|
January 16th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
The Producer Price Index for final demand fell 0.1% in December, seasonally adjusted, the Bureau of Labor Statistics reported. Final demand prices moved down 0.1% in November and 0.4% in October. On an unadjusted basis, the index for final demand rose 1.0% in 2023 after increasing 6.4% in 2022.
Wednesday, the Census Bureau will report U.S. retail sales for December and U.S. total business end-of-month inventories. Thursday, the Department of Labor will report initial jobless claims, the Bureau of Labor will report the Consumer Price Index for December, Freddie Mac will update average mortgage rates for the week and the Census Bureau will report new housing starts for December. Friday, the National Association of Realtors will report existing home sales for December.
|
|
|
|
| MARKET MIRROR |
Friday, the Dow fell 118.04 points (0.31%) to close at 37,592.98, the Nasdaq rose 2.58 points (0.02%) to close at 14,972.76 and the S&P 500 rose 3.59 points (0.08%) to close at 4,783.83. The Russell 2000 fell 4.49 points (0.23%) to close at 1,950.96, and the FT Wilshire 5000 Index rose 17.73 points (0.037%) to close at 48,240.14.
The 10-year Treasury note rose 2/32, bringing the yield to 3.944%. The 30-year Treasury bond fell 1/32, bringing the yield to 4.177%.
For the week ending January 12, the Dow rose 0.34%, the Nasdaq rose 3.09% and the S&P 500 rose 1.84%. The Russell 2000 fell 0.01%, and the FT Wilshire 5000 Index ended 1.69% lower.
|
|
|
|
|
|
DEALS AND PEOPLE
|
|
Retirement Industry People Moves
|
NFP names Greene president of benefits unit; CFP Board appoints Boersen as chair; Carter joins Sanctuary Wealth; and more. 
|
|
|
|
|
|
|
ON THIS DATE: In 1861, the Crittenden Compromise failed in the U.S. Senate. Proposed by Senator John J. Crittenden of Kentucky, critically the compromise was a series of constitutional amendments’ facilitating the continuation of slavery as the amendments would have continued the impracticable Missouri Compromise provisions of 1820, which divided the West along lines of latitude. In 1883, the Pendleton Civil Service Act, a bill sponsored by Senator George H. Pendleton of Ohio, established the Civil Service Commission in the U.S. In 1970, Muammar al-Qaddafi, a young Libyan army captain who deposed King Idris in September 1969, was proclaimed premier of Libya by the so-called General People’s Congress. In 1973, the last episode of television series “Bonanza” aired on NBC, as the popular western ended after 14 seasons. In 1991, the Persian Gulf War, triggered by Iraq’s occupation of Kuwait in August 1990, began with a U.S.-led air offensive against Iraq that continued until a cease-fire was declared on February 28. In 1992, a civil war in El Salvador ended as the government and the Farabundo Martí National Liberation Front signed the Chapultepec Peace Accords in Mexico City. In 2006, Ellen Johnson Sirleaf, the first woman to be elected head of state of an African country, was sworn in as president of Liberia. In 2017, astronaut Eugene Cernan, the last person to walk on the Moon, died at age 82. In 2021, record producer Phil Spector, who scored a number of hits with his unique take on pop music but who was later convicted of second-degree murder, died at age 80.
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
Copyright ©2026 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
|
|
702 King Farm Boulevard, Suite 300, Rockville, MD 20850
|
|
|
