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April 19th, 2023
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 1,420,000, the Census Bureau announced. This is 0.8% below the revised February estimate of 1,432,000 and is 17.2% below the March 2022 rate of 1,716,000. Single-family housing starts in March were at a rate of 861,000; this is 2.7% above the revised February figure of 838,000. The March rate for units in buildings with five units or more was 542,000.
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| MARKET MIRROR |
Tuesday, the Dow lost 10.55 points (0.03%) to close at 33,976.63, the Nasdaq lost 4.31 points (0.04%) to close at 12,153.41 and the S&P 500 gained 3.55 points (0.09%) to close at 4,154.87. The Russell 2000 fell 7.29 points (0.40%) to close at 1,795.55 and the Wilshire 5000 rose 22.63 points (0.06%) to close at 41,059.04.
The price of the 10-year Treasury note increased 2/32, bringing the yield to 3.578%. The price of the 30-year Treasury bond increased 26/32, bringing the yield to 3.791%.
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ON THIS DATE: In 1775, the American Revolution began with the Battles of Lexington and Concord. The war was an effort by 13 British colonies in North America (with help from France, Spain and the Netherlands) to win their independence. In 1943, the Warsaw Ghetto Uprising, an act of resistance by Polish Jews under Nazi occupation, began and was quelled four weeks later. In 1960, students in South Korea began demonstrating against President Syngman Rhee, who had declared victory in the national election, which many claimed was marred by fraud. The unrest grew, ultimately forcing Rhee to resign. In 1975, the first uncrewed Earth satellite built by India, called Aryabhata, was launched from the Soviet Union by a Russian-made rocket. In 1995, a truck bomb nearly destroyed the Alfred P. Murrah Federal Building in Oklahoma City, killing 168 and injuring more than 500 people. In 2005, Cardinal Joseph Ratzinger was elected to succeed Pope John Paul II, who had died some two weeks earlier. Ratzinger took the name Benedict XVI.
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| Industry Intel Roundup—Featured White Paper | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring white papers offering key insights and analysis about the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. | | | | |
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