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January 11th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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ECONOMIC EVENTS |
November 2023 sales of merchant wholesalers were $666.6 billion, virtually unchanged from last month, the Census Bureau reported. End-of-month inventories were $896.2 billion, down 0.2% from last month.
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MARKET MIRROR |
Wednesday, the Dow rose 170.57 points (0.45%) to close at 37,695.73, the Nasdaq rose 111.94 points (0.75%) to close at 14,969.65 and the S&P 500 rose 26.95 points (0.57%) to close at 4,783.45. The Russell 2000 rose points 2.23 points (0.11%) to close at 1,970.26, and the FT Wilshire 5000 Index rose 245.38 points (0.51%) to close at 48,281.80.
The 10-year Treasury note fell 2/32, bringing the yield to 4.034%. The 30-year Treasury bond fell 3/32, bringing the yield to 4.206%.
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ON THIS DATE: In about 1755 or 1757, Alexander Hamilton, the first secretary of the U.S. Treasury, was born in the British West Indies. In 1861, Alabama seceded from the Union, the fourth state to do so in the run-up to the Civil War. In 1878, milk was delivered for the first time in glass bottles in New York City. In 1935, Amelia Earhart, one of the world’s most celebrated aviators, made the first successful solo flight from Hawaii to California, a distance longer than that from the U.S. to Europe. In 1964, U.S. Surgeon General Luther L. Terry announced that cigarette smoking is linked to lung cancer. In 1973, the owners of America’s 24 Major League Baseball teams voted to allow teams in the American League to use a “designated pinch-hitter” who could bat for the pitcher while still allowing the pitcher to stay in the game. In 2001, the U.S. Federal Communications Commission approved the merger of America Online and Time Warner, and AOL Time Warner (later shortened to Time Warner) stock began trading the next morning; the joint company suffered large financial losses, and the two entities split in 2009. In 2008, New Zealand mountain climber and explorer Sir Edmund Hillary—who, with the Tibetan mountaineer Tenzing Norgay, was the first to summit Mount Everest—died at age 88. In 2014, Israeli general and politician Ariel Sharon, who was one of the chief participants in the Arab-Israeli wars in the 1980s and who served as prime minister of Israel, died at age 85, eight years after being incapacitated by a stroke.
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