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April 29th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Conference Board will report the consumer confidence index for April. Wednesday, the Census Bureau will report construction spending for March. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor Statistics will report the unemployment rate for May.
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| MARKET MIRROR |
Friday, the Dow rose 153.86 points (0.40%) to close at 38,239.66, the Nasdaq rose 316.14 points (2.03%) to close at 15,927.90 and the S&P 500 rose 51.54 points (1.02%) to close at 5,099.96. The Russell 2000 rose 20.88 points (1.05%) to close at 2,002.00, and the FT Wilshire 5000 Index rose 502.70 points (0.99%) to close at 51,238.09.
The 10-year Treasury note 3/32, bringing the yield to 4.666%. The 30-year Treasury bond 6/32, bringing the yield to 4.779%.
For the week ending April 25, the Dow rose 0.67%, the Nasdaq rose 4.23% and the S&P 500 rose 2.67%. The Russell 2000 rose 2.79%, and the FT Wilshire 5000 Index ended 1.56% higher.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Voya Adds Two New MEP Roles; Congruent Creates Chief Revenue Officer Role; PCS Hires Kirtland to lead business development; and more. 
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SPECIAL COVERAGE
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403(b) Plans
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An examination of the challenges and considerations employers face when offering 403(b) plans.
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ON THIS DATE: In 1770, British explorer James Cook made his first landing in Australia, at Botany Bay. In 1899, composer, bandleader and pianist Duke Ellington was born in Washington, D.C. In 1916, about 10,000 British troops surrendered to Ottoman Turks at Al-Kūt, Iraq, following a five-month siege during World War I. In 1936, orchestral conductor Zubin Mehta was born in Mumbai, India. In 1945, the U.S. Seventh Army liberated tens of thousands of inmates at the Nazi concentration camp in Dachau, Germany. In 1954, comedian Jerry Seinfeld was born in Brooklyn, New York. In 1991, a tropical cyclone struck Bangladesh, killing an estimated 140,000 people and causing 10 million to lose their homes. In 1992, riots erupted in Los Angeles in response to the verdict of a highly publicized trial of four white Los Angeles police officers who were acquitted of charges related to the 1991 beating of Rodney King, a Black motorist. In 2011, Prince William of Wales, second in line to the British throne, married his longtime girlfriend, Catherine Middleton. In 2015, in what was thought to be the lowest-attended baseball game in MLB history, the Baltimore Orioles defeated the Chicago White Sox, 8–2, in an empty Camden Yards, Baltimore; the game was closed to fans because of rioting in the city following the death of an African American man who was fatally injured while in police custody. In 2018, the animated TV series “The Simpsons,” aired its 636th episode, surpassing “Gunsmoke,” to become the longest-running scripted prime-time show in the U.S.
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