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April 12th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
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Events
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Plan Progress Webinar: Evaluating Guaranteed Income Products
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Join PLANSPONSOR and retirement industry sources for a discussion about the types of guaranteed income products available for sponsors of DC plans; what plan and participant data to take into consideration to select the most appropriate guaranteed income product; and elements of guaranteed income products to evaluate when selecting one.
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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 $538.3 billion, down 0.8% from the revised January level, but up 6.4% from the revised February 2020 level, the Census Bureau announced. The December to January percent change was revised from the preliminary estimate of up 4.9% to up 4.4%.
The Producer Price Index for final demand rose 1.0% in March, as prices for final demand goods advanced 1.7%, and the index for final demand services moved up 0.7%, the Bureau of Labor Statistics reported. The final demand index increased 4.2% for the 12 months ended in March.
Tomorrow, the Bureau of Labor Statistics will reveal the consumer price index for March. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about retail sales for March and business inventories for February. Friday, the Census Bureau will report about housing starts for March.
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Market Mirror |
Friday, the Dow climbed 297.03 points (0.89%) to 33,800.60, the Nasdaq closed 70.88 points (0.51%) higher at 13,900.19, and the S&P 500 increased 31.63 points (0.77%) to 4,128.80. The Russell 2000 was virtually unchanged at 2,243.47, and the Wilshire 5000 gained 268.51 points (0.62%) to finish at 43,288.23.
The price of the 10-year Treasury note was down 3/32, increasing its yield to 1.659%. The price of the 30-year Treasury bond decreased 6/32, bringing its yield up to 2.338%.
For the week ending April 9, the Dow increased 1.95%, the Nasdaq climbed 3.12%, and the S&P 500 gained 2.71%. The Russell 2000 was down 0.46%, and the Wilshire 5000 finished 2.38% higher.
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Deals and People
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Retirement Industry People Moves
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The Wagner Law Group selects attorney as ‘Of Counsel’; BlackRock hires head of sustainable investing platform; GW&K appoints several new partners; and more.
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ON THIS DATE: In 1861, the Civil War began as Confederate forces fired on Fort Sumter. In 1892, voters in Lockport, New York, became the first in the U.S. to use voting machines. In 1954, Bill Haley and His Comets recorded “(We’re Gonna) Rock Around The Clock.” In 1945, in New York, the organization of the first eye bank, the Eye Bank for Sight Restoration, was announced. In 1945, President Franklin D. Roosevelt died in Warm Spring, Georgia. He died of a cerebral hemorrhage at the age of 63. In 1961, aboard the spacecraft Vostok 1, Soviet cosmonaut Yuri Alekseyevich Gagarin became the first human being to travel into space. In 1981, the space shuttle Columbia was launched from Cape Canaveral, Florida, becoming the first reusable manned spacecraft to travel into space.
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