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April 4th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Construction spending during February was estimated at a seasonally adjusted annual rate of $1,844.1 billion, 0.1% below the revised January estimate of $1,845.4 billion, the Census Bureau reported. The February figure is 5.2% above the February 2022 estimate of $1,753.1 billion.
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| MARKET MIRROR |
Monday, the Dow gained 327.00 points (0.98%) to close at 33,601.15, the Nasdaq fell 32.45 points (0.27%) to close at 12,189.45 points and the S&P 500 gained 15.20 points (0.37%) to close at 4,124.51. The Russell 2000 dropped 0.17 points (0.01%) to close at 1,802.31 and the Wilshire 5000 rose 108.98 points (0.27%) to close at 40,817.40.
The price of the 10-year Treasury note increased 5/32, bringing the yield to 3.418%. The price of the 30-year Treasury bond increased 3/32, bringing the yield to 3.636%.
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AWARDS
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2022 DC Survey Standouts Named
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13 firms received the highest marks when, nationwide, sponsors of defined contribution plans answered questions about their satisfaction with recordkeeping providers, in the 2022 PLANSPONSOR Defined Contribution Survey. Learn which service providers are being recognized. 
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ON THIS DATE: In 1841, after serving for only one month, William Henry Harrison became the first U.S. president to die in office; he was succeeded by Vice President John Tyler. In 1928, American poet Maya Angelou was born. In 1949, the North Atlantic Treaty Organization was formed. The founding member nations of the military alliance were Belgium, Canada, Denmark, France, Iceland, Luxembourg, the Netherlands, Norway, Portugal, the United Kingdom and the United States. In 1968, Martin Luther King Jr. was assassinated by James Earl Ray in Memphis, Tennessee, while supporting a strike by the city’s sanitation workers. In 1973, the original World Trade Center twin towers opened in New York. At the time, they were the tallest buildings in the world. In 1975, Bill Gates and Paul Allen founded Microsoft, which became the world’s largest personal-computer software company. In 2013, American film critic Roger Ebert, who was the first to receive a Pulitzer Price for film criticism, died at the age of 70.
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