December 3, 2008
December 3, 2008 by admin
The stock market continues to have large daily swings up and down and Wednesday looks like another roller coaster day of trading. Investors continue to receive mixed messages regarding the health of the economy. The ADP jobs report showed a 250,000 loss of jobs for the month of November, in line with most economists expectations. The market appears to be looking past this news and found some good news in the productivity report released today which showed a strong improvement with productivity for the month of November.
Despite a nearly 300 pt increase in trading on Tuesday, the stock market was still down almost 400 pts for the week. The market will be trading anxiously ahead of Friday’s jobs report, which could set the tone for the long term rebound of the recession. Mortgage rates continue to be a major focus and lenders continue to work to improve pricing and rates for consumers following the Fed’s capital injection into the secondary market. Fixed mortgage rates are in the low five percent range and could move lower if the market continues to ease up from secondary lenders.