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April 17th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
U.S. retail and food services sales for March were $691.7 billion, down 1.0% from the previous month, the Census Bureau reported.
Tuesday, the Census Bureau will report new privately-owned 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 for March.
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| MARKET MIRROR |
Friday, the Dow lost 143.22 points (0.42%) to close at 33,886.47, the Nasdaq lost 42.81 points (0.35%) to close at 12,123.47 and the S&P 500 lost 8.58 points (0.21%) to close at 4,137.64. The Russell 2000 decreased 15.53 points (0.86%) to close at 1,781.15 and the Wilshire 5000 decreased 107.62 points (0.26%) to close at 40,870.25.
The price of the 10-year Treasury note decreased 28/32, bringing the yield to 3.520%. The price of the 30-year Treasury bond decreased 31/32, bringing the yield to 3.740%.
For the week ending April 14, the Dow gained 1.20%, the Nasdaq increased 0.29% and the S&P 500 increased 0.79%. The Russell 2000 gained 1.52% and the Wilshire 5000 finished 0.86% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Rugel joins MassMutual as head of operations; BNP Paribas promotes José Placido to CEO and Jean-Yves Fillion to vice chairman; and more. 
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Benefits
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Financial Wellness By the Numbers
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A review of how many recordkeepers are accommodating wellness offerings on their platforms, what kinds of programs are available and who is providing them.
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EVENTS
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HSA Conference
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Gain a better understanding of health savings accounts, how to determine employees’ needs and how to evaluate the impact on the overall benefits spend. Join us April 19 – 20 for the virtual 2023 HSA Conference.
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ON THIS DATE: In 1790, printer, publisher, author, inventor, scientist and diplomat Benjamin Franklin, died at age 84. In 1895, the Treaty of Shimonoseki concluded the first Sino-Japanese War, which ended in China’s defeat. In 1947, the Brooklyn Dodgers’ Jackie Robinson executed a bunt for his first Major League Baseball hit. In 1951, Mickey Mantle made his Major League Baseball debut for the New York Yankees. In 1961, Cuban leader Fidel Castro’s forces repelled the Bay of Pigs invasion, which was led by recent Cuban exiles and financed by the U.S. government during the Cold War. In 1964, the Ford Mustang was officially unveiled by Henry Ford II at the World’s Fair in Flushing Meadows, New York. In 1970, the Apollo 13 command module—carrying astronauts James A. Lovell, Jr., Fred W. Haise, Jr. and John L. Swigert, Jr.—entered Earth’s atmosphere and splashed down, ending one of the tensest chapters in space history; four days earlier an oxygen tank had exploded, threatening the lives of the three astronauts. In 1983, author Alice Walker won the Pulitzer Prize for fiction for her book The Color Purple.
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