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April 11th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
February sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $675.8 billion, up 1.7% from the revised January level and up 25.5% from the revised February 2021 level, the Census Bureau reported. The December to January percent change was revised from the Monthly Wholesale Annual Revision Report of up 4.4% to up 5.0%.
Tomorrow, the Bureau of Labor Statistics will reveal the consumer price index for March, and Wednesday, it will reveal the producer price index for March. Thursday, the Labor Department will issue its initial claims report, Freddie Mac will update average weekly mortgage rates, and the Census Bureau will report about retail sales for March and business trade for February.
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| Market Mirror |
Friday, the Dow closed 137.55 points (0.40%) higher at 34,721.12, the Nasdaq fell 186.30 points (1.34%) to 13,711.00, and the S&P 500 was down 11.93 points (0.27%) at 4,488.28. The Russell 2000 decreased 15.24 points (0.76%) to 1,994.56, and the Wilshire 5000 lost 163.12 points (0.36%) to finish at 44,927.42.
The price of the 10-year Treasury note decreased 26/32, bringing its yield up to 2.712%. The price of the 30-year Treasury bond fell 30/32, increasing its yield to 2.726%.
For the week ending April 8, the Dow was down 0.28%, the Nasdaq lost 3.86%, and the S&P 500 decreased 1.27%. The Russell 2000 fell 4.62%, and the Wilshire 5000 finished 1.91% lower.
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Events
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HSA Conference
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Join us virtually Wednesday and Thursday for our first HSA Conference of the year, designed to educate plan sponsors that currently offer, or are considering offering, these accounts. Topics to be discussed include: How HSAs operate; best practices in HSA provider selection and ongoing administration; how to boost employees’ knowledge, and use, of their benefit; and more. 
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Deals and People
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Retirement Industry People Moves
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Russell Investments hires endowment expert; SEI announces appointment of next CEO; Northern Trust Asset Management names co-head of fixed income; and more.
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ON THIS DATE: In 1783, after receiving a copy of the provisional treaty on March 13, Congress proclaimed a formal end to hostilities with Great Britain. In 1931, construction on 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 history when he played in an exhibition game for the Brooklyn Dodgers. In 1968, President Lyndon Johnson signed the 1968 Civil Rights Act. In 1970, Apollo 13, the third lunar landing mission, was successfully launched from Cape Canaveral, Florida, carrying astronauts James A. Lovell, John L. Swigert and Fred W. Haise. In 2004, Phil Mickelson won the Masters Golf Tournament at Augusta National Golf Club, his first major championship in nearly 12 years as a professional golfer.
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