5/16/16

May 16th, 2016

 

Below is the news when it happened and market reaction.  All of the times below are Eastern Standard Time

Mon, May 16 11:01 AM - Stocks gains accelerate - Dow up 130 points.

10:34 AM New Rates have been posted http://www.johnmarbury.com/page5.html/

Mon, May 16 10:10 AM - MBS hit session lows.
Mon, May 16 9:59 AM - Higher shares of Apple and gushing oil prices push Wall St higher to begin the week.
Mon, May 16 9:40 AM - Freddie Mac joins forces with Ellie Mae to streamline the mortgage process.
Mon, May 16 9:38 AM - Stocks open higher with modest gains. Dow up 43 points.
Mon, May 16 8:42 AM -The 30-yr fixed conventional mortgage rate is now at a three year low, as reported by Freddie Mac on Thursday - 3.57% with 0.5 in points and fees added on top to receive that rate.
Mon, May 16 8:41 AM - The Fannie Mae 30-yr 3% coupon hovers just above support at the 25-day Moving Average.
Mon, May 16 8:40 AM - S&P futures fall to unchanged after the data.
Mon, May 16 8:39 AM - The much weaker-than-expected manufacturing data out of the New York region not enough to boost Bond prices.
Mon, May 16 8:38 AM - U.S. dollar index 94.47, -0.12.
Mon, May 16 8:31 AM - Empire State Index -9.02 vs the +6.2 expected.
Mon, May 16 8:22 AM - Economic data heats up this week. Today will bring Empire Manufacturing and the NAHB Housing Market Index.
Mon, May 16 8:19 AM - WTI oil at $47.22/barrel +$1.03, highest level since October 2015. Nigerian output disruptions coupled with bear Goldman Sachs saying the market has ended almost two years of oversupply and flipped to a deficit is fueling the gush higher today .
Mon, May 16 8:17 AM - Last week's decline in the major Stock indexes left the Dow and the S&P lower for the third straight week.
Mon, May 16 8:15 AM - 10-yr T Note yield 1.71%
Mon, May 16 8:09 AM - MBS and Treasury prices are edging lower this morning as S&P futures have rebounded from Sunday night's losses off the weak industrial production and retail sales out of China.

Contact

John Marbury
jmarbury@nationalbankofcommerce.com
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Birmingham, Alabama 35209
 

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