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December 18th, 2019
Insight on Plan Design & Investment Strategy Every Weekday
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Economic Events |
Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,365,000, the Census Bureau reported. This is 3.2% above the revised October estimate of 1,323,000 and is 13.6% above the November 2018 rate of 1,202,000. Single‐family housing starts in November were at a rate of 938,000; this is 2.4% above the revised October figure of 916,000. The November rate for units in buildings with five units or more was 404,000.
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Market Mirror |
Tuesday, the Dow rose by 31.27 points (0.11%) to reach 28,267.16, the NASDAQ was up by 9.13 points (0.10%) to end at 8,823.36, and the S&P 500 added 1.07 points (0.03%) for a 3,192.52 close. The Russell 2000 was up by 7.63 points (0.46%) to reach 1,657.56, and the Wilshire 5000 gained 24.45 points (0.08%) for a 32,503.70 close.
The price of the 10-year Treasury note was virtually unchanged, with a yield of 1.879%, and the price of the 30-year Treasury bond was down 2/32, lifting its yield to 2.301%.
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Warren Asks DOL Secretary Not to Mimic Reg BI
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The Democratic presidential candidate fears the DOL is considering a fiduciary rule that would permit advisers providing advice on retirement savings to engage in conflicts of interest.
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ON THIS DATE: In 1787, New Jersey became the third state to ratify the U.S. Constitution. In 1898, a new automobile speed record was set at 39 mph. In 1903, the Panama Canal Zone was acquired ‘in perpetuity’ by the U.S. for an annual rent. In 1917, the 18th Amendment to the U.S. Constitution (prohibition) was passed by the Senate then officially proposed the states. In 1944, the U.S. Supreme Court upheld the wartime relocation of Japanese-Americans, but also stated that undeniably loyal Americans of Japanese ancestry could not be detained. In 1956, Japan was admitted to the United Nations. In 1979, the sound barrier was broken on land for the first time by Stanley Barrett when he drove at 739.6 mph. In 1998, the House of Representatives began the debate on the four articles of impeachment concerning President Bill Clinton. In 2009, General Motors announced that it would shut down its Saab brand.
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WEDNESDAY WISDOM: “A single sunbeam is enough to drive away many shadows.”—Francis of Assisi
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