| Sponsored message from Empower Retirement | Boosting the effectiveness of retirement plan communications | Cutting back on jargon and delivering communications where participants want them can help put employees on the right track.Read more > | | Products, Deals and People | Retirement Industry People Moves | BlackRock confirms leadership shift in retirement business; Buck selects wealth practice leader for Central region; and more.Read more > | | Economic Events | Total nonfarm payroll employment increased by 196,000 in March, and the unemployment rate was unchanged at 3.8%, the Bureau of Labor Statistics (BLS) reported. Notable job gains occurred in health care and in professional and technical services. THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about factory orders for February. Wednesday, the BLS will reveal the consumer price index for March. Thursday, the Labor Department will issue its initial claims report, and the BLS will reveal the producer price index for March. | | Market Mirror | Friday, the Dow was up 40.36 points (0.15%) at 26,424.99, the NASDAQ gained 46.91 points (0.59%) to finish at 7,938.69, and the S&P 500 increased 13.35 points (0.46%) to 2,892.74. The Russell 2000 climbed 15.06 points (0.96%) to 1,582.56, and the Wilshire 5000 closed 159.85 points (0.54%) higher at 29,887.07. The price of the 10-year Treasury note was up 6/32, decreasing its yield to 2.494%. The price of the 30-year Treasury bond increased 12/32, bringing its yield down to 2.906%. WEEK’S WORTH: For the week ending April 5, the Dow was up 1.91%, the NASDAQ gained 2.71%, and the S&P 500 increased 2.06%. The Russell 2000 climbed 2.78%, and the Wilshire 5000 finished 2.12% higher. | | Compliance | Senators Propose Requiring Employers to Contribute to Workers’ Savings Accounts | The Saving for the Future Act would require employers to contribute 50 cents to a savings account for each worker for every hour worked, or more than $1,000 a year, with the goal of helping workers prepare for emergencies and retirement.Read more > | | From the Magazine | The Best of Both Worlds | Early balanced funds maintained rigid and conservative asset allocations and have begotten many of today’s staple products that invest across asset classes: target-date funds (TDFs), target-risk funds and diversified real return funds. More recently, fund managers have offered allocation funds, featuring bolder and more dynamic portfolios in markets around the world. These have struggled in a defined contribution (DC) market that gravitates to options with low cost and simplicity in strategies and menus, but in today’s dyspeptic markets, they may offer investors a less bumpy ride.Read more > | | Small Talk | ON THIS DATE: In 1513, explorer Juan Ponce de Leon claimed Florida for Spain. In 1864, the Senate passed the 13th Amendment, abolishing slavery and involuntary servitude, except as punishment for a crime. In 1913, the 17th amendment was ratified, requiring direct election of senators. In 1935, the Works Progress Administration was approved by Congress. In 1952, President Harry Truman seized steel mills to prevent a nationwide strike. In 1975, Frank Robinson of the Cleveland Indians became first black manager of a major league baseball team. In 1986, actor Clint Eastwood was elected mayor of Carmel, California. In 2002, Suzan-Lori Parks became the first African-American woman to win a Pulitzer Prize for drama for her play “Topdog/Underdog.” | SURVEY SAYS RESPONSES: The 2019 NCAA Men’s Basketball tournament champion will be determined today. Last week, I asked NewsDash readers, “Which of the final four would you like to see win the 2019 NCAA Men’s Basketball tournament?” University of Virginia was the favored winner, with 32% of responding readers choosing it. This was followed by Michigan State University, selected by 24% of respondents. Texas Tech was chosen by 13.3% and Auburn University by 9.3%. “Any team but Michigan State” was selected by 2.7% of respondents, and 18.7% said they don’t care who wins. Among the few respondents who chose to leave verbatim comments, some gave reasons for their selections, including rooting for underdogs. A couple expressed pleasure that teams that have never won were in the final four. Several expressed their views that sports should not be a focus of educational institutions and can lead to, as respondent put it, “questionable ethical decisions.” There is no Editor’s Choice this week, but a big thank you to all who responded.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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