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January 14th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
The Producer Price Index for final demand increased 0.2% in December, as prices for final demand services advanced 0.5% and the index for final demand goods decreased 0.4, the Bureau of Labor Statistics reported. Final demand prices rose 9.7% in 2021.
Interest on a 30-year fixed-rate mortgage (FRM) averaged 3.45% for the week ending January 13, up from last week when it averaged 3.22%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.79%. Interest on a 15-year FRM averaged 2.62%, up from last week when it averaged 2.43%. A year ago at this time, the 15-year FRM averaged 2.23%.
In the week ending January 8, the advance figure for seasonally adjusted initial claims for unemployment insurance was 230,000, an increase of 23,000 from the previous week’s unrevised level of 207,000, the Labor Department reported. The four-week moving average was 210,750, an increase of 6,250 from the previous week’s unrevised average of 204,500.
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| Market Mirror |
Thursday, the Dow was down 176.70 points (0.49%) at 36,113.62, the Nasdaq fell 381.58 points (2.51%) to 14,806.81, and the S&P 500 closed 67.32 points (1.42%) lower at 4,659.03. The Russell 2000 decreased 16.62 points (0.76%) to 2,159.44, and the Wilshire 5000 lost 727.42 points (1.52%) to finish at 47,079.63.
The price of the 10-year Treasury note increased 26/32, bringing its yield down to 1.699%. The price of the 30-year Treasury bond climbed 1 1/32, decreasing its yield to 2.038%.
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Products
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Investment Product and Service Launches
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Vanguard expands Target Retirement lineup for youngest investors; LGIM America launches five mutual funds; State Street Global Advisors enhances ESG portfolio construction; and more. 
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ON THIS DATE: In 1639, in Hartford, Connecticut, the first constitution in the American colonies, the “Fundamental Orders,” was adopted by representatives of Wethersfield, Windsor, and Hartford. In 1784, the Continental Congress ratified the Treaty of Paris, ending the American Revolution. In 1951, the first National Football League (NFL) Pro Bowl All-Star Game was played in Los Angeles. In 1952, NBC’s “Today” show premiered. In 1954, the Hudson Motor Car Company merged with Nash-Kelvinator. The new company was called the American Motors Corporation. In 1973, the Miami Dolphins won Super Bowl VII to cap the NFL’s only perfect season. In 1994, U.S. President Bill Clinton and Russian President Boris Yeltsin signed Kremlin accords to stop aiming missiles at any nation and to dismantle the nuclear arsenal of Ukraine. In 1999, the impeachment trial of President Bill Clinton began. In 2004, in St. Louis, a Lewis and Clark Exhibition opened at the Missouri History Museum. The exhibit featured 500 rare and priceless objects used by the Corps of Discovery. In 2005, a probe, from the Cassini-Huygens mission, sent back pictures during and after landing on Saturn’s moon Titan.
And now it’s time for some FRIDAY FUN!
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I think this kid wants Mexican food.
Robin Williams’ version of how golf was invented.
In Westbrook, Maine, a giant spinning ice disk has returned to the Presumpscot River. According to UPI, residents said it first formed in the river in 2019 and returned this week. However, it was frozen in place as of Wednesday.
In Auckland, New Zealand, a man went swimming and later felt a sensation of blockage in his ear. Thinking it was water, he put some drops in it before going to bed that day, but when he woke the next day, it still felt blocked. He went to a doctor who advised him to try using a hairdryer to dry up the water, according to UPI. When the feeling didn’t go away, he went to see an ear, nose and throat specialist. When she looked in his ear, she found…. A LIVE COCKROACH!
In New Haven, Connecticut, a Yale University professor took her “Psychology and the Good Life” class online in March 2018. She made it free via Coursera under the title “Science of Well-Being.” Thanks to the coronavirus pandemic, according to UPI, enrollment has spiked to 3,000% of what it was in 2019.
Have a great weekend, everyone! NewsDash will be back in your inbox Tuesday.
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