|
August 2nd, 2024
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
In the week ending July 27, the advance figure for seasonally adjusted initial claims was 249,000, an increase of 14,000 from the previous week’s unrevised level of 235,000, the Department of Labor reported. The four-week moving average was 238,000, an increase of 2,500 from the previous week’s unrevised average of 235,500.
Interest on a 30-year fixed-rate mortgage averaged 6.73% for the week ending July 25, down from last week when it averaged 6.78%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 6.90%. Interest on a 15-year fixed-rate mortgage averaged 5.99%, down from last week when it averaged 6.05%. A year ago at this time, the 15-year FRM averaged 6.11%.
|
|
|
|
| MARKET MIRROR |
Thursday, the Dow fell 494.82 points (1.21%) to close at 40,347.97, the Nasdaq fell 405.26 points (2.30%) to close at 17,194.15 and the S&P 500 fell 75.62 points (1.37%) to close at 5,446.68. The Russell 2000 fell 68.32 points (3.03%) to close at 2,186.16, and the FT Wilshire 5000 Index fell 841.05 points (1.52%) to close at 54,588.79.
The 10-year Treasury note increased 26/32, bringing the yield to 3.982%. The 30-year Treasury bond increased 5/32, bringing the yield to 4.281%.
|
|
|
|
PRODUCTS
|
|
Product & Service Launches
|
Morgan Stanley at Work launches new digital experience for benefits participants; Alight releases the latest version of its employee experience platform; Voya offers a new stable value solution; and more. 
|
|
|
|
|
|
|
ON THIS DATE: In 1920, Marcus Garvey, Black leader and founder of the Universal Negro Improvement Association, reached the height of his power as he presided at an international convention in New York City. In 1924, essayist, novelist and playwright James Baldwin, who wrote with passion on the subject of racism in the U.S., was born. In 1943, PT-109, a U.S. Navy torpedo boat under John F. Kennedy’s command, was sunk by a Japanese destroyer during World War II. In 1990, Iraq invaded Kuwait, and Saddam Hussein’s subsequent refusal to withdraw his troops sparked the Persian Gulf War, in which an international force led by the U.S. quickly defeated Iraq. In 1992, at the Summer Olympics in Barcelona, athlete Jackie Joyner-Kersee, considered by many to be the greatest female athlete ever, won the heptathlon, becoming the first person to win the event in consecutive games. In 2016, chemist Ahmed H. Zewail, who in 1999 became the first Egyptian and the first Arab to win a Nobel Prize in a science category (chemistry), died at age 70.
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
Copyright ©2025 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
|
|
702 King Farm Boulevard, Suite 300, Rockville, MD 20850
|
|
|
