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April 21st, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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INSIDE ANGLE
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The Next Chapter
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The DOL is back in court over the investment advice fiduciary definition. 
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| ECONOMIC EVENTS |
Existing-home sales fell for the second straight month in March, according to the National Association of Realtors. Existing-home sales fell for the Northeast, Midwest, and South while sales held steady in the U.S West region, compared to March. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, dipped 2.7% from February to a seasonally adjusted annual rate of 5.77 million in March. Year-over-year, sales fell 4.5% (6.04 million in March 2021).
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| MARKET MIRROR |
Wednesday, the Dow gained 249.59 points (0.71%) to close at 35,160.79, the Nasdaq was down 166.59 points (1.22%) to finish at 13,453.07, and the S&P 500 fell 2.76 points (0.06%) to 4,459.45. The Russell 2000 climbed 7.42 points (0.37%) to 2,038.18, and the Wilshire 5000 dropped 192.26 points (0.43%) to 44,774.78.
The price of the 10-year Treasury note increased 30/32 bringing its yield down to 2.848%. The price of the 30-year Treasury note increased 2 3/32 decreasing its yield to 2.876%.
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ON THIS DATE:In 1649, the Maryland Toleration Act was passed to allow freedom of worship. In 1789, John Adams was sworn in as the first U.S. Vice President. In 1856, the Mississippi River was crossed by a rail train for the first time between Davenport, Iowa, and Rock Island, Illinois. In 1836, during the Texan War for Independence, General Sam Houston defeated the forces of Mexican General Santa Anna at the Battle of San Jacinto. In 1865, a train that carried the coffin of assassinated President Abraham Lincoln left Washington, D.C., for Springfield, Illinois, where he would be buried. In 1895, Woodville Latham and his sons, Otway and Gray, demonstrated the “Panopticon,” the first movie projector developed in the U.S. In 1918, German fighter ace Manfred von Richthofen, “The Red Baron,” was shot down and killed during World War I. In 1967, General Motors celebrated the manufacture of its 100 millionth American-made car. In 1984, in France, it was announced that doctors had found the virus believed to cause AIDS. In 1989, the Game Boy handheld video game device was released in Japan. In 2016, legendary musician Prince, who created more than 30 albums and wone seven Grammy awards over a 40-year career was found dead at age 57.
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