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December 21st, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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Deals and People
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Aon to Pay $13.4B for NFP
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The two firms will operate independently, with a “connected platform” linking NFP to Aon. 
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| ECONOMIC EVENTS |
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Existing-home sales grew in November, breaking a streak of five consecutive monthly declines, according to the National Association of Realtors. Among the four major U.S. regions, sales climbed in the Midwest and South but receded in the Northeast and West. All four regions experienced year-over-year sales decreases. Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops rose 0.8% from October to a seasonally adjusted annual rate of 3.82 million in November. Year-over-year, sales fell 7.3% (down from 4.12 million in November 2022).
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| MARKET MIRROR |
Wednesday, the Dow fell 475.92 points (1.27%) to close at 37,082.00, the Nasdaq fell 225.28 points (1.50%) to close at 14,777.94 and the S&P 500 fell 70.02 points (1.47%) to close at 4,698.35. The Russell 2000 fell 38.12 points (1.89%) to close at 1,982.84, and the FT Wilshire 5000 Index fell 735.85 points (1.52%) to close at 47,540.40.
The 10-year Treasury note rose 28/32, bringing the yield to 3.856%. The 30-year Treasury bond rose 32/32, bringing the yield to 3.994%.
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ON THIS DATE: In 1898, having recently discovered polonium, future Nobel Prize winners Marie and Pierre Curie discovered the radioactive chemical element radium, a silvery white metal that would be used to treat cancer. In 1913, The New York World published the first modern crossword puzzle. In 1937, the animated movie “Snow White and the Seven Dwarfs” premiered, establishing Walt Disney as one of the world’s most innovative and creative moviemakers. In 1945, U.S. General George Patton, known as “Old Blood-and-Guts” by his men, died following an automobile accident in Germany. In 1958, Charles de Gaulle was elected president of the French Fifth Republic. In 1998, Pan Am flight 103 exploded over Lockerbie, Scotland, because of a terrorist bombing; in 2003 the government of Libya accepted responsibility for the explosion and in 2004 agreed to compensate the families of the victims. In 2012, the music video for South Korean singer PSY’s humorous pop song Gangnam Style became the first video on YouTube to garner one billion views. In 2017, astronaut Bruce McCandless II, the first person to conduct an untethered free flight in space, died at age 80.
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