Remember when we were celebrating the fact that the Dow Jones Industrial Average was consistently above the 13,000-point mark for a few weeks? What about that time I said stocks would keep up the positive momentum into the second quarter with gains as well? Unfortunately, stocks have taken an unbelievable U-turn over the past month.
Annnnnnd we’re back with another Federal Open Market Committee (FOMC) release broken down into common English for you. Doesn’t it seem like it was yesterday when I was breaking down the last release for you all? Did you miss me and my feeble attempts to drive some humor into the FOMC release? I’m sure you recall the Wayne’s World references from last time, right? At any rate, the Fed met again this week to discuss the current state of the economy. It’s a lot of the same stuff from last time, but important nonetheless.
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?
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.