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February 24th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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SPONSORED BY: MassMutual
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Patching financial potholes
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Providing employees with a means to prepare for emergencies is a positive step towards financial security. Learn what you can do to improve financial wellness for your employees starting at the workplace. 
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| Economic Events |
Existing-home sales declined in January, continuing a fluctuating pattern of monthly increases and declines, according to the National Association of Realtors. Significant declines in the West region dragged down nationwide numbers, with the other three major U.S. regions reporting marginal—or no—changes last month. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 1.3% from December to a seasonally-adjusted annual rate of 5.46 million in January. However, for the second straight month, overall sales substantially increased year-over-year, up 9.6% from a year ago (4.98 million in January 2019).
Tomorrow, the Conference Board will release its Consumer Confidence Index for February. Wednesday, the Census Bureau will report about new home sales for January. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about durable goods orders for January.
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| Market Mirror |
Friday, the Dow lost 227.57 points (0.78%) to finish at 28,992.41, the NASDAQ closed 174.38 points (1.79%) lower at 9,576.59, and the S&P 500 decreased 35.48 points (1.05%) to 3,337.75. The Russell 2000 was down 17.46 points (1.03%) at 1,678.61, and the Wilshire 5000 fell 368.36 points (1.07%) to 34,066.30.
The price of the 10-year Treasury note increased 26/32, bringing its yield down to 1.470%. The price of the 30-year Treasury bond climbed 32/32, decreasing its yield to 1.917%.
For the week ending February 21, the Dow lost 1.38%, the NASDAQ fell 1.59%, and the S&P 500 finished 1.25% lower. The Russell 2000 was down 0.53%, and the Wilshire 5000 decreased 1.05%.
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ON THIS DATE: In 1863, Arizona was organized as a territory. In 1868, the House of Representatives impeached President Andrew Johnson due to his attempt to dismiss Secretary of War Edwin M. Stanton. The Senate later acquitted him. In 1968, the Tet Offensive ended as U.S. and South Vietnamese troops recaptured the ancient capital of Hue from communist forces. In 1981, Buckingham Palace announced the engagement of Britain’s Prince Charles to Lady Diana Spencer. In 1991, the Gulf War ground offensive began.
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