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January 12th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
In December, the Consumer Price Index for All Urban Consumers increased 0.3%, seasonally adjusted, and rose 3.4% over the last 12 months, not seasonally adjusted, the Bureau of Labor Statistics reported. The index for all items less food and energy increased 0.3% in December; up 3.9% over the year.
In the week ending January 6, the advance figure for seasonally adjusted initial claims was 202,000, a decrease of 1,000 from the previous week’s revised level of 203,000, the Department of Labor reported. The four-week moving average was 207,750, a decrease of 250 from the previous week’s revised average of 208,000.
Interest on a 30-year fixed-rate mortgage averaged 6.66% for the week ending January 11, up from last week when it averaged 6.62%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 6.33%. Interest on a 15-year fixed-rate mortgage averaged 5.87%, down from last week when it averaged 5.89%. A year ago at this time, the 15-year FRM averaged 5.52%.
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| MARKET MIRROR |
Thursday, the Dow rose 15.29 points (0.04%) to close at 37,711.02, the Nasdaq rose 0.54 points (0.00%) to close at 14,970.19 and the S&P 500 fell 3.21 points (0.07%) to close at 4,780.24. The Russell 2000 lost 14.80 points (0.75%) to close at 1,955.46, and the FT Wilshire 5000 Index lost 59.38 points (0.12%) to close at 48,222.42.
The 10-year Treasury note increased 27/32, bringing the yield to 3.972%. The 30-year Treasury bond increased 6/32, bringing the yield to 4.174%.
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SPECIAL COVERAGE
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Plan Benchmarking
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By benchmarking their plans across an array of factors, plan sponsors can gain insights about participants and juggle spending to best align with employee needs, company budgets and fiduciary duties. 
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ON THIS DATE: In 1876, novelist Jack London, author of “The Call of the Wild” and “White Fang,” was born in San Francisco. In 1932, Hattie Ophelia Caraway, who represented Arkansas, became the first woman elected to the U.S. Senate. In 1951, the late radio personality and author Rush Limbaugh, known for his conservative and often controversial opinions, was born. In 1964, entrepreneur Jeff Bezos, who played a key role in the growth of e-commerce as the founder of Amazon.com, was born in Albuquerque, New Mexico. In 1969, football quarterback Joe Namath, having “guaranteed victory,” led the New York Jets to a 16-7 win over favored Baltimore Colts in Super Bowl III. In 1971, the television series “All in the Family” debuted on CBS; the sitcom became known for its frank and satirical treatment of sensitive or important topics. In 2005, the U.S. space probe Deep Impact was launched, and in July it shot an 810-pound mass into the nucleus of the comet Tempel 1 in order to study its cometary structure. In 2010, a magnitude 7.0 earthquake devastated Haiti, especially Port-au-Prince, the capital, killing more than 200,000 people, leaving more than 1 million homeless and touching off a massive international relief effort.
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