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January 21st, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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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.
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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.
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Deals and People
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Retirement Industry People Moves
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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.
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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.
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