Market Update, Friday August 28, 2020
Stocks opened higher, following the Fed’s new inflation approach as spending and inflation rose in July, indicating a pickup in consumer activity. The S&P 500 is on track for its biggest weekly gain in nearly two months after another record close on Thursday.
Market Update, Thursday August 27, 2020
Stocks opened mixed after Chairman Powell reiterated that the Federal Reserve will not preemptively lift interest rates to head off higher inflation. The S&P edged higher, extending Wednesday’s rally that pushed the index to another record close.
Market Update, Wednesday August 26, 2020
Stocks opened mixed following the S&P 500 hitting a record high for a fourth straight trading session. Investors are anticipating Fed Chairman Powell’s speech from the Jackson Hole Economic Policy Symposium on Thursday for fresh clues on the health of the economy and potential monetary policy changes.
Non-QM RMBS Issuers to Lenders: More loans, please
Non-QM lenders have been dropping interest rates rapidly this month as they seek an edge in meeting the demands of aggregators and bond investors, according to four lenders.
Market Update, Tuesday August 4, 2020
Stocks opened lower as more companies post earnings amid low expectations due to the coronavirus pandemic. Over 75% of S&P 500 companies have now reported second quarter earnings with durable goods makers leading the index lower.
Market Update, Monday August 3, 2020
Stocks opened higher at the U.S. reported it lowest number of new infections in nearly four weeks. A total of 47,000 new coronavirus cases were reported after record numbers of infections were recorded during the month of July.
Market Update, Friday July 31, 2020
Stocks edged higher following positive results from the largest tech companies’ quarterly earnings reports. Shares in Apple, Facebook and Amazon were up pre-market as reports indicate that the three companies posted better than expected sales during the last three months.
Market Update, Thursday July 30, 2020
Stocks opened lower following the sharpest U.S. economic contraction reported on record in the second quarter. Initial estimates from the Commerce Department indicate the economy shrank 32.9% in the three months ending June 30th.
Market Update, Wednesday July 29, 2020
Stocks opened higher as investors anticipate the conclusion of the Federal Reserve meeting and a congressional hearing before the House Antitrust Subcommittee later today. One Tuesday, the Fed announced it would extend emergency lending programs by three months to encourage activity during the pandemic.
Market Update, Tuesday July 28, 2020
Stocks opened lower as investors assess corporate earnings and focus on the progress of the next stimulus bill. Republicans will need to secure the backing of Democrats to move forward with their current proposal to cut the federal weekly unemployment supplement from $600 to $200 through September, at which point the payment would combine the state benefits.
