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December 11th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
Total nonfarm payroll employment increased by 199,000 in November, and the unemployment rate edged down to 3.7%, the U.S. Bureau of Labor Statistics reported. Job gains occurred in health care and government. Employment also increased in manufacturing, reflecting the return of workers from a strike. Employment in retail trade declined.
Tuesday, the Bureau of Labor Statistics will announce the Consumer Price Index for November. Wednesday, the Bureau of Labor Statistics will report the Producer Price Index for November. Thursday, the Department of Labor will release its initial jobless report, and the Freddie Mac will update average mortgage rates for the week.
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| MARKET MIRROR |
Friday, the Dow rose 130.49 points (0.36%) to close at 36,247.87, the Nasdaq rose 63.98 points (0.45%) to close at 14,403.97 and the S&P 500 rose 18.78 points (0.41%) to close at 4,604.37. The Russell 2000 gained 12.57 points (0.67%) to close at 1,880.82, and the FT Wilshire 5000 Index gained 207.79 points (0.45%) to close at 46,421.70.
The 10-year Treasury note decreased 6/32, bringing the yield to 4.230%. The 30-year Treasury bond decreased 30/32, bringing the yield to 4.304%.
For the week ending December 8, the Dow rose 0.01%, the Nasdaq rose 0.69% and the S&P 500 rose 0.21%. The Russell 2000 gained 0.98%, and the FT Wilshire 5000 Index finished 0.27% higher.
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ON THIS DATE: In 1936, Edward VII, failing to win acceptance for his desire to marry American divorcée Wallis Warfield Simpson, became the only British sovereign to voluntarily resign the crown. In 1941, Adolf Hitler declared that Germany was at war with the U.S. following the Japanese attacks on the U.S., British and Dutch positions in the Pacific and in East Asia. In 1946, UNICEF—a United Nations program devoted to improving the health, nutrition, education and general welfare of children—was established. In 1972, Apollo 17 astronauts Eugene Cernan and Harrison Schmitt became the last humans to walk on the Moon. In 1978, nearly $6 million in cash and jewels was stolen from the air cargo building of the German airline Lufthansa at John F. Kennedy International Airport in New York City; at the time, the Lufthansa heist, as it became known, was the largest-ever cash theft in the U.S. In 1981, boxer Muhammed Ali fought his last professional bout, losing to Trevor Berbick in a decision. In 1994, Russian troops invaded Chechnya in an effort to suppress a rebel Chechen government led by Dzhokhar Dudayev. In 1998, the Judiciary Committee of the U.S. House of Representatives recommended three articles of impeachment against President Bill Clinton, to which would be added a fourth article the following day, for actions taken in connection with his affair with White House intern Monica Lewinsky. In 2012, Indian sitarist Ravi Shankar, who was influential in stimulating Western appreciation of Indian music, died at age 92.
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