MBS prices are down about 1/32 this morning while the DOW is down about 500 points after President Trump announced temporary exemptions on tariffs against Mexico, though the same caveat was not immediately applied to Canadian imports. Trade-war uncertainty has persisted as investors weighed how far President Donald Trump would be willing to negotiate on tariffs. Today’s economic reports showed that initial jobless claims for the week ending March 1 decreased by 21,000 to 221,000 (Briefing.com consensus 234,000). Continuing jobless claims for the week ending February 22 increased by 42,000 to 1.897 million. The key takeaway from the report is that the reduced level of initial claims — a leading indicator — will temper concerns for the time being about the labor market showing more pronounced signs of weakening.

MBS prices are down about 5/32 this morning while the DOW is up about 240 points amid ongoing discussion about President Trump’s tariff plans. Meanwhile, a soft print on labor market hiring revived worries about a slowdown. Today’s economic reports showed that according to ADP, private sector employment increased by just 77,000 jobs in February (Briefing.com consensus 145,000) — the smallest increase since July — with small businesses losing 12,000 jobs. Separately, year-over-year pay gains for job changers slowed from 6.8% to 6.7% while pay gains for job-stayers remained flat at 4.7%. The key takeaway from the report is that it reflects a slowdown in hiring activity, which will be construed as a sign of U.S. growth losing some steam.

MBS prices are up about 1/32 this morning while the DOW is down about 700 points as uncertainty over President Trump’s tariff policy has put investors on edge. Recent economic data has surprised to the downside. Not even the best year-over-year corporate earnings growth in three years has been able to lift stocks out of their slump. A second round of tariffs from President Trump started this morning with new duties on America’s top three trading partners: Canada, China, and Mexico. The president imposed 25% duties on Canadian and Mexican imports following a 30-day pause. He also implemented a second round of 10% duties on Chinese imports to increase the blanket tariffs on that nation to 20%. Markets will face another key economic growth test on Friday with the release of the February jobs report.

MBS prices are up about 1/32 this morning while the DOW is down about 400 points as shares of AI darling Nvidia tanked and a looming deadline fueled economic uncertainty around President Donald Trump’s tariff plans. NVidia stock plummeted as much as 7% as reports surfaced that the tech giant’s AI chips are reaching China despite export controls. Investors encountering more questions than answers as tariff deadlines loom, the Federal Reserve’s next meeting fast approaches, and the US economy faces the test of disproving investors’ fears about growth. Today’s economic reports showed that the February ISM Manufacturing Index checked in at 50.3% (Briefing.com consensus 50.7%) versus 50.9% in January. The dividing line between expansion and contraction is 50.0%, so the February reading suggests manufacturing sector activity decelerated versus the prior month.

MBS prices are up about 5/32 this morning while the DOW is down about 70 points following a key inflation reading that largely met expectations and as fresh tariff threats added to uncertainty over Big Tech prospects. Markets are wrapping up February trading facing sharp weekly and monthly losses after suffering the buffets of tariff moves. The Nasdaq is on track to fall over 5% in February, while the S&P 500 and Dow are eyeing drops of around 3%. Meanwhile, the benchmark S&P has seen daily drops of over 1% on three trading days this week. Meanwhile, investors reeling from President Trump’s fast-paced trade policy overhaul had to grapple with fresh tensions after China vowed to respond with “all necessary measures.” Beijing’s threat came after Trump said an extra 10% tariff on Chinese imports would take hold on Tuesday. He has also pledged to follow through on new duties on Mexico and Canada, and to impose tariffs on the EU. Today’s economic reports showed that personal income increased a robust 0.9% month-over-month (Briefing.com consensus 0.3%), led by a 1.8% jump in personal current transfer receipts, following a 0.4% increase in December. Personal spending, however, declined 0.2% month-over-month (Briefing.com consensus 0.2%) following an upwardly revised 0.8% increase (from 0.7%) in December. The PCE Price Index was up 0.3% month-over-month, as expected, and up 2.5% year-over-year versus 2.6% in December.