| Economic Events | In the week ending January 12, the advance figure for seasonally adjusted initial claims for unemployment insurance was 213,000, a decrease of 3,000 from the previous week’s unrevised level of 216,000, the Labor Department reported. The four-week moving average was 220,750, a decrease of 1,000 from the previous week’s unrevised average of 221,750. The average interest rate for a 30-year fixed-rate mortgage is 4.45%, unchanged from one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.88%, down from 3.89%. | | Market Mirror | Thursday, the Dow gained 162.94 points (0.67%) to finish at 24,370.10, the NASDAQ closed 49.77 points (0.71%) higher at 7,084.46, and the S&P 500 increased 19.86 points (0.76%) to 2,635.96. The Russell 2000 was up 12.55 points (0.86%) at 1,467.25, and the Wilshire 5000 climbed 206.93 points (0.76%) to 27,266.49. The price of the 10-year Treasury note decreased 8/32, bringing its yield up to 2.752%. The price of the 30-year Treasury bond was down 1/32, increasing its yield to 3.072%. | | Compliance | Details Available About Duke University 403(b) Lawsuits Settlement | A case accusing fiduciaries of the Duke Faculty and Staff Retirement Plan of causing the plan to pay unreasonable and greatly excessive fees for recordkeeping, administrative, and investment services, and a second complaint—this one focusing on revenue sharing it took but didn’t deliver for distribution to plan participants—have been combined for a settlement agreement. The settlement agreement calls for a gross monetary payment of $10.65 million to a settlement fund and other non-monetary actions by Duke University.Read more > | | From the Magazine | Staying Ahead of Inflation | To a homeowner, the No. 1 enemy is water: Even in small quantities, invading rain, snow and ice can degrade timber, crack concrete and erode mortar. Similarly, a retiree’s worst adversary is rising prices. “Inflation is the enemy of defined contribution [DC] investors trying to protect their purchasing power,” says Christine Loughlin, head of the DC practice at NEPC in Boston.Read more > | | Small Talk | ON THIS DATE: In 1778, English navigator Captain James Cook discovered the Hawaiian Islands, which he called the “Sandwich Islands.” In 1896, the x-ray machine was exhibited for the first time. In 1919, the World War I Peace Congress opened in Versailles, France. In 1958, Willie O’Ree made his NHL debut with the Boston Bruins. He was the first black player to enter the league. In 1975, “The Jeffersons” debuted on CBS-TV. In 1991, Eastern Airlines shut down after 62 years in business due to financial problems. In 1993, the Martin Luther King Jr. holiday was observed in all 50 U.S. states for the first time. In 1995, the “yahoo.com” domain was created. And now it’s time for FRIDAY FILES! | People making a mess.Read more > | In Williamson County, Texas, the sheriff has come up with a clever way to slow down speeders—and tests in school zones shows it is working. [pic]Read more > | In Milton, Florida, a man recently threatened to kill his neighbor with “kindness.” But, not in the usual sense. Neighbors went to the suspect’s house, concerned about yelling and banging that had come from the home all day, according to the Pensacola News-Journal. The suspect came out of the house with an arm raised holding a mac.hete, which had the word “kindness” written on it—apparently the name he called the weapon. In Wichita Falls, Texas, a woman has been banned from a local Walmart. Police tell the Times Record News that officers responded to a report of a suspicious person and confronted a woman who had been riding an electric shopping cart around the parking lot for about three hours. The woman was drinking wine from a Pringle’s can. In Kansas City, Missouri, a guy named Dave kindly helped a motorist get unstuck from the snow and back on his way. He did not realize that the man he helped was Kansas City Chiefs offensive lineman Jeff Allen. After a plea on Twitter, Allen found the correct Dave and rewarded him with two AFC Championship tickets. In San Jose, California, the owner of two cats went away to college, and the student’s father was unable to keep them. So, he asked a friend who owns apartments to rent him a kitchen-less studio so he could take care of his daughter’s cats. The father is paying $1,500 per month for the apartment, which the Mercury News reports is a good deal since the average studio apartment in San Jose rents for $1,951 per month. Have a wonderful weekend! | Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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