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| Products, Deals and People | |
| Wells Fargo Advisors Focuses on T-Shares for Retirement Clients | |
| The move to T-shares for retirement accounts is expected to help advisers and clients working with the brokerage firm meet the requirements of the strict new conflict of interest regulations. Read more > | |
| Economic Events | |
The Conference Board Consumer Confidence Index, which had decreased in April, declined slightly in May. The Index now stands at 117.9 (1985=100), down from 119.4 in April. The Present Situation Index increased marginally from 140.3 to 140.7, while the Expectations Index declined from 105.4 last month to 102.6 in May. | |
| Market Mirror | |
Tuesday, the Dow closed 50.81 points (0.24%) lower at 21,029.47, the NASDAQ was down 7.00 points (0.11%) at 6,203.19, and the S&P 500 decreased 2.91 points (0.12%) to 2,412.91. The Russell 2000 fell 11.05 points (0.80%) to 1,371.19, and the Wilshire 5000 lost 53.70 points (0.21%) to finish at 25,053.41. The price of the 10-year Treasury note increased 11/32, bringing its yield down to 2.212%. The price of the 30-year Treasury bond climbed 22/32, decreasing its yield to 2.880%. | |
| Compliance | |
| United of Omaha Faces Lawsuit Over GICs | |
| The lawsuit charges that the crediting rate United of Omaha set for guaranteed investment contracts (GICs) allowed it to receive excessive compensation. Read more > | |
| Ask the Experts | |
| “I read with great interest a recent Ask the Experts column in which you discussed the differences between governmental 457(b) plans and those sponsored by private tax-exempt entities. I work for a faith-based university whose plan qualifies as a church plan. Should I be following the rules for governmental plans, or those for private tax-exempts?” Read more > | |
| Investing | |
| Plan Sponsors Should Not Have Concerns About Adopting CITs | |
| The lower cost of collective investment trusts (CITs) is attracting the attention of plan sponsors, retirement executives say. Compared to mutual funds, CITs are priced 10 to 30 basis points lower, according to a DST white paper, “Collective Investment Trusts—A Perfect Storm.” Concerns about difficulties setting up CITs are being addressed, and the concern that CITs have a tracking error against their benchmarks is over stated. Read more > | |
| Small Talk | |
| Two surveys show many employees check in with work during vacation time. One survey shows workers are burned out and need vacation, and both reveal why employees refuse to totally disconnect. Read more > | |
ON THIS DATE: In 1859, in London, Big Ben went into operation. In 1870, E.J. DeSemdt patented asphalt. In 1879, New York’s Madison Square Garden opened. In 1884, Dr. John Harvey Kellogg patented “flaked cereal.” In 1907, the first taxis arrived in New York City. They were the first in the United States. In 1909, the National Association for the Advancement of Colored People (NAACP) held its first conference. In 1913, the 17th Amendment went into effect. It provided for popular election of U.S. senators. In 1941, the first issue of “Parade: The Weekly Picture Newspaper” went on sale. In 1955, the U.S. Supreme Court ordered that all states must end racial segregation “with all deliberate speed.” In 1977, the trans-Alaska oil pipeline was finished after three years of construction. In 1994, the U.S. announced it was no longer aiming long-range nuclear missiles at targets in the former Soviet Union. In 2003, in North Carolina, Eric Robert Rudolph was captured. He had been on the FBI’s 10 Most Wanted list for five years for several bombings including the 1996 Olympic bombing.
WEDNESDAY WISDOM: “All you need is love. But a little chocolate now and then doesn’t hurt.”—Charles M. Schulz, cartoonist best known for the “Peanuts” comic strip | |
| Share the news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy. Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
Advertising: Paul Zampitella paul.zampitella@strategic-i.com
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