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February 23rd, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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Cover
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ESG Interest Piqued
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What sponsors may consider in responding to participant demand for these funds. 
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| Economic Events |
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The Conference Board Consumer Confidence Index fell slightly in February, after a decrease in January. The Index now stands at 110.5 (1985=100), down from 111.1 in January. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—improved to 145.1 from 144.5 last month. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—declined to 87.5 from 88.8.
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| Market Mirror |
Yesterday, the Dow lost 482.57 points (1.42%) to finish at 33,596.61, the Nasdaq closed 166.55 points (1.23%) lower at 13,381.52, and the S&P 500 decreased 44.11 points (1.01%) to 4,304.76. The Russell 2000 was down 29.16 points (1.45%) at 1,980.17, and the Wilshire 5000 fell 511.35 points (1.17%) to 43,355.21.
The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.938%. The price of the 30-year Treasury bond was up 2/32, decreasing its yield to 2.236%.
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ON THIS DATE: In 1821, the Philadelphia College of Apothecaries established the first pharmacy college. In 1836, in San Antonio, Texas, the siege of the Alamo began. In 1886, Charles M. Hall completed his invention of aluminum. In 1896, the Tootsie Roll was introduced by Leo Hirshfield. In 1927, the Federal Radio Commission began assigning frequencies, hours of operation and power allocations for radio broadcasters. In 1940, Walt Disney’s animated movie “Pinocchio” was released. In 1954, a group of children from Arsenal Elementary School in Pittsburgh, Pennsylvania, received the first injections of the new polio vaccine developed by Dr. Jonas Salk. In 1963, the 24th Amendment to the U.S. Constitution was ratified. It prohibited poll taxes in federal elections. In 1968, Wilt Chamberlain (Philadelphia 76ers) became the first player to score 25,000 career points in the NBA. In 1980, speed skater Eric Heiden won the 10,000-meter race at the Winter Olympics in Lake Placid, New York, setting a world record with his time and winning an unprecedented fifth gold medal at the games. In 2005, the New York City medical examiner’s office announced that it had exhausted all efforts to identify the remains of the people killed at the World Trade Center on September 11, 2001, due to the limits of DNA technology. About 1,600 people had been identified leaving more than 1,100 unidentified.
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WEDNESDAY WISDOM: “The absence of alternatives clears the mind marvelously.”—Henry Kissinger, former U.S. Secretary of State
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