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February 19th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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Deals and People
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Franklin Templeton Acquires Legg Mason
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The combined platform creates a strong separately managed account business, and the company plans to expand its multi-asset solutions.
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Market Mirror |
Tuesday, the Dow lost 165.89 points (0.56%) to finish at 29,232.19, the NASDAQ inched up 1.57 points (0.02%) to 9,732.74, and the S&P 500 decreased 9.87 points (0.29%) to 3,370.29. The Russell 2000 was down 4.06 points (0.24%) at 1,683.52, and the Wilshire 5000 closed 65.11 points (0.19%) lower at 34,363.22.
The price of the 10-year Treasury note was up 3/32, decreasing its yield to 1.559%. The price of the 30-year Treasury bond increased 7/32, bringing its yield down to 2.013%.
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ON THIS DATE: In 1807, Aaron Burr, a former U.S. vice president, was arrested in Alabama on charges of plotting to annex Spanish territory in Louisiana and Mexico to be used toward the establishment of an independent republic. In 1847, the first rescuers reached surviving members of the Donner Party, a group of California-bound emigrants stranded by snow in the Sierra Nevada Mountains. In 1878, Thomas Alva Edison patented a music player (the phonograph). In 1942, President Franklin Roosevelt signed an executive order giving the military the authority to relocate and intern Japanese-Americans. In 1945, during World War II, about 30,000 U.S. Marines landed on Iwo Jima. In 2004, former Enron Corp. chief executive Jeffrey Skilling was charged with fraud, insider trading and other crimes in connection with the energy trader’s collapse. In 2005, the USS Jimmy Carter was commissioned at Groton, Connecticut. It was the last of the Seawolf class of attack submarines.
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WEDNESDAY WISDOM: “It is the mark of an educated mind to be able to entertain a thought without accepting it.”–Aristotle
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