November 7th, 2013 11:08 AM by Gary Schiller
Big Stock day today. Twitter IPO is being released. Also in the news, the European Central Bank cut their discount rate by .25. Also, initial jobless claims were reported at 336,000.00 which is in line with expectations. Finally, third quarter GDP was 2.8%, which is stronger than market expectations of 2.0%. Tomorrow we have the initial jobless claims which as previously stated could be as low as 125,000.00. Such a low number makes it easy for the actual jobs number to beat expectations, but any number under 140,000 will still be considered weak.Mortgage bonds and Stocks have started the day higher, but the big news will be tomorrow’s jobs report.
Mortgage rates are flat to slightly better at some coupons.