| Economic Events | In the week ending February 7, the
advance figure for seasonally adjusted initial claims for unemployment
insurance was 304,000, an increase of 25,000 from the previous week’s revised
level, the Labor Department reported. The four-week moving average was 289,750,
a decrease of 3,250 from the previous week’s revised average.
The U.S. Census Bureau announced that
the combined value of distributive trade sales and manufacturers’ shipments for
December, adjusted for seasonal and trading-day differences but not for price
changes, was estimated at $1,331.2 billion, down 0.9% from November 2014, but up
0.9% from December 2013.
Advance estimates of U.S. retail and
food services sales for January, adjusted for seasonal variation and holiday
and trading-day differences, but not for price changes, were $439.8 billion, a
decrease of 0.8% from the previous month, but up 3.3% above January 2014. Total
sales for the November 2014 through January 2015 period were up 3.8% from the
same period a year ago. The November to December 2014 percent change was
unrevised from -0.9%.
The average interest rate for a 30-year fixed-rate
mortgage is 3.69%, up from 3.59% one week ago, according to Freddie Mac. The
average interest rate for a 15-year fixed-rate mortgage is 2.99%, up from
2.92%.
| | Market Mirror | Major U.S.
stock indices closed higher as technology, materials and energy companies reported
gains. The Dow was up 110.24 points (0.62%) at 17,972.38, the NASDAQ gained
56.43 points (1.18%) to finish at 4,857.61, and the S&P 500 increased 19.95
points (0.96%) to 2,088.48. The Russell 2000 climbed 14.70 points (1.22%) to
1,216.25, and the Wilshire 5000 closed 215.03 points (0.99%) higher at
22,022.24.
On the NYSE,
3.2 billion shares traded, with advancing issues outnumbering declining issues
more than 3 to 1. On the NASDAQ, 2.7 billion shares changed hands, with a more
than 2 to 1 lead for advancers.
The price of the 10-year Treasury note was unchanged,
with its yield at 1.986%. The price of the 30-year Treasury bond increased
11/32, bringing its yield down to 2.573%.
| | Investing | For Pensions, Active Investing Pays Off | Financial research and benchmarking provider CEM
Benchmarking says its most recent report contains enough data to prove active
investing is worthwhile for pension funds, if executed efficiently and
effectively. As noted in the report, “Value Added by Large Institutional
Investors Between 1992‐2013,” it is a widely held academic and investing
industry belief that active investors have, on average, no real advantage over
passive investors over the long term, and can even see worse performance over
time due to higher fees. This view on investing strategy is rooted in the
efficient market hypothesis, researchers explain.Read more > | | Small Talk | ON
THIS DATE: In 1915,
the American Society of Composers, Authors and Publishers (ASCAP) was founded
to protect the copyrighted musical compositions of its members. In 1920, the League of Nations, the
international organization formed at the peace conference at Versailles in the
wake of World War I, recognized the perpetual neutrality of Switzerland. In 2000, Charles M. Schulz’s last original
Sunday “Peanuts” comic strip appeared in newspapers. Schulz had died
the day before.
And now it’s time for FRIDAY FILES!
| This is what happens when you tell a cat “NO!”Read more > | It looks pretty cool when a train plows through
snow.Read more > | In Ambridge, Pennsylvania,
police used Facebook to find a man wanted on as.sault charges. An hour after
the incident, he posted on Facebook that it was “time to leave PA.” That didn’t
give officers much of a clue, but days later, he made another Facebook post
with a selfie on a Greyhound bus and a message that he was headed to South
Carolina. According to the Associated Press, police arrested him when the bus
stopped in Ohio. The Ambridge police chief said, “We like it when dumb
criminals assist us.”
In Minneapolis, Minnesota,
the Ruff Start Rescue, an animal shelter that partners with the Minneapolis
PetSmart to have its adoptable animals displayed at the store, said a
three-month-old kitten was stolen from the store, and the man accused of taking
the cat was caught on the store’s security cameras. However, according to UPI,
less than 24 hours later, the kitten was found in a box outside of a PetSmart
store in nearby Roseville. A note left with the kitten said, “I didn’t
have money and had planned to give the kitten as a Valentine’s Day gift. I’m
sorry.”
| What is a cat to do when faced with a door of
snow?Read more > | In Belém, Brazil, a
merchant left a grocery store to investigate a commotion across the street. The
commotion was caused by a robbery and the thief opened fire, hitting the
merchant on the left side of her chest. She staggered back into the store and
was quickly taken to get medical attention. It was discovered that the bullet
was stopped by the metal underwire in the merchant’s undergarment. The woman
only reported feeling a burning sensation.
In Wichita Falls, Texas, a
man took cash, including a roll of tightly wound $1 bills, to the
tax office to pay his property tax. Tax officials requested that he unfold the
bills so they could count them, and the man launched into a tirade. According
to Reuters, the man engaged in an anti-government rant where he showed his
anger about paying taxes. He refused to leave the office, and law enforcement
was called and arrested him.
In Tampa, Florida,
Hillsborough County Sheriff’s officials say a couple had been sleeping in a
dumpster outside a convenience store when the dumpster was emptied into the
back of a garbage truck. The couple started screaming and banging on the sides
of the truck. According to the Associated Press, rescue crews were called and
removed the man and woman from the truck. Deputies originally believed they
were homeless, but learned they were highly into.xicated after hanging out at a
nearby casino.
Have a wonderful weekend, everyone! We are closed
Monday, but NewsDash will be back in your inbox Tuesday. | 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 > | News from PLANSPONSOR.com
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