Daily Market Update 7/6/16

Mortgage rates were little changed Wednesday as stock prices moved lower.  This morning, the May Trade Deficit rose to $41.1 billion, a bit higher than expected.  The Institute for Supply Management services index rose to 56.5, beating the consensus forecast of 53.5.  Readings above 50.0 indicate expansion in the services sector of the economy.  Detailed Minutes from last month’s Fed meeting will be released at 2:00 PM.

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