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| Economic Events | |
| THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about new home sales for January. Tomorrow, the Census Bureau will report about durable goods orders for January, and the Conference Board will release its Consumer Confidence Index for February. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about construction spending for January. | |
| Market Mirror | |
Friday, the Dow increased 347.51 points (1.39%) to 25,309.99, the NASDAQ climbed 127.30 points (1.77%) to 7,337.39, and the S&P 500 gained 43.34 points (1.60%) to finish at 2,747.30. The Russell 2000 was up 19.20 points (1.25%) at 1,549.19, and the Wilshire 5000 closed 429.80 points (1.54%) higher at 28,410.10.
The price of the 10-year Treasury note increased 14/32, bringing its yield down to 2.870%. The price of the 30-year Treasury bond climbed 29/32, decreasing its yield to 3.158%. WEEK’S WORTH: For the week ending February 23, the Dow increased 0.36%, the NASDAQ climbed 1.35%, and the S&P 500 gained 0.55%. The Russell 2000 finished 0.37% higher, and the Wilshire 5000 was up 0.26%. | |
| Compliance | |
| IRI Calls on Congress to Pass Mandatory 401(k) Legislation | |
| The Insured Retirement Institute (IRI) has issued a Retirement Security Blueprint, meant to guide the group’s dialogue with Congress and the Administration about improving Americans’ retirement outlook. “The Blueprint was constructed on the pillars of expanding opportunities to save, increasing access to lifetime income in retirement, helping savers make decisions about their finances for their retirement and protecting older investors from financial exploitation,” says IRI Senior Vice President and General Counsel Lee Covington. “We look forward to presenting and discussing these proposals with members of Congress, the Administration and state regulators.”Read more > | |
| From the Magazine | |
| Can a nonqualified deferred compensation plan fill the savings gap for your highly compensated employees?Read more > | |
| Small Talk | |
| ON THIS DATE: In 1870, in New York City, the first pneumatic-powered subway line was opened to the public. In 1919, in Arizona, the Grand Canyon was established as a National Park with an act of the U.S. Congress. In 1929, U.S. President Coolidge signed a bill creating the Grand Teton National Park. In 1930, New York City installed traffic lights. In 1952, British Prime Minister Winston Churchill announced that Britain had developed an atomic bomb. In 1993, six people were killed and more than one thousand injured when a van exploded in the parking garage beneath the World Trade Center in New York City. The bomb had been built by Islamic extremists. In 2009, the Pentagon reversed its 18-year policy of not allowing media to cover returning war dead. The reversal allowed some media coverage with family approval. | |
| SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Did your take-home pay increase as a result of tax reform, and if so, how do you plan to use it?” Nearly all (93.3%) of responding readers reported their take-home pay increased as a result of tax reform, while 6.7% said it did not. The top responses for how they will use that extra money was to save more in retirement accounts and put it away for emergency savings, at 27.3% each. This was followed by 20.4% who said they would just keep the money in checking to help pay day-to-day expenses. In comments left by readers, most express concern either about having to pay more in taxes or have a lower tax refund next year, or having to eventually pay to address the increased budget deficit. A couple of readers expressed that it was a nice surprise and one shared how much he or she bumped up his/her retirement savings. No Editor’s Choice this week. A big thank you to all who participated in the survey!Read more > | |
| Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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