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February 27th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Sales of new single‐family houses in January 2024 were at a seasonally adjusted annual rate of 661,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.5% above the revised December rate of 651,000 and is 1.8% above the January 2023 estimate of 649,000.
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| MARKET MIRROR |
Monday, the Dow fell 62.30 points (0.16%) to close at 39,069.23, the Nasdaq fell 20.57 points (0.13%) to close at 15,976.25 and the S&P 500 fell 19.27 points (0.38%) to close at 5,069.53. The Russell 2000 rose 12.28 points (0.61%) to close at 2,028.97, and the FT Wilshire 5000 Index lost 144.05 points (0.28%) to close at 51,010.33.
The 10-year Treasury note decreased 2/32, bringing the yield to 4.279%. The 30-year Treasury bond decreased 4/32, bringing the yield to 4.395%.
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Investments
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Demographic Shifts
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Sponsors seek a mix of TDF products to meet individuals’ needs. 
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EVENTS
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PLANSPONSOR Roadmap: Financial Wellness
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Join us March 7 for insights and ideas to develop or update financial wellness programs for employees. You’ll hear from plan sponsors, advisers and other industry experts about successful financial wellness strategies, and you’ll come away with resources and checklists to guide you on your own journey of implementing important benefits.
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ON THIS DATE: In 1776, at the Battle of Moore’s Creek Bridge, North Carolinian revolutionaries defeated loyalists during the American Revolution. In 1807, poet Henry Wadsworth Longfellow was born. In 1886, lawyer, politician and Supreme Court justice Hugo Black was born. In 1902, novelist John Steinbeck—author of “The Grapes of Wrath,” which summed up the bitterness of the Great Depression decade and aroused widespread sympathy for the plight of migratory farmworkers—was born. In 1932, actress Elizabeth Taylor was born. In 1933, in Berlin, the Reichstag (parliament) building caught fire, a key event in the establishment of Nazi dictatorship. In 1951, the 22nd Amendment to the U.S. Constitution, which effectively limited to two the number of terms a U.S. president may serve, was ratified. In 1967, Saint Kitts and Nevis (with Anguilla) became an independent state associated with the U.K; Anguilla formally seceded in 1980 to remain a British territory on its own. In 1968, during a news broadcast, journalist Walter Cronkite broke from his usual objectivity to predict that the Vietnam War could end only in a protracted stalemate; his commentary was credited with changing the U.S. public’s opinion of the conflict. In 1973, two hundred members of the American Indian Movement forcefully took the reservation hamlet of Wounded Knee, South Dakota. In 1991, President George H.W. Bush ordered a cease-fire effective and declared victory in the Persian Gulf War, a conflict triggered by Iraq’s invasion and occupation of Kuwait in August 1990. In 2008, editor and author William F. Buckley, Jr. died at age 82. In 2010, a magnitude 8.8 earthquake struck Chile, causing widespread damage and triggering a tsunami that devastated coastal areas. In 2015, actor Leonard Nimoy died at age 83.
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