|
| Economic Events |
| The U.S. Census Bureau announced that December 2015 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $440.0 billion, down 0.3% from the revised November level and down 4.5% from the December 2014 level. December sales of durable goods were up 0.3% from November, but were down 3.0% from a year ago. Sales of motor vehicle and motor vehicle parts and supplies were up 2.5% from November, while sales of electrical and electronic goods were down 1.9%. Sales of nondurable goods were down 0.9% from November and were down 5.9% from last December. Sales of petroleum and petroleum products were down 4.5% from November. |
|
| Market Mirror |
Tuesday, the Dow slipped 12.67 points (0.08%) to 16,014.38, the NASDAQ fell 14.99 points (0.35%) to 4,268.76, and the S&P 500 decreased by 1.21 (0.07%) to 1,852.23. The Russell 2000 lost 5.44 points (0.56%) to finish at 963.89, and the Wilshire 5000 closed 28.37 points (0.15%) lower at 18,852.51.
On the NYSE, 3.1 billion shares changed hands, with declining issues outnumbering advancing issues more than 2 to 1. On the NASDAQ, 2.7 billion shares traded, with a near 2 to 1 lead for decliners.
The price of the 10-year Treasury note was up 6/32, decreasing its yield to 1.729%. The price of the 30-year Treasury bond increased 20/32, bringing its yield down to 2.549%. |
|
| Compliance |
| Budget Proposal Has Serious MEP Focus |
| The newly emerged text of President Obama’s 2017 budget proposal includes hundreds of millions of dollars in proposed funding over the next decade to encourage wider use of multiple employer plans.Read more > |
| Company Seeking ‘Young Blood’ Charged with Age Bias |
| Many employees now plan to work later to be retirement ready, but lawsuits filed by the EEOC indicate that may be hard for some due to bias.Read more > |
| Industry Groups Concerned with Some Budget Initiatives |
| While initiatives to expand retirement access get support from industry groups, the Department of Labor’s (DOL’s) conflict of interest rule, encouragement of state-run retirement plans for private-sector employees and proposed changes to the Affordable Care Act’s (ACA’s) Cadillac tax do not.Read more > |
|
| Investing |
| Managing DC Bond Investments When Interest Rates Rise |
| With interest rates expected to rise, should defined contribution (DC) retirement plan sponsors make changes to bond investment choices?Read more > |
|
| Small Talk |
| Overall, romantics can expect to spend about the same to express their affections on Valentine’s Day this year, according to the 2016 Cost of Loving Index by Houston Asset Management. The annual index tracks the cost of nine popular Valentine’s Day gift items, and this year only two items on the index increased in price.Read more > |
ON THIS DATE: In 1763, the Treaty of Paris ended the French and Indian War. In the treaty, France ceded Canada to England. In 1863, the fire extinguisher was patented by Alanson Crane. In 1870, the YWCA was founded in New York City. In 1933, the singing telegram was introduced by the Postal Telegraph Company of New York City. In 1967, the 25th Amendment to the U.S. Constitution was ratified. The amendment required the appointment of a vice president when that office became vacant and instituted new measures in the event of presidential disability. In 2005, North Korea publicly announced for the first time that it had nuclear arms. The country also rejected attempts to restart disarmament talks in the near future, saying that it needed the weapons as protection against an increasingly hostile United States.
WEDNESDAY WISDOM: “Our patience will achieve more than our force.”—Edmund Burke, member of England’s Parliament from 1765 to 1794 |
| Share the good news with a friend! Pass the NewsDash along – and tell your friends/associates they can sign up for their own copy.Read more > |