| | Economic Events | | November 2017 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $492.4 billion, up 1.5% from the revised October level and up 9.8% from the November 2016 level, the Census Bureau reported. The September 2017 to October 2017 percent change was revised from the preliminary estimate of up 0.7% to up 0.8%. | | | Market Mirror | Wednesday, the Dow was down 16.67 points (0.07%) at 25,369.13, the NASDAQ lost 10.01 points (0.14%) to finish at 7,153.57, and the S&P 500 decreased 3.06 points (0.11%) to 2,748.23. The Russell 2000 was virtually unchanged at 1,559.80, and the Wilshire 5000 closed 36.87 points (0.13%) lower at 28,507.08. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.554%. The price of the 30-year Treasury bond was unchanged, with its yield at 2.900%. | | | Investing | | Economies of Scale Strongly Benefit the Largest Plans | | Callan 2017 Investment Management Fee Survey finds a 15% decrease in use of performance-based fees among investment managers since 2014. The median fee charged for investment management, according to Callan researchers, is 38 basis points. However, fees vary by investor type, asset class and investor size.Read more > | | Incorporation of ESG Factors Into Institutional Investor Decisions Leveled Off | | Adoption rates of environmental, social, and governance (ESG) factors into the investment decision-making process among institutional investors has leveled off, according to the Callan 2017 ESG survey. Overall incorporation of ESG factors into investment decision-making plateaued at 37% of respondents in 2017, on par with 2016. Callan says this is partly due to multiple years of investor education around ESG coming to fruition.Read more > | | | Small Talk | | ON THIS DATE: In 1805, the Michigan Territory was created. In 1861, Alabama seceded from the United States. In 1902, “Popular Mechanics” magazine was published for the first time. In 1913, the first sedan-type car was unveiled at the National Automobile Show in New York City. The car was manufactured by the Hudson Motor Company. In 1922, at Toronto General Hospital, Leonard Thompson became the first person to be successfully treated with insulin. In 1935, Amelia Earhart Putnam became the first woman to fly solo from Hawaii to California. In 1938, in Limerick, Maine, Frances Moulton assumed her duties as the first woman bank president. In 1943, the United States and Britain signed treaties relinquishing extraterritorial rights in China. In 1973, owners of American League baseball teams voted to adopt the designated-hitter rule on a trial basis. In 1980, Nigel Short, age 14, from Bolton in Britain, became the youngest International Master in the history of chess. In 2000, the U.S. Postal Service unveiled the second Vietnam Veterans Memorial commemorative stamp in a ceremony at The Wall. In 2001, the U.S. Federal Trade Commission approved the merger of America Online and Time Warner to form AOL Time Warner. | | SURVEY SAYS: We covered a survey which found if an emergency pet expense were to present itself, more than one-third (37%) of respondents said they would sacrifice contributions to their retirement account to pay for it. This week, I’d like to know, do you own a pet, and what would you sacrifice to pay for an emergency pet expense? You may respond to this week’s survey by 6 p.m. Pacific time today.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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