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December 19th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Census Bureau will report new housing starts for November. Wednesday, the National Association of Realtors will report existing home sales for November and the Conference Board will report the Consumer Confidence Index for December. Thursday, the Labor Department will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. Friday, the Census Bureau will report new orders for manufactured durable goods and new home sales for November.
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| MARKET MIRROR |
Friday, the Dow decreased 281.76 points (0.85%) to close at 32,920.46, the Nasdaq lost 105.11 points (0.97%) to close at 10,705.41 and the S&P 500 decreased 43.39 points (1.11%) to close at 3,852.36. The Russell 2000 decreased 11.19 points (0.63%) to close at 1,763.42 and the Wilshire 5000 lost 410.55 points (1.06%) to close at 38,217.00.
The price of the 10-year Treasury note increased 1/32 and the was yield up to 3.489%. The price of the 30-year Treasury bond rose 2/32 to yield 3.545%.
For the week ending December 16, the Dow lost 1.66%, the Nasdaq decreased 2.72% and the S&P 500 lost 2.08%. The Russell 2000 lost 1.85% and the Wilshire 5000 finished 2.04% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Northern Trust makes key fund hires; Edelman Financial Engine buys California-based retirement advisory; Prime Capital partners with PFS to enter Sioux Falls and South Dakota markets; 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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ON THIS DATE: In 1775, Thomas Paine published his first “American Crisis” essay. In 1777, General George Washington led his army of about 11,000 men to Valley Forge, Pennsylvania, to camp for the winter. In 1917, the first games of the new National Hockey League were played. Five teams made up the league: Toronto Arenas, Ottawa Senators, Quebec Bulldogs, the Montreal Canadiens and the Montreal Wanderers. In 1924, the late-actress and former fashion model, Cicely Tyson, was born. Her acting career spanned more than six decades: Tyson won three Primetime Emmy Awards, four Black Reel Awards, one Screen Actor Guild Award, one Tony Award and an honorary Academy Award. In 1990, Bo Jackson became the first athlete picked for the National Football League and Major League Baseball. all-star games. In 1997, James Cameron’s Titanic, a drama about the doomed ocean liner starring Leonardo DiCaprio and Kate Winslet, premiered; it later became one of the highest-grossing movies of all time. In 1998, the House of Representatives impeached President Bill Clinton, charging him with perjury and obstruction of justice. Clinton was acquitted by the Senate the following month. In 2008, President George W. Bush signed a $17.4 billion rescue package of loans for ailing auto makers General Motors and Chrysler.
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