From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 8/27/2025
U.S. stocks edged higher Wednesday morning as investors await Nvidia earnings later today. The market has appeared to shrug off the firing of Fed Governor Lisa Cook after all three major averages finished slightly higher yesterday. Longer-term Treasury yields have moved higher since the firing as investors worry about the impact of rapid interest rate cuts could have on inflation.
Looking at economic data today, MBA mortgage applications fell 0.5% last week. Purchase applications rose by 2%, while refinance applications were down 4%. The report also showed that the average interest rate of a conforming 30-year mortgage increased a basis point to 6.69%.
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