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| Market Mirror | |
Yesterday, the Dow was virtually unchanged at 20,658.02, the NASDAQ ticked up 3.11 points (0.05%) to 5,880.93, and the S&P 500 increased by 1.62 (0.07%) to 2,357.16. The Russell 2000 increased 2.52 points (0.18%) to 1,367.08, and the Wilshire 5000 was up 25.35 points (0.105) at 24,560.59. On the NYSE, 3.1 billion shares changed hands, with advancing issues outnumbering declining issues 2 to 1. On the NASDAQ, 2.9 billion shares traded, with a slight lead for decliners. The price of the 10-year Treasury note was up 6/32, decreasing its yield to 2.363%. The price of the 30-year Treasury bond increased 13/32, bringing its yield down to 2.987%. | |
| Compliance | |
| Peabody Energy Stock Drop Suit Dismissed | |
| A judge concluded plaintiffs did not allege special circumstances or offer plausible alternatives according to standards set forth in the Supreme Court’s Dudenhoeffer ruling. Read more > | |
| From the Magazine | |
| DB Plan Q&A: Constitutional Standing | |
| ERISA [Employee Retirement Income Security Act] counsel who are advising plan sponsors focus their efforts upon compliance to reduce the risk that plan participants will commence legal actions against the sponsors and the fiduciaries who are responsible for administering the plans. However, as counsel also remind plan sponsors, no guidance we provide can prevent you from being sued. The best we can do is structure your activities so that if the action is challenged, it can be summarily dismissed, thus avoiding the expenses of discovery and motion practice that result in high legal fees. However, in the context of litigation, the merits of a plaintiff’s cause of action are not the first issue that must be addressed. A plaintiff must first establish that he has standing under Article III of the Constitution. Read more > | |
| Investing | |
| TDF Market Evolution Improves Product Choice | |
| The majority of target-date fund (TDF) providers continue to construct their TDF portfolios using proprietary funds as the underlying investments, Mercer finds, “despite reports of plan sponsor unbundling trends.” Read more > | |
| Small Talk | |
ON THIS DATE: In 1783, after receiving a copy of the provisional treaty on March 13, the U.S. Congress proclaimed a formal end to hostilities with Great Britain. In 1898, U.S. President William McKinley asked Congress for a declaration of war with Spain. In 1899, the treaty ending the Spanish-American War was declared in effect. In 1901, construction of the Empire State Building was completed. In 1945, during World War II, American soldiers liberated the Nazi concentration camp of Buchenwald in Germany. In 1947, Jackie Robinson became the first black player in major-league baseball history. He played in an exhibition game for the Brooklyn Dodgers. In 1951, U.S. President Harry Truman fired General Douglas MacArthur as head of United Nations forces in Korea. In 1968, U.S. President Lyndon Johnson signed the 1968 Civil Rights Act. In 1970, Apollo 13 blasted off on a mission to the moon that was disrupted when an explosion crippled the spacecraft. The astronauts did return safely. In 1980, the Equal Employment Opportunity Commission issued regulations specifically prohibiting se.xual harassment of workers by supervisors. In 1991, U.N. Security Council issued a formal cease-fire with Iraq. | |
| TRIVIAL PURSUITS: Both paper and plastic bags are environmentally inferior to reusable canvas bags. However, between paper and plastic, which is better for the environment? Read more > | |
| 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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