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 | Options for Providing Student Loan Repayment Benefits IncreasingPaying off student loan debt helps employees be able to save for retirement—some benefits allow for both at the same time—and more options for providing this benefit have been introduced.Read more > |
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| Sponsored message from Capital Group | |
| Your people make your company great. | |
| Show them you value their hard work. Give them the 401(k) they deserve with the target date series from Capital Group, home of American Funds®.Read more > | |
| Economic Events | |
Privately‐owned housing starts in July were at a seasonally adjusted annual rate of 1,191,000, the Census Bureau reported. This is 4.0% below the revised June estimate of 1,241,000, but is 0.6% above the July 2018 rate of 1,184,000. Single‐family housing starts in July were at a rate of 876,000; this is 1.3% above the revised June figure of 865,000. The July rate for units in buildings with five units or more was 303,000. THE ECONOMIC WEEK AHEAD: Wednesday, the National Association of Realtors will report about existing home sales for July. Thursday, the Labor Department will issue its initial claims report. Friday, the Census Bureau will report about new home sales for July. | |
| Market Mirror | |
Friday, the Dow gained 306.62 points (1.20%) to finish at 25,886.01, the NASDAQ closed 129.38 points (1.67%) higher at 7,895.99, and the S&P 500 increased 41.08 points (1.44%) to 2,888.68. The Russell 2000 was up 31.99 points (2.19%) at 1,493.64, and the Wilshire 5000 climbed 441.45 points (1.51%) to 29,597.82.
The price of the 10-year Treasury note was down 3/32, increasing its yield to 1.558%. The price of the 30-year Treasury bond fell 1 27/32, increasing its yield to 2.037%. WEEK’S WORTH: For the week ending August 16, the Dow fell 1.53%, the NASDAQ was down 0.79%, and the S&P 500 decreased 1.03%. The Russell 2000 lost 1.28%, and the Wilshire 5000 finished 1.16% lower. | |
| Compliance | |
| Brokers Charged With Improper Handling of ADRs | |
| Cantor Fitzgerald & Co. and BMO Capital Markets Corporation will pay to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).Read more > | |
| Sponsored message from Capital Group | |
| Your employees go above and beyond. | |
| Learn how you can give them the 401(k) they deserve with the target date series from Capital Group, home of American Funds®.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1856, Gail Borden received a patent for his process of condensing milk by vacuum. In 1909, the first car race to be run on brick occurred at the Indianapolis Motor Speedway. In 1929, “Amos and Andy,” the radio comedy program, made its debut on NBC starring Freeman Gosden and Charles Correll. In 1934, Adolf Hitler was approved for sole executive power in Germany as Fuehrer. In 1940, the new Civil Aeronautics Administration awarded honorary license No. 1 to Orville Wright. In 1999, Lorne Michaels received a star on the Hollywood Walk of Fame. In 2004, Google Inc. stock began selling on the Nasdaq Stock Market. The initial price was set at $85 and ended the day at $100.34 with more than 22 million shares traded. | |
| SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “How many jobs have you had since finishing your education?” More than seven in 10 (7.7%) of responding readers consider themselves to be Millennials, 26.9% said they are Gen Xers, 63.5% Baby Boomers and 1.9% members of the Silent Generation. A small percentage (5.8%) of respondents reported they have had more than 10 jobs since finishing their education, while nearly one-quarter (24%) indicated they have had six to 10. Another 62.5% said they’ve had two to five jobs, and 7.7% have had only one. In verbatim comments, readers shared why they’ve had as many jobs as they’ve had. Some moves have been by choice; others were forced. Reasons to stay included having a defined benefit (DB) plan, having a good manager and/or good coworkers and ability to change responsibilities or move up. Reasons to leave included bad managers, toxic environment, to advance or increase salary. Several pointed out they’ve had more job changes than employer changes. Editor’s Choice goes to the reader who said: “If work isn’t fun, you’re not playing on the right team.” Thank you to all who participated in the survey!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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