Archive for June, 2009
Monday, June 22nd, 2009
Investor sentiment began the week with a rapid downward slide after the World Bank released new forecasts severely downgrading the prospects for a global recovery. The world economy remains "unusually uncertain" and is now expected to shrink...(read more)
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Thursday, June 18th, 2009
Freddie Mac's Primary Mortgage Market Survey for the week ended June 18 showed significant decreases in all mortgage products although they are still above the record low territory of late spring. The 30-year fixed rate mortgage (FRM) dropped to 5...(read more)
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Thursday, June 18th, 2009
Stocks opened on par with yesterday’s close but have since climbed higher on encouraging data reports. A weekly labor report showed mixed results, a regional manufacturing report showed significant improvement, and the leading indicators index improved...(read more)
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Wednesday, June 17th, 2009
The S&P 500 fell 3.6% on Monday and Tuesday, and with a new regulatory framework being introduced this afternoon markets are hesitant to go against the herd, as losses extend across the board. Ninety minutes into the session, the S&P has fallen...(read more)
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Wednesday, June 17th, 2009
Demand for mortgages plummeted last week, pushing the index tracking mortgage applications down to a seven month low, even as average rates for a 30-year fixed mortgage moderated, a weekly report said Wednesday. Loan applications decreased 15.8% in the...(read more)
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Tuesday, June 16th, 2009
Tuesday presented some good news for the real estate market as Housing Starts improved above expectations in May. Inflation for producers was also more benign than expected. Together, the two releases are allowing futures to extend overnight gains. S&P...(read more)
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Monday, June 15th, 2009
Markets are off to rough start Monday morning as headlines warn investors that President Obama plans to overhaul the regulation system this Wednesday. In addition, fresh data suggests that manufacturing conditions deteriorated more than expected in New...(read more)
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Friday, June 12th, 2009
Stocks are mixed this morning, which seems an appropriate response to the latest Consumer Sentiment report. Ninety minutes into the session, the S&P 500 is climbing back towards par but remains down 0.32%, while the Dow is flat, and the Nasdaq is...(read more)
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Thursday, June 11th, 2009
Interest rates continued to increase during the week ended June 11 according to results of Freddie Mac’s weekly Primary Mortgage Market Survey released this morning. Three of the four average rates tracked by the survey were the highest of the current...(read more)
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Thursday, June 11th, 2009
Stocks opened higher and continued their climb in the first hour of trading, as retail sales came in slightly better than expected and a weekly labor report said claims for unemployment benefits were moderating. As of 10:30, the S&P 500 was up 0.90...(read more)
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