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January 10th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
In the week ending January 4, the advance figure for seasonally adjusted initial claims for unemployment insurance was 214,000, a decrease of 9,000 from the previous week’s revised level of 223,000, the Labor Department reported. The four-week moving average was 224,000, a decrease of 9,500 from the previous week’s revised average of 233,500.
The interest rate for a 30-year fixed-rate mortgage averaged 3.64% for the week ending January 9, down from last week when it averaged 3.72, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 4.45%. The interest rate for a 15-year fixed-rate mortgage averaged 3.07%, down from last week when it averaged 3.16%. A year ago at this time, the 15-year FRM averaged 3.89%.
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| Market Mirror |
Thursday, the Dow climbed 211.81 points (0.74%) to 28,956.90, the NASDAQ closed 74.18 points (0.81%) higher at 9,203.43, and the S&P 500 increased 21.65 points (0.67%) to 3,274.70. The Russell 2000 was up 1.40 points (0.08%) at 1,664.99, and the Wilshire 5000 gained 198.24 points (0.60%) to finish at 33,333,23.
The price of the 10-year Treasury note was up 4/32, decreasing its yield to 1.861%. The price of the 30-year Treasury bond increased 6/32, bringing its yield down to 2.334%.
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Investment Product and Service Launches
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CUNA Mutual adds Stadion managed account service to platform; MSCI creates new fixed income indexes; Transamerica decreases fees on two high yield bonds; and more. 
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ON THIS DATE: In 1776, “Common Sense” by Thomas Paine was published. In 1861, Florida seceded from the United States. In 1870, John D. Rockefeller incorporated Standard Oil. In 1901, a drilling derrick at Spindletop Hill near Beaumont, Texas, produced an enormous gusher of crude oil, signaling the advent of the American oil industry. In 1920, the League of Nations ratified the Treaty of Versailles, officially ending World War I with Germany. In 1946, the first meeting of the United Nations General Assembly took place with 51 nations represented. In 1971, “Masterpiece Theatre” premiered on PBS with host Alistair Cooke. In 1984, the United States and the Vatican established full diplomatic relations for the first time in more than a century. In 1990, Time Inc. and Warner Communications Inc. completed a $14 billion merger. The new company, Time Warner, was the world’s largest entertainment company.
And now it’s time for FRIDAY FILES!
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Instant karma for a package thief.
The Mario Brothers theme like you’ve never heard it before.
In Midland, Michigan, students at Bullock Creek High School set a new world record for the tallest toilet paper pyramid. It took 16 hours and 27,434 rolls to make the 16-feet, 3-inch pyramid. [pic]
In Palm Beach County, Florida, Sheriff’s deputies responded to a call about sounds of a woman in distress. Responding to the scene, they found a man working on a car with his pet parrot Rambo on an outside perch. Apparently, Rambo’s cries of “Let me out! Let me out! Ohhh! Ohhh! Ohhh!” were so lifelike that a neighbor called the police.
Wishing everyone a wonderful weekend!
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