless Claims came in at 293k last week, as this is the first time since Pandemic that we saw this data in the 200k+ range.  This is helping the Markets.  Lastly, the Producer Price Index (PPI) rose 0.5% in September, while it's Core PPI (excluding food and energy) rose only 0.2% (which brings it's YoY from 6.7% in August to 6.8% in September).  The PPI measures inflation for the Wholesale sector and doesn't always carry too much weight, like CPI or PCE.  Stocks are Up today on the Initial Jobless Claims data and good earnings reports from Banks, as we begin the release of Q3 Earnings Reports.  Meanwhile, MBS is Up 11bps (coupled with yesterday's close of 23bps) has Lenders out with better Mortgage Rates today (compared to yesterday morni... 10/14/2021

http://MikesDailyMarketReport.com:  The CPI rose 0.4% in September, while it's YoY rose to 5.4% (from 5.3% in August).  However, if you exclude food and energy, then you will see the Core CPI rose only 0.2% in September, while it's YoY remained unchanged at 4.0%.  Obviously, we see it at the gas pumps and grocery stores that these prices are continuing to rise substantially.  Stocks are trading in Positive Territory today as the Core CPI came in a bit tame and investors look to the FOMC Minutes being released.  MBS had a rollover, so the Chart may look misaligned, but it's essentially a reset in pricing and Mortgage Rates are unaffected.  Currently, MBS is Up 13bps, which is also being propped up a bit after a good 30 year Auction.  Yesterday, the Market finished Up 11bps; so, we're see... 10/13/2021

http://MikesDailyMarketReport.com:  No Economic Data to report today.  We have some Treasury auctions, which the 10yr performed well, as I was providing the video presentation; so, we may see some improvement soon.  This week holds inflation data, which the CPI is released tomorrow and the PPI is released on Thursday.  Investors are watching inflation and any news on improvement in the supply chain and jobs data, as the IMF recently downgraded their forecasts for these very issues; and as a result, stocks are Down today.  Meanwhile, before the 10 year Treasury Auction, MBS was down 8bps and Unchanged levels; but this wasn't enough for any change in Mortgage Rates.  Yields had dipped below 1.60% to 1.58%.  We're hoping to see it break below the 1.56% technical floor, so there's less pres... 10/12/2021

http://MikesDailyMarketReport.com:  Today is the big jobs data from the Bureau of Labor Statistics (BLS).  The average earnings rose 0.6% in September, which average work week rose to 34.8 hrs/week.  However, the Non-Farm Payrolls disappointed again, as only 194k.  There was an expectation of approximately 500k.  But, the August numbers were revised higher, from 235k to 366k; but this is still a far miss from it's expection of around 700k-900k.  On the flip side, we saw a drop in the Unemployment Rate  from 5.2% to 4.8%.  I think October will be interesting, as companies begin to layoff non-vaccinated employees, whom won't be on the Unemployment data.  Lastly, wholesale inventories continued their 1.2% trend for the 2nd month in a row for August.  Investors are Uncertain about the Fed's... 10/08/2021

http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped down to 326k this past week, as fewer people apply for first time unemployment numbers.  As indicated, it will be interesting to view these numbers in the near future, as many folks are holding the line against vaccinations and being fired.  These folks won't be factored into the unemployment data, as they won't qualify to receive benefits.  However, if you look at the Challenger layoffs for Sept, then you see a spike from 15.723 million to 17.895 million; so, nearly 2 million planned layoffs.  Stocks like the lower Jobless Claims, but are liking the temporary solution for the Debt Ceiling Crisis; which Democrats and Republicans agreed to extend the deadline to December while raising it approximately $480 billion.  Meanw... 10/07/2021