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December 6th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
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New orders for US manufactured goods rose by 1% in October, following a 0.3% increase in the prior month and above market expectations of a 0.7% gain, the Census Bureau reported. Orders for durable goods rose by 0.4% compared to 0.3% in September, largely due to increased orders for transportation equipment, machinery and computers and electronic products. Also, demand for non-durable goods advanced 1%, up from a 0.3 % increase. Excluding transportation, factory orders went up 0.8%.
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| Market Mirror |
Monday, the Dow fell 482.78 points (1.40%) to close at 33, 947.10, the Nasdaq lost 221.56 points (1.93%) to close at 11,239.94 and the S&P 500 lost 72.86 points (1.79%) to end trading at 3,998.84. The Russell 2000 dropped 52.62 points (2.78%) to close at 1,840.22 and the Wilshire 5000 decreased 809.04 points (2.00%) to close at 39,695.10.
The price of the 10-year Treasury note rose 2/32 bringing the yield to 3.585%. The price of the 30-year Treasury bond rose 1/32 and bringing the yield down to 3.586%.
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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 1790, Congress moved from New York to Philadelphia. In 1865, the 13th Amendment to the U.S. Constitution, intended to end the institution of slavery, was ratified. In 1877, Thomas Edison demonstrated the first gramophone, with a recording of himself reciting Mary Had a Little Lamb. In 1883, “Ladies’ Home Journal” was published for the first time. In 1884, the Washington Monument was completed. In 1889, Jefferson Davis, the first and only president of the Confederate States of America, died in New Orleans. In 1923, President Calvin Coolidge became the first president to give a presidential address that was broadcast on radio. In 1947, Everglades National Park in Florida was dedicated by President Harry Truman. In 1961, Syracuse running back Ernie Davis became the first Black player to win the Heisman Trophy—college football’s top individual award. In 1973, Gerald R. Ford was sworn in as the vice-president of the United States after vice-president Spiro Agnew resigned. In 1990, Vice President Dan Quayle was enshrined in the Little League Museum’s Hall of Excellence. In 1998, astronauts aboard the space shuttle Endeavour connected the first two building blocks of the international space station in the shuttle cargo bay.
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