Thank you, Ben Bernanke. The market rallied after Ben reaffirmed that he might keep purchasing bonds, depending on economic data. This morning however, treasuries are down ahead of reports that should show manufacturing growth quickened while unemployment rates fell. Many investors are claiming the rally yesterday was excess and rates should adjust today. We will see if their forecasts are correct…
What’s Up on Wall Street?
The Dow Jones Industrial Average increased 112.82 points (+0.73%) while the Nasdaq jumped 35.81 points (+0.99%). Also, the S&P 500 rose 17.23 points (+1.02%).
Current Rates
- 30-Year Fixed: 4.50% (4.692% APR)
- 15-Year Fixed: 3.375% (3.814 APR)
- 5-Year ARM: 2.99% (3.141% APR)
Visit our mortgage rates page to find out how much you can save with today’s rates, or use our mortgage calculator to find more rates and loan options.
Financial Links
Here are a few links to some of today’s financial articles. Be sure to leave a comment below if you know of any additional financial articles that are trending today.
CNN Money
S&P 500 tops 1,700 for first time
Washington Post
This Graph Calls the Entire Economic Recovery Into Question
MarketWatch
Who’s Hiring in the U.S. and What They Pay
The post The Market Rallied Today – Market Update appeared first on the ZING Blog by Quicken Loans.