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April 7th, 2025
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Friday, total nonfarm payroll employment rose by 228,000 in March, and the unemployment rate changed little at 4.2% , the U.S. Bureau of Labor Statistics reported. Thursday, the Department of Labor will issue its initial jobless claims report, and Freddie Mac will update average mortgage rates for the week.
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| MARKET MOVES |
Friday, the Dow fell 2,231.07 points (5.50%) to close at 38,314.86, the Nasdaq fell 962.82 points (5.82%) to close at 15,587.79 and the S&P 500 fell 322.44 points (5.98%) to close at 5,074.08. The Russell 2000 fell 83.51 points (4.37%) to close at 1,827.03, and the FT Wilshire 5000 Index fell 3,155.14 points (5.87%) to close at 50,558.95.
The 10-year Treasury note rose 2/32, bringing the yield to 4.009%. The 30-year Treasury bond increased 31/32, bringing the yield to 4.422%.
In the week ending April 4, the Dow fell 8.53%, the Nasdaq fell 11.13% and the S&P 500 fell 9.99%. The Russell 2000 fell 10.74%, and the FT Wilshire 5000 Index finished 10.15% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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WTW makes health, wealth and career appointments; Allspring Global Investments to get new CEO; Oliver Nisenson to join PGIM Fixed Income as head of asset-based finance; and more. 
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EVENTS
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Register for 2025 PLANSPONSOR National Conference
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Don’t miss the unique cross section of the retirement plan industry and engaging and insightful presentations and panel discussions throughout the conference, taking place at the Chicago Marriott Downtown Magnificent Mile, June 3 – 6, 2025. Find agendas for the half-day immersive workshops and the rest of the event at this link:
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ON THIS DATE: In 1947, industrialist Henry Ford, who revolutionized factory products with his assembly-line methods and was the founder of the Ford Motor Company, died at age 83. In 1948, the World Health Organization, a specialized agency of the UN, was formally established. In 1963, professional golfer Jack Nicklaus, a dominating figure in world gold rom the 1960s to the 80s and the winner of 73 PGA tour events in his career won the Masters Tournament at age 23. In 1994, Rwandan Prime Minister Agathe Uwilingiyimana was assassinated by Hutu soldiers as Rwanda entered a period of anarchy and mass killings. In 2001, NASA launched the Mars Odyssey spacecraft, which reached Mars in October and transmitted photos and other data back to scientists on Earth. In 2012, television journalist Mike Wallace, noted for his long-running TV newsmagazine program “60 Minutes,” died at age 93.
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