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August 1st, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Today, the Census Bureau will report about construction spending for May. Wednesday, the Census Bureau will reveal new factory orders for June. Thursday, Freddie Mac will report average interest on 15-year and 30-year fixed-rate mortgages and the Department of Labor will report about weekly claims for unemployment insurance. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for July.
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| MARKET MIRROR |
Friday, the Dow increased 315.50 points (0.97%) to close at 32,845.13, the Nasdaq gained 228.10 points (1.88%) to close at 12,390.69 and the S&P 500 jumped 57.86 points (1.42%) to 4,130.29. The Russell 2000 expanded 12.20 points (0.65%) to 1,885.23 and the Wilshire 5000 increased 499.27 points (1.25%) to 40,557.78.
For the week ending July 29, the Dow increased 2.97%, the Nasdaq spiked 4.70% and the S&P 500 gained 4.26%. The Russell 2000 jumped 4.34% and the Wilshire 5000 finished 2.75% higher.
The price of the 10-year Treasury note increased 2/32, bringing its yield down to 2.656%. The price of the 30-year Treasury bond increased 23/32, brining its yield down to 3.024%.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Mesirow strategic fixed income adds key specialist; Mercer appoints U.S. not-for-profit CIO; and Schroders appoints sustainability investment director. 
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ON THIS DATE: In 1790, the first U.S. census was completed with a total population of 3,929,214 recorded. The areas included were the present states of Connecticut, Delaware, Georgia, Kentucky, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, North Carolina, South Carolina, Tennessee, Vermont and Virginia. In 1818, the first female astronomer in the United States, Maria Mitchell—the first American scientist to discover a comet—was born. Mitchell was an early advocate for science and math education for girls and the first female astronomy professor. In 1819, American writer Herman Melville—author of novels of the sea including “Moby Dick”—was born. In 1876, Colorado was admitted to the union, becoming the 38th U.S. state. In 1879, Mary Eliza Mahoney graduated from the New England Hospital for Women and Children and became the first Black professional nurse in America. In 1907, the U.S. Army established an aeronautical division that became the U.S. Air Force. In 1914, four days after Austria-Hungary declared war on Serbia, Germany and Russia declared war against each other, France ordered a general mobilization and the first German army units crossed into Luxembourg in preparation for the German invasion of France. In 1936, the Summer Olympics opened in Berlin, and the efforts by Adolf Hitler and the Nazi Party to demonstrate the superiority of the “Aryan race” were undermined by the success of African American athletes, notably Jesse Owens. In 1981, the cable television network MTV debuted, with the broadcast of the music video for “Video Killed the Radio Star” by the Buggles. In 1987, Mike Tyson defeated Tony Tucker and was unanimously recognized as heavyweight champion by all three sanctioning organizations. In 1996, author George R.R. Martin published “A Game of Thrones,” the first installment in his hugely popular fantasy series, “A Song of Ice and Fire.” In 2006, Cuban leader Fidel Castro turned over absolute power when he gave his brother Raul authority while he underwent an intestinal surgery.
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