From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 12/17/2025
U.S. stocks are mixed Wednesday morning as investors digest economic data and Fed comments. The DJIA is higher, while both the S&P 500 and Nasdaq are lower. The DJIA and S&P 500 finished lower yesterday for a third straight day, while the Nasdaq ended the day higher. Fed Governor Chris Wallace said the labor market is “very soft” this morning, signaling a belief for additional rate cuts by the Fed.
Looking at economic data today, MBA mortgage applications fell 3.8% last week. The seasonally adjusted Purchase Index was down 3% and the Refinance Index was 4% lower. The report also showed that the average interest rate of a conforming 30-year mortgage increased five basis points to 6.38%.
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