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| Market Mirror | |
U.S. stocks fell for a second day on Tuesday following a wave of selling abroad on fears that a slump in commodity prices was far from over, according to the Associated Press. The Dow fell 162.51 points (0.92%) to 17,568.00, the NASDAQ was down 3.57 points (0.07%) at 5,098.24, and the S&P 500 closed 13.48 points (0.65%) lower at 2,063.59. The Russell 2000 decreased 4.90 points (0.42%) to 1,159.39, and the Wilshire 5000 lost 137.05 points (0.64%) to finish at 21,192.95. On the NYSE, 3.2 billion shares traded, with a 2 to 1 lead for decliners. On the NASDAQ, 2.7 billion shares changed hands, with 1.4 declining issues for every advancing issue. The price of the 10-year Treasury note and the price of the 30-year Treasury bond were each down 3/32, increasing their yields to 2.231% and 2.962%, respectively. | |
| Sponsored message from BlackRock | |
| Multi-Manager Fixed Income: The Way Forward? Interest rates are not the only challenge facing bond funds. Can a multi-manager approach better position DC plans To navigate the uncertain fixed income environment?Read more > | |
| Compliance | |
| IRS Compliance Priorities in 2016 Similar to 2015 | |
| The main areas of examination remain commonly occurring Form 5500 Series return errors and several other broad categories of recurring errors found across 401(k), 403(b), very large plans, and multiemployer plans, the Internal Revenue Service (IRS) said in a webcast.Read more > | |
| Investing | |
| High Hopes for Equities in 2016, Despite Volatility | |
| Compiling the projections of some 660 large institutional investors, Natixis finds high hopes for equities across the board—although certain asset classes are expected to perform better, potentially much better, than others. For example, the survey finds a pretty strong consensus that global stocks will outperform both U.S. and emerging markets equities.Read more > | |
| Stable Value Could Replace Money Market in DC Plans | |
| The vast majority (82%) of defined contribution (DC) plan sponsors who are familiar with the U.S. Securities and Exchange Commission’s (SEC) amendments to the rules governing money market funds (MMFs) feel that stable value is a more attractive capital preservation option for plan participants, according to MetLife’s 2015 Stable Value Study. Despite recognizing stable value as a more attractive capital preservation option, the study found there is a need for better communication about the strong performance of stable value.Read more > | |
| Small Talk | |
| “True Loves” Get a Break This Christmas | |
| “True loves” who follow all the steps of the song “The Twelve Days of Christmas” will only see a slight bump in cost from 2014. Reflecting a steep decline in energy costs, lower inflation and slow-but-steady economic growth, the 2015 PNC Christmas Price Index (PNC CPI) experienced its lowest growth rate in six years at 0.6% in the whimsical economic analysis by PNC Wealth Management. According to the 32nd annual report which measures the cost of the gifts in the song, the price tag for the PNC CPI is $34,130.99 in 2015, a mere $198 more than last year’s cost.Read more > | |
ON THIS DATE: In 1793, “The American Minerva” was published for the first time. It was the first daily newspaper in New York City and was founded by Noah Webster. In 1803, the 12th Amendment to the U.S. Constitution was passed by the U.S. Congress. With the amendment Electors were directed to vote for a President and for a Vice-President rather than for two choices for President. In 1884, Levant M. Richardson received a patent for the ball-bearing roller skate. In 1907, Christmas Seals went on sale for the first time, in the Wilmington, Delaware, post office. In 1955, Sugar Ray Robinson knocked out Carl Olson and regained his world middleweight boxing title. In 1960, Sperry Rand Corporation unveiled a new computer known as “Univac 1107.” In 2002, United Airlines filed for Chapter 11 bankruptcy after losing $4 billion in the previous two years. It was the sixth largest bankruptcy filing.
WEDNESDAY WISDOM: “It’s not that I’m so smart, it’s just that I stay with problems longer.”—Albert Einstein | |
| Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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