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December 6th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
In the week ending November 30, the advance figure for seasonally adjusted initial claims was 224,000, an increase of 9,000 from the previous week’s revised level of 215,000, the Department of Labor reported. The four-week moving average was 218,250, an increase of 750 from the previous week’s revised average of 217,500.\
Interest on a 30-year fixed-rate mortgage averaged 6.69% for the week ending December 5, down from last week when it averaged 6.81%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 7.03%. Interest on a 15-year fixed-rate mortgage averaged 5.96%, down from last week when it averaged 6.10%. A year ago at this time, the 15-year FRM averaged 6.29%
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| MARKET MIRROR |
Thursday, the Dow fell 248.33 points (0.55%) to close at 44,765.71, the Nasdaq fell 34.86 points (0.18%) to close at 19,700.26 and the S&P 500 fell 11.38 points (0.19%) to close at 6,075.11. The Russell 2000 fell 30.39 points (1.25%) to close at 2,396.17, and the FT Wilshire 5000 Index fell 185.84 points (0.30%) to close at 61,236.04.
The 10-year Treasury note was unchanged, bringing the yield to 4.180%. The 30-year Treasury bond increased 2/32, bringing the yield to 4.334%.
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PRODUCTS
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Product & Service Launches
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Fiduciary In A Box and Homa Health launch AI-powered ERISA contract review tool; Wespath debuts fossil-fuel-free funds for institutional investors; Payroll Integrations automates SECURE 2.0 compliance; and more. 
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ON THIS DATE: In 1907, an explosion in a coal mine in Monongah, West Virginia, killed more than 350 people, many of them young boys. In 1912, a bust of Nefertiti was discovered during excavations at Tell el-Amarna, Egypt; the sculpture later went on display in a Berlin museum, and it became a source of controversy as an alleged plundered artifact. In 1917, Finland declared itself independent of Russia, following the Bolshevik Revolution. In 1921, the British government and Irish leaders Arthur Griffith, Michael Collins and others signed the Anglo-Irish Treaty, establishing the Irish Free State as an independent member of the British Commonwealth. In 1933, in what was considered a landmark ruling, a U.S. federal judge held that James Joyce’s Ulysses was not obscene, thus allowing for greater freedoms in literary works. 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 vice president of the U.S., succeeding Spiro T. Agnew, who had resigned. In 1992, the Babri Masjid in Ayodhya, India was destroyed by Hindu fundamentalists, leading to Hindu-Muslim riots throughout the country. In 2006, NASA released images—taken by the Mars Global Surveyor—that indicated the relatively recent presence of water on Mars.
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