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Treasuries remain stagnant this morning following the release of the Producer Price Index and MBA Mortgage Applications data. The Producer Price Index came in at a significantly lower number than expected, while MBA Mortgage Applications indicated a strong jump in the refinance sector. Showing a remarkable 24.6% increase from last week’s data, the refinance index is currently at its highest level since early August of the previous year. Further economic releases are on tap for the week, as the NAHB Housing Market Index data will be announced later in the day. Tomorrow, keep an eye peeled for data regarding our nation’s Housing Starts, Consumer Price Index, and Initial Jobless Claims.

What’s Up on Wall Street?

Stocks fired out of the gate yesterday and saw major gains at open due to positive economic news out of China, but fizzled out toward the end of the day.  The Dow Jones Industrial Average jumped 60.01 points (0.48 percent) after seeing a jump of 150+ points early in the morning.  The Nasdaq Composite climbed 4.58 points (0.36 percent), and the S&P 500 added 17.41 points (0.64 percent) of its own.

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