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December 5th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
Total nonfarm payroll employment increased by 263,000 in November, and the unemployment rate was unchanged at 3.7%, according to the Bureau of Labor Statistics. Notable job gains occurred in leisure and hospitality, health care, and government. Employment declined in retail trade and in transportation and warehousing.
Monday, the Census Bureau will report factory orders for November. Thursday, the Labor Department will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor Statistics will report the producer price index for November.
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| MARKET MIRROR |
Friday, the Dow gained 34.87 points (0.10%) to close at 34,429.88, the Nasdaq lost 20.95 points (0.18%) to close at 11,461.50 and the S&P 500 lost 4.87 points (0.12%) to end trading at 4,071.70. The Russell 2000 increased 11.16 points (0.59%) to close at 1,892.84 and the Wilshire 5000 decreased 30.27 points (0.07%) to close at 40,503.14.
The price of the 10-year Treasury note decreased 1/32 and the yield was down to 3.494%. The price of the 30-year Treasury bond decreased 3/32 and the yield was down to 3.594%.
For the week ending December 2, the Dow gained 0.24%, the Nasdaq increased 2.09% and the S&P 500 gained 1.13%. The Russell 2000 gained 1.27% and the Wilshire 5000 finished 1.21% higher.
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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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EVENTS
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Plan Progress Webinar: Student Loan Debt Benefits
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Join PLANPSONSOR and a panel of experts on December 15 to learn what options are available for student loan debt benefits, their structure and cost; how student loan repayment help fits into an employer’s overall financial wellness benefits; what communications employees need about student loan debt and saving for retirement, and more.
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ON THIS DATE: In 1791, Austrian composer Wolfgang Amadeus Mozart died in Vienna at age 35. In 1848, in his annual message to Congress, President James K. Polk confirmed the discovery of gold in California, helping to spark the 1849 Gold Rush, which brought an estimated 300,000 people to the territory. In 1933, the 21st Amendment to the U.S. Constitution was ratified, repealing the 18th Amendment and ending national prohibition of alcohol in America. In 1955, the American Federation of Labor–Congress of Industrial Organizations (AFL-CIO) became a united body of autonomous labor unions, with George Meany as its first president. In 1985, the Dow Jones Industrial Average rose above 1,500 for the first time. In 2013, South African nationalist and statesman Nelson Mandela, who helped end the country’s apartheid system of racial segregation and ushered in a peaceful transition to majority rule, died at age 95.
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