Daily Market Update 1/2/14

Mortgage rates held steady Thursday as stock prices fell sharply.  This morning, weekly Jobless Claims rose to 339,000, close to expectations.  The Institute for Supply Management manufacturing index declined to 57.0, matching forecast.  Readings above 50.0 indicate expansion in the manufacturing sector of the economy.  Construction Spending rose by 1.0%, a bit higher than expected.  No other key data will be released today.

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