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April 13th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
In March, the Consumer Price Index for All Urban Consumers (CPI-U) rose 1.2%, seasonally adjusted, and rose 8.5% over the last 12 months, not seasonally adjusted, the Bureau of Labor Statistics reported. The index for all items less food and energy increased 0.3% in March, SA; up 6.5% over the year, NSA.
Real average hourly earnings for all employees decreased 0.8% in March, seasonally adjusted. Average hourly earnings increased 0.4% and CPI-U increased 1.2%. Real average weekly earnings decreased 1.1% over the month.
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| MARKET MIRROR |
Tuesday, the Dow fell 87.72 points (0.26%) to 34,220.36, the Nasdaq closed 40.38 points (0.30%) lower at 13,371.57, and the S&P 500 decreased 15.08 points (0.34%) to 4,397.45. The Russell 2000 was up 6.61 points (0.33%) at 1,986.94, and the Wilshire 5000 lost 86.88 points (0.20%) to finish at 44,124.82.
The price of the 10-year Treasury note was up 5/32, decreasing its yield to 2.722%. The price of the 30-year Treasury bond was down 1/32, increasing its yield to 2.812%.
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ON THIS DATE: In 1860, the first mail was delivered via Pony Express when a westbound rider arrived in Sacremento, California, from St. Joseph, Missouri. In 1870, the Metropolitan Museum of Art was officially incorporated in New York City. In 1943, President Franklin D. Roosevelt dedicated the Jefferson Memorial. In 1954, Hank Aaron debuted with the Milwaukee Braves. In 1964, Sidney Poitier became the first Black person to win an Oscar for best actor. It was for his role in the movie “Lilies of the Field.” In 1970, an oxygen tank exploded on Apollo 13, preventing a planned moon landing. In 1976, the U.S. Federal Reserve introduced $2 bicentennial notes. In 1997, Tiger Woods became the youngest person to win the Masters Tournament at the age of 21. He also set a record when he finished at 18 under par. In 1998, NationsBank and BankAmerica announced a $62.5 billion merger, creating the country’s first coast-to-coast bank.
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WEDNESDAY WISDOM: “To the mind that is still, the whole universe surrenders.”—Lao Tzu, Chinese philosopher
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