Stocks celebrated the closing of the first quarter (from January 1, 2012 to March 31, 2012) on Friday with the best gains in more than a decade. What can we expect from the second quarter?
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As the second Greek bailout initiative is wrapping up, European leaders are finally shifting their sights away from budget cutting. While they’ve chosen to refocus on promoting economic growth, leaders will need to dive head first into the proposed efforts to ease the onset of recession.
This day was bound to happen. After flirting with the 13,000-point mark for days, the Dow Jones Industrial Average finally closed above the 13,000 line. This is tremendously exciting for a bunch of reasons.
Greece is in the hot seat again, as negotiations between the European country and its private creditors have come to a halt. According to reports, Greece’s leading political forces missed responding to a deadline that would enforce demands for harsher measures to be implemented. Wall Street is growing familiar with financial woes abroad, thus mortgage-backed securities are up slightly again this morning. Up next in this week’s economic release schedule is today’s 1 p.m. auction of $32 billion in 3-year notes.
The mortgage-backed security market was dominated by buyers yesterday, Unit Labor Costs came in higher than expected, and stocks closed yesterday with gains across the board. Who wants a Market Update?
Residential real estate markets hold steady, consumer spending and non-financial services expand at a moderate pace, and the stock market closed after a fairly quiet day of trading.
Mortgage-backed securities are up slightly, treasury prices are down, and all three stock indexes saw gains yesterday. Get ready for your market update, people!
The debt crisis abroad is holding strong, as indicated yesterday following a release of the European Central Bank’s balance sheet. The financial brief sparked mortgage backed securities in Thursday’s early morning hours, driving the 4.25% 30-Year rate to zero points. Jobless claims have increased over the past week.
Early morning reports indicate treasuries have bounced back vigilantly following yesterday’s seamless bond auction in Italy. While the lull in economic news continues during the post-holiday week, any financial headlines would be the catalyst behind a possible market move.
Bonds open up lower, treasuries remain lower, and all three stock indexes saw moderate gains yesterday. This is your market update, folks.