| | Economic Events | The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.3% in March on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the all items index rose 2.4% before seasonal adjustment.
Real average hourly earnings increased 0.5% in March, seasonally adjusted. Average hourly earnings increased 0.2%, and CPI-U decreased 0.3%. Real average weekly earnings increased 0.5% over the month.
THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about housing starts for March. Thursday, the Labor Department will issue its initial claims report. Friday, the National Association of Realtors will report about existing home sales in March. | | | Market Mirror | The stock and bond markets were closed Friday.
WEEK’S WORTH: For the week ending April 14, the Dow was down 0.98%, the NASDAQ lost 1.24%, and the S&P 500 finished 1.13% lower. The Russell 2000 fell 1.42%, and the Wilshire 5000 decreased 1.11%. | | | Compliance | | Fujitsu’s Motions to Dismiss 401(k) Excessive Fee Suit Denied | | U.S. Magistrate Judge Nathanael M. Cousins of the U.S. District Court for the Northern District of California found plaintiffs in a 401(k) excessive fee case against Fujitsu Technology and Business of America adequately pled the causes of action for breach of fiduciary duty under the Employee Retirement Income Security Act (ERISA).Read more > | | Trump Signature Overturns DOL Rule for Government-Run Auto-IRAs | | President Donald Trump has signed a resolution overturning a Department of Labor (DOL) rule that would allow cities and municipalities of states to offer retirement plans for private-sector employees that would be exempt from Employee Retirement Income Security Act (ERISA) provisions.Read more > | | | Investing | | Sponsors May Soon See New Share Class Recommendations | | According to a new Morningstar report, the Obama-era Department of Labor (DOL) conflict of interest reforms, while facing an uncertain future, have already promoted real change among advice and investment product providers working under the Employee Retirement Income Security Act (ERISA). In particular, Morningstar has measured a strong increase in the offering of two relatively new mutual fund share classes, known as “transactional” shares and “clean” shares.Read more > | | | Small Talk | | ON THIS DATE: In 1492, Christopher Columbus signed a contract with Spain to find a passage to Asia and the Indies. In 1521, Martin Luther was excommunicated from the Roman Catholic Church. In 1524, New York Harbor was discovered by Giovanni Verrazano. In 1861, Virginia became the eighth state to secede from the Union. In 1864, U.S. Civil War General Grant banned the trading of prisoners. In 1865, Mary Surratt was arrested as a conspirator in the Lincoln assassination. In 1964, Jerrie Mock became first woman to fly an airplane solo around the world. In 1964, Ford Motor Company unveiled its new Mustang model. In 1967, the U.S. Supreme Court barred Muhammad Ali’s request to be blocked from induction into the U.S. Army. In 1969, in Los Angeles, Sirhan Sirhan was convicted of assassinating U.S. Senator Robert F. Kennedy. In 1970, Apollo 13 returned to Earth safely after an on-board accident with an oxygen tank. In 1993, a federal jury in Los Angeles convicted two former police officers of violating the civil rights of beaten motorist Rodney King. Two other officers were acquitted. In 1996, Erik and Lyle Menendez were sentenced to life in prison without parole for kil.ling their parents. | | SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Do you plan to retire later, and/or do you plan to work during your retirement-age years?” The answer was yes for both questions for the majority of readers who responded. About four in ten (41.9%) responding readers say they plan to retire between ages 55 and 65, inclusive. Of those planning to retire later than age 65, 44.6% plan to retire between ages 66 and 70, inclusive, and 9.5% between ages 71 and 75, inclusive. Slightly more than 4% say they plan to never retire. Of those who plan to work past retirement age, 6.8% say they plan to work full-time, and 58.9% say they plan to work part-time. The remaining 34.2% of respondents indicated they do not plan to work during their retirement-age years. In verbatim comments, there were a few who expressed that same sentiment as this reader: “If you love your job and continue to do well at it and other factors like commute and health are good, why would you retire?” Others said they would be bored if they retired, but still others want to quit work altogether and enjoy traveling and family time. It was funny to me that a couple of readers said they couldn’t retire because their wives wouldn’t let them. Of those who plan to work, they say it is not just for the money, but to stay engaged. Editor’s Choice goes to the reader who said: “I’ve worked since I was 14 years old. When I reach retirement in a few years, I’m done. Life is too short to work in my golden years.” Thank you to all who participated in the survey!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 > |
|
