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December 3rd, 2019
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
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Construction spending during October was estimated at a seasonally adjusted annual rate of $1,291.1 billion, 0.8% below the revised September estimate of $1,301.8 billion, the Census Bureau announced. The October figure is 1.1% above the October 2018 estimate of $1,277.4 billion. During the first ten months of this year, construction spending amounted to $1,086.5 billion, 1.7% below the $1,105.2 billion for the same period in 2018.
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| Market Mirror |
Yesterday, the Dow lost 268.37 points (0.96%) to finish at 27,783.04, the NASDAQ closed 97.48 points (1.13%) lower at 8,567.99, and the S&P 500 decreased 27.11 points (0.86%) to 3,113.87. The Russell 2000 was down 16.92 points (1.04%) at 1,607.58, and the Wilshire 5000 fell 290.44 points (0.91%) to 31,735.42.
The price of the 10-year Treasury note was down 4/32, increasing its yield to 1.822%. The price of the 30-year Treasury bond decreased 15/32, bringing its yield up to 2.271%.
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Compliance
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DOL Enforcement Efforts Are Wide-Ranging
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While the DOL’s Employee Benefit Security Administration is diligent in protecting employees’ benefits, plan sponsors can also turn to it for help and guidance. 
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ON THIS DATE: In 1818, Illinois was admitted as the 21st state of the union. In 1828, Andrew Jackson was elected president of the United States. In 1833, Oberlin College in Ohio opened as the first truly coeducational school of higher education in the United States. In 1931, Alka Seltzer was sold for the first time. In 1947, the Tennessee Williams play “A Streetcar Named Desire” opened at Broadway’s Ethel Barrymore Theater. In 1950, Paul Harvey began his national radio broadcast. In 1967, in Cape Town, South Africa, a team of surgeons headed by Dr. Christian Barnard, performed the first human heart transplant on Louis Washkansky. In 1973, Pioneer 10 sent back the first close-up images of Jupiter. In 1997, Pierce Brosnan received a star on the Hollywood Walk of Fame. In 1999, Tori Murden became the first woman to row across the Atlantic Ocean alone. It took her 81 days to reach the French Caribbean island of Guadeloupe from the Canary Islands.
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