Daily Market Update 9/16/10

Rates inched higher Thursday on stronger than expected jobs data. Weekly Jobless Claims fell to 450,000, the lowest level in two months. Separately, the Producer Price Index (PPI) for August increased 0.4% from July, which was more than forecast. Core PPI, which excludes volatile food and energy components, rose at a low 1.3% annual rate. The Philadelphia Fed index, a monthly survey of manufacturers in Pennsylvania, New Jersey, and Delaware, came in at -0.7. Readings below zero indicate contraction in the manufacturing sector. Stocks moved lower. No other data will be released today.

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