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Mark Hemingway

Mortgage Market Update for December 3rd

Monday, December 3, 2018 - Article by: Mark Hemingway - Security Financial Services, LLC - Message

The G-20 Summit Meeting took place over the weekend with the big event taking place Saturday night between President Trump and China's President Xi. The two leaders discussed trade issues and agreed to suspend any tariffs for 90 days and will enter into negotiations to try and settle the trade dispute between the world's two largest economies. The headlines are lifting U.S. Stocks this morning as the last week of 2018 begins.

Manufacturing activity across the nation grew in November for the 115th consecutive month, reports the Institute of Supply Management (ISM). The ISM Index came in at 59.3 last month, above the 57.2 expected and up from 57.7 in October. Within the report it showed that both the new orders index as well as the employment component produced positive gains during the month.

Two key labor market reports will be released this week and will be closely watched by the members of the Federal Reserve as well as traders. The ADP Private Payrolls Report will be released on Wednesday followed by the government's Jobs Report on Friday. The strength in the labor markets has been well publicized this year and the question will be whether or not the solid numbers will continue. With the U.S. economy at above average growth, the jobs market should continue to prosper into 2019.

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