Daily Market Update 8/3/17

Mortgage rates were little changed Thursday ahead of tomorrow’s key employment data.  This morning, weekly Jobless Claims fell to 240,000, a bit below forecast.  July Factory Orders rose 3.0%, in line with expectations.  The Institute for Supply Management services index declined to 53.9, well below the consensus forecast of 57.0.  Readings above 50.0 indicate expansion in the services sector of the economy.  No other key data will be released today.  The closely-watched Non-farm Payrolls report and Unemployment Rate for July will be released tomorrow at 8:30 AM.

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