Daily Market Update 10/1/15

Mortgage rates inched lower Thursday ahead of tomorrow’s key employment data.  This morning, weekly Jobless Claims rose to 277,000, slightly above estimates.  Construction Spending increased by 0.7%, beating the consensus forecast of 0.5%.  The Institute for Supply Management manufacturing index declined to 50.2, below expectations.  Readings above 50.0 indicate expansion in the manufacturing sector of the economy.  No other key data will be released today.  The closely-watched Non-farm Payrolls report and the Unemployment Rate for September will be released tomorrow at 8:30 AM.

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