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February 6th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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DB Focus
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Steady as It Goes
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Cash balance plans have benefits but require monitoring and foresight. 
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| Market Mirror |
Wednesday, the Dow gained 483.22 points (1.68%), finishing at 29,290.85. The NASDAQ increased 40.71 points (0.43%) to 9,508.68, and the S&P 500 gained 37.10 points (1.13%) to finish at 3,334.69. The Russell 2000 closed 25.15 points (1.52%) higher at 1,681.92, and the Wilshire 5000 increased 314.17 points (0.93%) to 33,923.85.
The price of the 10-year Treasury note fell 27/32, bringing its yield up to 1.658%. The price of the 30-year Treasury bond fell 13/32, increasing its yield to 2.140%.
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ON THIS DATE: In 1788, Massachusetts became the sixth state to ratify the U.S. Constitution. In 1911, the first old-age home for pioneers opened in Prescott, Arizona. In 1933, the 20th Amendment to the Constitution was declared in effect. The amendment moved the start of presidential, vice-presidential and congressional terms from March to January. In 1937, John Steinbeck’s novella “Of Mice and Men,” the story of the bond between two migrant workers, was published. In 1952, Britain’s King George VI died. His daughter, Elizabeth II, succeeded him. In 1971, NASA Astronaut Alan B. Shepard used a six-iron that he had brought inside his spacecraft and swung at three golf balls on the surface of the moon. In 1987, President Ronald Reagan turned 76 and became the oldest U.S. President in history. In 1993, tennis champion Arthur Ashe, the only African-American man to win Wimbledon and the U.S. and Australian Opens, died of complications from AIDS, at age 49 in New York City. In 1998, Washington National Airport was renamed for President Ronald Reagan with the signing of a bill by President Bill Clinton.
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