Market Comment

In news released at the open, weekly jobless claims stood at 457,000 (440,000 expected) and continuing claims stood at 4,639K (4,583K expected). This data confirms the fact that the jobs market remains under pressure. Industrial Production rose 0.1% (0.7% expected) and capacity utilization stood at 73.2 (73.3 expected). The Philadelphia Fed survey stood at 20.2, near expectations. With no more data set for release today, traders will spend the day watching stocks to help gauge interest rate direction. If stocks surge, rates could suffer.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
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