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April 15th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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SPECIAL COVERAGE
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403(b) plans
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A consideration of the challenges and considerations employers face when offering 403(b) plans. 
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| ECONOMIC EVENTS |
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Monday, the Census Bureau will report U.S. retail sales for March. Tuesday, the Census Bureau will report new housing starts for March. Thursday, the Department of Labor will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the National Association of Realtors will report existing home sales in March.
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| MARKET MIRROR |
Friday, the Dow fell 475.84 points (1.24%) to close at 37,983.24, the Nasdaq fell 267.10 points (1.62%) to close at 16,175.09 and the S&P 500 fell 75.65 points (1.46%) to close at 5,123.41. The Russell 2000 fell 39.43 points (1.93%) to close at 2,003.17, and the FT Wilshire 5000 Index fell 784.00 points (1.50%) to close at 51,459.67.
The 10-year Treasury note fell 6/32, bringing the yield to 4.522%. The 30-year Treasury bond fell 9/32, bringing the yield to 4.625%.
For the week ending April 12, the Dow fell 2.37%, the Nasdaq fell 0.45% and the S&P 500 fell 1.56%. The Russell 2000 fell 2.92%, and the FT Wilshire 5000 Index ended 1.68 lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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IRALOGIX names a new CEO; Concurrent selects a new director of retirement plan services; an employee benefits and executive compensation attorney joins Ballard Spahr; and more.
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ON THIS DATE: In 1912, the British luxury passenger liner Titanic sank en route to New York City from Southampton, England, after striking an iceberg during its first voyage; some 1,500 people died. In 1920, two men were murdered in South Braintree, Massachusetts, leading to the Sacco-Vanzetti case and the still-controversial conviction of the two Italian immigrants. In 1924, the Rand McNally “Auto Chum,” was released; it was the American publishing company’s first road atlas. In 1926, Robertson Aircraft, one of the companies that later developed into American Airlines, flew its first mail route, between Chicago and St. Louis, with Charles A. Lindbergh as the pilot. In 1947, Jackie Robinson, who broke baseball’s racial barrier, played in his first major league game for the Brooklyn Dodgers at Ebbets Field. In 1955, fast-food pioneer Ray Kroc opened the first McDonald’s franchise, , in Des Plaines, Illinois, launching an enterprise that would eventually become the world’s largest fast-food chain. In 1980, French novelist and playwright Jean-Paul Sartre died at age 74. In 1989, tragedy occurred at Hillsborough Stadium in Sheffield, England, when a crush of football fans resulted in 96 deaths and hundreds of injuries; police mistakes were later blamed for the incident. In 2000, President Bill Clinton established the Giant Sequoia National Monument, a preserve near Sequoia National Park covering more than 500 square miles of Sequoia National Forest in California. In 2003, President George W. Bush declared that the government of Saddam Hussein in Iraq had fallen as a result of the Iraq War and the following day asked the U.N. to lift sanctions against Iraq. In 2013, near the finish line of the Boston Marathon, two homemade bombs were detonated in the crowd of spectators; three people were killed and more than 260 were wounded in the terrorist attack. In 2019, the historic Notre-Dame de Paris caught fire during a restoration campaign, and the blaze destroyed most of the cathedral’s roof, the 19th-century spire, and some of the rib vaulting.
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