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January 15th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
In December, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% on a seasonally adjusted (SA) basis; rising 2.3% over the last 12 months, not seasonally adjusted (NSA), according to the Bureau of Labor Statistics. The index for all items less food and energy rose 0.1% in December, SA; up 2.3% over the year, NSA.
Real average hourly earnings decreased 0.1% over the month in December, SA. Average hourly earnings increased 0.1% and CPI-U increased 0.2%. Real average weekly earnings decreased 0.1% over the month.
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| Market Mirror |
Tuesday, the Dow was up 32.62 points (0.11%) at 28,939.67, the NASDAQ closed 22.60 points (0.24%) lower at 9,251.33, and the S&P 500 decreased 4.98 points (0.15%) to 3,283.15. The Russell 2000 increased 6.14 points (0.37%) to 1,675.74, and the Wilshire 5000 was down 17.18 points (0.05%) at 33,469.91.
The price of the 10-year Treasury note was up 3/32, decreasing its yield to 1.815%. The price of the 30-year Treasury bond increased 28/32, bringing its yield down to 2.276%.
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Compliance
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First Facilitated Merger of Multiemployer Plans Approved by PBGC
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Under the Multiemployer Pension Reform Act, if one or more of the plans in the merger is in critical and declining status and appears to become insolvent within 20 years, the agency can provide financial assistance for the merged plan(s) to remain solvent. 
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In two surveys, American workers say talking politics at work is more common, and 42% of respondents in one survey say they have experienced political disagreements in the workplace.
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ON THIS DATE: In 1777, the people of New Connecticut (now the state of Vermont) declared their independence. In 1844, the University of Notre Dame received its charter from the state of Indiana. In 1870, a cartoon by Thomas Nast which appeared in “Harper’s Weekly” used a donkey to symbolize the Democratic Party for the first time. In 1908, Alpha Kappa Alpha Sorority became America’s first Greek-letter organization established by African-American college women. In 1936, the first, all glass, windowless building was completed in Toledo, Ohio. The building was the new home of the Owens-Illinois Glass Company Laboratory. In 1943, in Arlington, Virginia, the Pentagon was dedicated as the world’s largest office building. The structure covers 34 acres of land and has 17 miles of corridors. In 1967, the first National Football League Super Bowl was played. The Green Bay Packers defeated the Kansas City Chiefs 35-10. In 1973, President Richard Nixon announced the suspension of all U.S. offensive action in North Vietnam. He cited progress in peace negotiations as the reason. In 1974, “Happy Days” premiered on ABC-TV. In 1986, President Ronald Reagan signed legislation making Martin Luther King, Jr.’s birthday a national holiday to be celebrated on the third Monday of January. In 2001, Wikipedia was launched.
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WEDNESDAY WISDOM: “What would be left of our tragedies if an insect were to present us his?”—Emil Cioran, Romanian philosopher and essayist
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