Yesterday’s release of the FOMC minutes showed a cautious Fed with a downward revision to 2010 growth. Most investors had already speculated that the Fed would remain accomodative over concerns that the economic recovery is slowing. Initial claims continue to show no real signls if improvement. The continuing claims fell, but it is widely believed that the decline in the number of people receiving benefits is due more to people running out of benefits than a surge in hiring.
After MBS prices lost over half a point in price yesterday, it lost another .25 to .375 points this morning. The jobs report was also released this morning and the Unemployment Rate is being reported at 7.8%.
What’s Up on Wall Street?
The Dow Jones Industrial Average increased 3.63 points (0.03%) while the Nasdaq fell 6.18 points (-0.20%). Also, the S&P 500 rose 2.14 points (0.15%).
Here are some of today’s rates:
Here are a few links to some of today’s financial articles. Be sure to leave a comment below if you know of any additional financial articles that are trending today.