| | Market Mirror | Wednesday, the Dow was up 60.55 points (0.23%) at 26,124.57, the NASDAQ climbed 79.65 points (0.99%) to 8,109.69, and the S&P 500 closed 16.52 points (0.57%) higher at 2,914.04. The Russell 2000 increased 6.33 points (0.37%) to 1,734.75, and the Wilshire 5000 gained 182.59 points (0.60%) to finish at 30,384.51. The price of the 10-year Treasury note was unchanged, with its yield at 2.883%%. The price of the 30-year Treasury bond increased 6/32, bringing its yield down to 3.023%. | | | Investing | | Wells Fargo Pulls Back on Decision to Use T Shares | | Last May, Wells Fargo Advisors announced it was putting new limits on mutual fund share classes and types of securities advisers can sell or recommend in a client’s retirement account. However, the firm recently announced it was pulling back on plans to use T shares. “In 2017, we made plans to use T shares in brokerage retirement accounts but eventually decided against it,” the firm told PLANSPONSOR in a statement. Although it did answer the question of whether the decision was made in response to the 5th U.S. Circuit Court of Appeals mandate to vacate the DOL’s fiduciary rule, it is clear that T shares and so-called “clean shares” were created to comply with the rule.Read more > | | | Products, Deals and People | | Priority Health Introduces All-Encompassing Wellness Solution | | Priority Health has introduced a new product, PriorityWell, which covers more than just financial and physical wellbeing—extending also to emotional, social and environmental health. In addition, Priority Health has launched a Wellbeing Hub where each employee can address their individual needs.Read more > | | | Small Talk | | ON THIS DATE: In 1645, American Indians and the Dutch made a peace treaty at New Amsterdam. New Amsterdam later became known as New York. In 1862, the Confederates defeated Union forces at the second Battle of Bull Run in Manassas, Virginia. In 1905, Ty Cobb made his major league batting debut with the Detroit Tigers. In 1941, during World War II, the Nazis severed the last railroad link between Leningrad and the rest of the Soviet Union. In 1945, General Douglas MacArthur set up Allied occupation headquarters in Japan. In 1951, the Philippines and the United States signed a defense pact. In 1960, a partial blockade was imposed on West Berlin by East Germany. In 1963, the “Hotline” between Moscow and Washington, D.C., went into operation. In 1965, Thurgood Marshall was confirmed by the U.S. Senate as a Supreme Court justice. Marshall was the first black justice to sit on the Supreme Court. In 1984, President Ronald Reagan, and several others, were inducted into the Sportscasters Hall of Fame. In 1993, on CBS-TV “The Late Show with David Letterman” premiered. In 1994, the largest U.S. defense contractor was created when the Lockheed and Martin Marietta corporations agreed to a merger. In 2002, Conoco Inc. and Phillips Petroleum merged to create ConocoPhillips. The new company was the third largest integrated energy company and the second largest refining company in the U.S. | | SURVEY SAYS: There are arguments on both sides regarding whether paying down debt should be priority over saving for retirement or vice versa. This week, I’d like to know, do you think people should focus on paying down debt before focusing on saving for retirement? And, for you, personally, what is your first priority? You may respond to this question by 6 p.m. Pacific time today.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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