|
April 10th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
In the week ending April 1, the advance figure for seasonally adjusted initial claims for unemployment insurance was 228,000, a decrease of 18,000 from the previous week’s revised level of 246,000, the Labor Department reported. The four-week moving average was 237,750, a decrease of 4,250 from the previous week’s revised average of 242,000.
Interest on a 30-year fixed-rate mortgage averaged 6.28% for the week ending April 6, down from last week when it averaged 6.32%, Freddie Mac announced. A year ago at this time, the 30-year FRM averaged 4.72%. Interest on a 15-year fixed-rate mortgage averaged 5.64%, up from last week when it averaged 5.56%. A year ago at this time, the 15-year FRM averaged 3.91%.
Monday, the Census Bureau will announce wholesale inventories. Wednesday, the Labor Department will announce the Consumer Price Index for March. Thursday, the Labor Department will announce the initial jobless claims and Freddie Mac will announce the latest rates on a 30-year fixed-rate mortgage and on a 15-year fixed-rate mortgage. Friday, the Department of Commerce will announce retail sales.
|
|
|
|
| MARKET MIRROR |
Thursday, the Dow gained 2.57 points (0.01%) to close at 33,485.29, the Nasdaq gained 91.10 points (0.76%) to close at 12,087.96 and S&P 500 rose 14.64 points (0.36%) to close at 4,105.02. The Russell 2000 increased 2.33 points (0.13%) to close at 1,754.46 and the Wilshire 5000 gained 143.25 points (0.35%) to close at 40,506.68.
The price of the 10-year Treasury note was unchanged, bringing the yield to 3.307%. The price of the 30-year Treasury bond increased 25/32, bringing the yield to 3.552%.
For the week ending April 6, the Dow gained 1.77%, the Nasdaq increased 0.47% and the S&P 500 increased 1.2%. The Russell 2000 lost 1.16% and the Wilshire 5000 finished 1.05% higher.
|
|
|
|
PRODUCTS
|
|
Investment Product Launches
|
Principal launches hybrid QDIA; Penn Mutual introduces Protection Whole Life; Xtrackers by DWS announces a new ETF; and more. 
|
|
|
DEALS AND PEOPLE
|
|
Retirement Industry People Moves
|
|
U.S. Bancorp Asset Management picks Jim Link to head OCIO Unit; Marshberry adds Madore as financial advisory VP; and more.
|
|
|
EVENTS
|
|
HSA Conference
|
|
Gain a better understanding of health savings accounts, how to determine employees’ needs and how to evaluate the impact on the overall benefits spend. Join us April 19 – 20 for the virtual 2023 HSA Conference.
|
|
|
|
|
ON THIS DATE: In 1912, the RMS Titanic embarked on its maiden voyage, which ended in tragedy several days later when the luxury liner struck an iceberg and sank. In 1925, American author F. Scott Fitzgerald published “The Great Gatsby,” which became a literary classic. In 1938, soon after Adolf Hitler’s invasion of Austria, 99.7% of Austrians approved the Anschluss – the political unification of Austria and Germany. In 1960, the U.S. Senate passed the Civil Rights Bill. In 1998, the Good Friday Agreement was signed, calling for developed government in Northern Ireland; the accord was ratified by Ireland and Northern Ireland the following month. In 2001, the Netherlands passed a bill permitting euthanasia, the first such national law in the world. In 2019, astronomers released the first-ever image of a black hole, which is in the center of the massive galaxy M87.
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
Copyright ©2024 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
|
|
702 King Farm Boulevard, Suite 300, Rockville, MD 20850
|
|
|
