Daily Market Update 6/3/10

Mortgage rates inched higher Thursday ahead of tomorrow’s Employment Report. In economic news, weekly Jobless Claims came in at 454,000, close to expectations. Factory Orders rose 1.2%, a bit less than forecast. May Productivity increased 2.8%, less than expected. Analysts are forecasting a strong Employment Report for May, to be released Friday at 8:30 AM. A net increase of over 500,000 jobs is expected, mostly due to the hiring of census workers. Investors will be watching the data closely and mortgage-backed securities markets may be volatile.

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