| | Millennials Not Financing Their American Dream | | More than six in 10 Millennials believe the American Dream is still alive today, according to the Bank of the West 2017 Millennial Study. However, Millennials’ savings habits do not align with their goals for the future. They prioritize one day owning a home and saving for retirement—and yet in practice, more Millennials are saving to travel than for either of these two goals.Read more > | | | Market Mirror | Wednesday, the Dow was down 21.03 points (0.10%) at 20,975.09, the NASDAQ was virtually unchanged at 6,025.23, and the S&P 500 decreased by 1.16 (0.05%) to 2,387.45. The Russell 2000 increased 8.36 points (0.59%) to 1,419.43, and the Wilshire 5000 was up 5.81 points (0.02%) at 24,949.21.
On the NYSE, 3.1 billion shares traded, with 1.3 advancing issues for every declining issue. On the NASDAQ, 2.9 billion shares changed hands, with a 1.6 to 1 ratio of advancers to decliners.
The price of the 10-year Treasury note was up 9/32, decreasing its yield to 2.305%. The price of the 30-year Treasury bond increased 16/32, bringing its yield down to 2.962%. | | | Compliance | | DOL Asks to Initiate Surveys About Retirement Strategies | | The Department of Labor (DOL) has submitted for review by the Office of Management and Budget an information collection request titled, “On the Road to Retirement Surveys.” The agency says gaining additional insight into Americans’ decisionmaking processes and experiences will “provide policymakers and the research community with valuable information that can be used to guide future policy and research.”Read more > | | IRS Clarifies Computation of Plan Loans Available to Participants | | A memorandum suggests there are two ways an employer can determine the highest outstanding loan balance in the past year when calculating the amount of an additional loan a participant can take from her DC plan.Read more > | | | Small Talk | | ON THIS DATE: In 1521, Portuguese explorer Ferdinand Magellan was killed by natives in the Philippines. In 1861, West Virginia seceded from Virginia after Virginia seceded from the Union during the American Civil War. In 1865, in the U.S., the Sultana exploded while carrying 2,300 Union POWs. Between 1,400 and 2,000 were killed. In 1880, Francis Clarke and M.G. Foster patented the electrical hearing aid. In 1897, Grant’s Tomb was dedicated. In 1960, the submarine Tullibee was launched from Groton, Connecticut. It was the first sub to be equipped with closed-circuit television. In 1965, “Pampers” were patented by R.C. Duncan. In 1982, the trial of John W. Hinckley Jr. began in Washington, D.C. Hinckley was later acquitted by reason of insanity for the shooting of U.S. President Ronald Reagan and three others. In 1983, Nolan Ryan (Houston Astros) broke a 55-year-old major league baseball record when he struck out his 3,509th batter of his career. In 1989, student protestors took over Tiananmen Square in Beijing. In 1992, Russia and 12 other former Soviet republics won entry into the International Monetary Fund and the World Bank. In 2006, in New York City, construction began on the 1,776-foot One World Trade Center on the site of former World Trade Center. | | SURVEY SAYS: We covered a survey that found two-thirds of workers said they’d likely leave their job if they didn’t feel appreciated. This week, I’d like to know, do you feel appreciated at work, and what forms, if any, of appreciation does your company show? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | | Share the news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
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