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April 26th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
In the week ending April 20, the advance figure for seasonally adjusted initial claims for unemployment insurance was 207,000, a decrease of 5,000 from the previous week’s unrevised level of 212,000, the Department of Labor reported. The four-week moving average was 213,250, a decrease of 1,250 from the previous week’s unrevised average of 214,500.
Interest on a 30-year fixed-rate mortgage averaged 7.17% for the week ending April 25, up from last week when it averaged 7.10%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 6.43%. Interest on a 15-year fixed-rate mortgage averaged 6.44%, up from last week when it averaged 6.39%. A year ago at this time, the 15-year FRM averaged 5.71%.
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| MARKET MIRROR |
Thursday, the Dow fell 375.12 points (0.98%) to close at 38,085.80, the Nasdaq fell 100.99 points (0.64%) to close at 15,611.76 and the S&P 500 fell 23.22 points (0.46%) to close at 5,048.41. The Russell 2000 lost 14.31 points (0.72%) to close at 1,981.12, and the FT Wilshire 5000 Index lost 238.45 points (0.47%) to close at 50,735.39.
The 10-year Treasury note decreased 5/32, bringing the yield to 4.707%. The 30-year Treasury bond decreased 6/32, bringing the yield to 4.814%.
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PRODUCTS
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Product & Service Launches
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Fiduciary Exchange LLC announces the launch of FIDX; CAPTRUST selects CAIS to consolidate its alternative investment products; Vontobel launches an international equity fund. 
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ON THIS DATE: In 1865, twelve days after assassinating U.S. President Abraham Lincoln, John Wilkes Booth was killed at a Virginia farm either by a Federal solider or by his own hand. In 1933, Hermann Goring formed the Gestapo, the political police of Nazi Germany, that ruthlessly eliminated opposition and was involved in the roundup of Jews throughout Europe for deportation to extermination camps. In 1937, during the Spanish Civil War, the Condor Legion of the German air force, supporting the Nationalists, bombed the Basque city of Guernica, an event memorialized in Pablo Picasso’s painting “Guernica.” In 1964, with the merger of Tanganyika and Zanzibar, the United Republic of Tanzania was founded, and Julius Nyerere served as its first president. In 1986, an explosion and fire at the Chernobyl nuclear power plant in Ukraine released large amounts of radioactive material into the atmosphere. In 1989, actress Lucille Ball—a longtime comedy star of American television, best remembered for her classic comedy series “I Love Lucy”—died at the age of 77. In 2007, Jack Valenti—the longtime president of the Motion Picture Association of America who created the film-rating systems that assigns labels for audience sustainability—died at age 85. In 2018, amid numerous allegations of sexual assault, comedian and actor Bill Cosby was found guilty of drugging and sexually assaulting a woman, and he later received a sentence of three to ten years in prison; his conviction, however, was overturned in 2021.
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