Employment News Boosts Stocks

Investors cheered the news regarding from the government on the employment front, driving up the Dow Jones Industrial Average almost 208 points on Friday. The members of the Mortgage Industry Equity Composite saw a more muted version of that enthusiasm, as 11 of the 17 stocks closed up. On Thursday, all 17 had reported a higher close than on the previous day.

PHH was the best performer on a percentage basis, up 3.83%, followed by private mortgage insurers MGIC Investment Corp. and Radian Group, up 2.86% and 1.44% respectively.

PennyMac had the largest percentage decline, down 1.64%, followed by KB Home, down 0.84%, and Ellie Mae, down 0.82%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/Employment-News-Boosts-Stocks-1036836-1.html

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