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April 17th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,321,000, the Census Bureau reported. This is 14.7% below the revised February estimate of 1,549,000 and is 4.3% below the March 2023 rate of 1,380,000. Single‐family housing starts in March were at a rate of 1,022,000; this is 12.4% below the revised February figure of 1,167,000. The March rate for units in buildings with five units or more was 290,000.
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| MARKET MIRROR |
Tuesday, the Dow rose 63.86 points (0.17%) to close at 37,798.97, the Nasdaq fell 19.77 points (0.12%) to close at 15,865.25 and the S&P 500 fell 10.41 points (0.21%) to close at 5,051.41. The Russell 2000 lost 8.23 points (0.42%) to close at 1,967.48, and the FT Wilshire 5000 Index gained 124.41 (0.24%) to close at 50,685.84.
The 10-year Treasury note rose 2/32, bringing the yield to 4.673. The 30-year Treasury bond increased 1/32, bringing the yield to 4.767%.
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ON THIS DATE: In 1970, the Apollo 13 command module 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 1982, the Canada Act, also known as the Constitution Act, took effect, establishing certain individual rights, preserving parliamentary supremacy, and making Canada a wholly independent, fully sovereign state. In 2003, Anneli Jaatteenmaki was sworn in as prime minister of Finland, which became the second country (after New Zealand) to install a woman as head of both state and government. In 2011, the hugely popular TV show “Game of Thrones,” based on George R.R. Martin’s fantasy book series “A Song of Ice and Fire,” debuted on HBO. In 2014, Colombian novelist Gabriel Garcia Marquez—winner of the Nobel Prize for Literature and widely considered one of the greatest writers of the 20th century—died at age 87. In 2018, first lady Barbara Bush—wife of George H.W. Bush, 41st president of the U.S., and mother of George W. Bush, 43rd president of the U.S.—died at age 92.
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| Industry Intel Roundup—Thought Leadership | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring content from thought leadership authorities. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. | | |
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