|
January 21st, 2020
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
|
| Economic Events |
Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,608,000, the Census Bureau reported. This is 16.9% above the revised November estimate of 1,375,000 and is 40.8% above the December 2018 rate of 1,142,000. Single‐family housing starts in December were at a rate of 1,055,000; this is 11.2% above the revised November figure of 949,000. The December rate for units in buildings with five units or more was 536,000.
THE ECONOMIC WEEK AHEAD: Tomorrow, the National Association of Realtors will report about existing home sales for December. Thursday, the Labor Department will issue its initial claims report.
|
|
|
|
| Market Mirror |
Friday, the Dow was up 50.46 points (0.17%) at 29,348.10, the NASDAQ closed 31.81 points (0.34%) higher at 9,388.94, and the S&P 500 gained 12.81 points (0.39%) to finish at 3,329.62. The Russell 2000 decreased 5.58 points (0.33%) to 1,699.63, and the Wilshire 5000 increased 89.57 points (0.26%) to 33,917.32.
The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.830%. The price of the 30-year Treasury bond decreased 28/32, bringing its yield up to 2.285%.
For the week ending January 17, the Dow was up 1.82%, the NASDAQ gained 2.29%, and the S&P 500 increased 1.97%. The Russell 2000 climbed 2.53%, and the Wilshire 5000 finished 2.05% higher.
|
|
|
|
Deals and People
|
|
Retirement Industry People Moves
|
Transamerica Increases Client Engagement Team for Mega/Large Plans; Mercer Adds Investments and Retirement Business Leader; Segal Acquires Public-Sector Implementation Services Provider; and more. 
|
|
|
|
|
|
ON THIS DATE: In 1861, the future president of the Confederacy, Jefferson Davis of Mississippi, resigned from the Senate. Four other Southerners also resigned. In 1954, the Nautilus was launched in Groton, Connecticut. It was the first atomic-powered submarine. U.S. First Lady Mamie Eisenhower broke the traditional bottle of champagne across the bow. In 1970, the Boeing 747 made its first commercial flight from New York to London for Pan American. In 1977, President Jimmy Carter pardoned almost all Vietnam War draft evaders.
|
|
|
|
SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Which 2020 nominee for Best Motion Picture do you think should win the Oscar?” But first, I asked which of the Best Picture Oscar nominees they’ve seen. No one saw Jojo Rabbit, and no one saw all of them. The movie seen by the most responding readers was Once Upon a Time… in Hollywood, with 25.8% selecting it. Though it was only seen by a small number of readers, 1917 was selected by 30.4% as the nominee that should win the Oscar. This was followed by 17.4% who said Little Women should win and 13% each selected Ford v. Ferrari and The Irishman. Among the few readers who left comments, there seems to be some disdain for the Oscars—either the award itself or the show. One suggested a different movie that should win, and another said the movies he or she had seen were all horrible. There is no Editor’s Choice this week. A big thank you to all who participated in the survey!
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
|
|
|
