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| Economic Events | |
| Construction spending during February was estimated at a seasonally adjusted annual rate of $1,273.1 billion, 0.1% above the revised January estimate of $1,272.2 billion, the Census Bureau announced. The February figure is 3.0% above the February 2017 estimate of $1,235.7 billion. During the first two months of this year, construction spending amounted to $176.3 billion, 4.4% above the $168.9 billion for the same period in 2017. | |
| Market Mirror | |
Yesterday, the Dow was down 458.92 points (1.90%) at 23,644.19, the NASDAQ fell 193.33 points (2.74%) to 6,870.12, and the S&P 500 decreased 58.99 points (2.23%) to 2,581.88. The Russell 2000 lost 36.90 points (2.41%) to close at 1,492.53, and the Wilshire 5000 closed 616.41 points (2.25%) lower at 26,794.31. The price of the 10-year Treasury note was down 1/32, increasing its yield to 2.741%. The price of the 30-year Treasury bond was up 2/32, decreasing its yield to 2.972%. | |
| Sponsored message from PlanPILOT | |
| Protecting Your Retirement Plan from Lawsuits How to effectively design and implement retirement plan oversight functions and minimize lawsuit risk.Read more > | |
| Compliance | |
| NYU Asks to Exclude Certain Evidence from Trial in 403(b) Plans Case | |
| The university also asks that the plaintiffs not be able to attempt to use evidence that their prudent measures and conduct that occurred subsequent to the plaintiffs’ filing of the lawsuit proves that prior conduct was imprudent.Read more > | |
| From the Magazine | |
| In the Beginning | |
| “I remember it all too well,” says Charles Ruffel, fondly. More familiarly known as Charlie, our publication’s founder, laughs and says, “We saw a niche that obviously mattered but was starved of information, so we started a magazine and called it PLANSPONSOR. A lot of people hardly knew what a plan sponsor was—it was more a technical term then—but we liked the focus.” Ruffel discusses what led to the magazine’s creation.Read more > | |
| Investing | |
| Analysis Shows Long-Term 401(k) Participants Can Withstand Investment Volatility | |
| Taking a look at the cumulative average account balance changes for consistent 401(k) participants among the full universe of the EBRI/Investment Company Institute (ICI) database, the recent drops are minor in comparison.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1776, George Washington received an honorary Doctor of Laws degree from Harvard College. In 1860, the first Pony Express riders left St. Joseph, Missouri, and Sacramento, California. The trip across country took about 10 days. In 1942, the Japanese began their all-out assault on the U.S. and Filipino troops at Bataan. In 1948, President Harry Truman signed the Marshall Plan to revive war-torn Europe. It was $5 billion in aid for 16 countries. In 1949, Dean Martin and Jerry Lewis debuted on radio on the “Martin and Lewis Show.” In 1953, “TV Guide” was published for the first time. In 1968, Martin Luther King Jr. delivered his “mountaintop” speech just 24 hours before he was assassinated. In 1993, the Norman Rockwell Museum opened in Stockbridge, Massachusetts. In 1996, Unabomber suspect Theodore Kaczynski was arrested. He pled guilty in January 1998 to five Unabomber attacks in exchange for a life sentence without chance for parole. In 2010, the first Apple iPad was released. | |
| TRIVIAL PURSUITS: Of all mammals, which has the most teeth?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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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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