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December 12th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
The Producer Price Index for final demand increased 0.3% in November, the Bureau of Labor Statistics reported. Prices for final demand services advanced 0.4%, and the index for final demand goods inched up 0.1%. The index for final demand rose 7.4% for the 12 months ended in November.
Tuesday, the Bureau of Labor Statistics will report the consumer price index for November. Thursday, the Labor Department will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the Census Bureau will report retail sales and total business inventories for November.
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| MARKET MIRROR |
Friday, the Dow decreased 305.02 points (0.90%) to close at 33,476.46, the Nasdaq decreased 77.39 points (0.70%) to close at 11,004.62 and the S&P 500 was down 29.14 points (0.74%) to end trading at 3,934.38. The Russell 2000 decreased 21.63 points (1.19%) to close at 1,796.66 and the Wilshire 5000 decreased 301.47 points (0.77%) to close at 39,011.96.
For the week ending December 9, the Dow lost 2.77%, the Nasdaq decreased 3.99% and the S&P 500 lost 3.37%. The Russell 2000 lost 5.08% and the Wilshire 5000 finished 3.68% lower.
The price of the 10-year Treasury note decreased 30/32, bringing the yield up to 3.584%. The price of the 30-year Treasury bond decreased 2 5/32, bringing the yield up to 3.563%.
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PRODUCTS
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Investment Service and Product Launches
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Preqin brings benchmarking to “opaque” alternative assets market; Fortress start new alternative asset investment division; Pimco fund taps private and commercial real estate; and more. 
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SURVEYS
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CIO’s Transition Management Survey
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Are you a provider of transition management services and want to make your services known to institutional investors? If so, you are invited to respond to CIO’s Transition Management Survey.
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EVENTS
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Plan Progress Webinar: Student Loan Debt Benefits
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Join PLANSPONSOR and a panel of experts on December 15 to learn what options are available for student loan debt benefits, their structure and cost; how student loan repayment help fits into an employer’s overall financial wellness benefits; what communications employees need about student loan debt and saving for retirement, and more.
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ON THIS DATE: In 1787, Pennsylvania became the second state to ratify the U.S. Constitution. In 1901, Italian physicist and radio pioneer Guglielmo Marconi succeeded in sending the first radio transmission across the Atlantic Ocean. In 1940, five-time Grammy Award-winning singer Dionne Warwick was born. In 1964, Kenya became a republic, thereby removing Queen Elizabeth II as head of state, on the first anniversary of its independence from the United Kingdom. In 1965, rookie running back Gale Sayers of the Chicago Bears scored six touchdowns in a single game against the San Francisco 49ers at Chicago’s Wrigley Field, tying the NFL record for most touchdowns in a single game. In 2000, the U.S. Supreme Court ruled that a fair recount of ballots in Florida could not be performed by the deadline for certifying the state’s electors, effectively ending the presidential election in favor of George W. Bush.
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