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February 21st, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Today, the National Association of Realtors will report existing home sales for January. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. Friday, the Census Bureau will report new home sales for February.
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| MARKET MIRROR |
Friday, the Dow increased 129.84 points (0.39%) to close at 33,826.70, the Nasdaq decreased 68.56 points (0.58%) to close at 11,787.27 and the S&P 500 decreased 11.32 points (0.28%) to close at 4,079.09. The Russell 2000 increased 4.14 points (0.21%) to close at 1,946.36 and the Wilshire 5000 decreased 119.10 points (0.29%) to close at 40,819.65.
The price of the 10-year Treasury note increased 3/32, bringing the yield to 3.822%. The price of the 30-year Treasury bond increased 30/32, bringing the yield to 3.871%.
For the week ending February 17, the Dow lost 0.13%, the Nasdaq gained 0.59% and the S&P 500 dropped 0.28%. The Russell 2000 increased 1.44% and the Wilshire 5000 finished 0.07% higher.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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TIAA names Latini to new position as wealth distribution head; DCIIA votes in 2023 committee members; Pentegra appoints two vice presidents; and more. 
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ON THIS DATE: In 1848, The Communist Manifesto, by Karl Marx and Friedrich Engels, was first published. In 1866, Lucy Hobbs Taylor became the first woman to earn a doctorate in dentistry. In 1885, the Washington Monument was dedicated on the grounds of the Mall in Washington, D.C. In 1925, the weekly magazine The New Yorker began publication under Harold W. Ross. In 1933, Eunice Kathleen Waymon, better known as Nina Simone, was born. Simone became a world-renowned pianist, writer and vocalist whose music straddled jazz, blues, R&B, folk and gospel. In 1936, Barbara Jordan, the first African American representative elected to the House of Representatives from Texas, was born. Jordan served in the Texas state legislature from 1962 to 72, the House of Representatives from 1973 to 78 and was later awarded the Presidential Medal of Freedom. In 1948, the National Association for Stock Car Racing—NASCAR—was officially incorporated. In 1965, Malcolm X, who articulated concepts of racial pride and Black nationalism, was assassinated and became an ideological hero after the posthumous release of The Autobiography of Malcolm X, written with journalist Alex Haley. In 1972, President Richard Nixon paid a state visit to the People’s Republic of China, ending a 21-year estrangement between the communist country and the United States. In 1995, businessman and adventurer Steve Fossett became the first person to fly solo across the Pacific Ocean in a balloon.
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