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December 13th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
In the week ending December 7, the advance figure for seasonally adjusted initial claims was 242,000, an increase of 17,000 from the previous week’s revised level of 225,000. The four-week moving average was 224,250, an increase of 5,750 from the previous week’s revised average of 218,500.
Interest on a 30-year fixed-rate mortgage averaged 6.6% for the week ending December 12, down from last week when it averaged 6.69%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 6.95%. Interest on a 15-year fixed-rate mortgage averaged 5.84%, down from last week when it averaged 5.96%. A year ago at this time, the 15-year FRM averaged 6.38%.
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| MARKET MIRROR |
Thursday, the Dow fell 234.44 points (0.53%) to close at 43,914.12, the Nasdaq fell 132.05 points (0.66%) to close at 19,902.84 and the S&P 500 fell 32.94 points (0.54%) to close at 6,051.25. The Russell 2000 fell 33.08 points (1.38%) to close at 2,361.08, the FT Wilshire 5000 Index fell 358.90 points (0.59%) to close at 60,915.79.
The 10-year Treasury note decreased 5/32, bringing the yield to 4.334%. The 30-year Treasury bond decreased 32/32, bringing the yield to 4.547%.
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PRODUCTS
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Product & Service Launches
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AllianceBernstein launches two active buffer ETFs; J.P. Morgan partners with CAIS to allow advisers access to alternative investments; and Pontera partners with Independent Advisor Alliance. 
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ON THIS DATE: In 1921, the Four-Power Pact was signed during the Washington Conference by the U.S., Great Britain, Japan and France, stipulating that all the signatories would be consulted in the event of a controversy between two of them over “any Pacific question.” In 1934, British astronomer J.P.M. Prentice discovered Nova Herculis, one of the brightest novas of the 20th century. In 1937, the Japanese Imperial Army seized Nanjing, China, during the Sino-Japanese War, leading to the Nanjing Massacre, in which up to 300,000 Chinese may have been killed. In 1956, the film drama “Anastasia” was released in American theaters. In 1989, singer, songwriter, record producer, director and businesswoman Taylor Swift was born in West Reading, Pennsylvania. In 2003, Iraqi President Saddam Hussein was captured by U.S. forces during the Iraqi War; three years later he was found guilty of crimes against humanity and was executed.
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