|
January 22nd, 2024
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
Compliance
|
|
Auto-Portability Proposal Is In
|
The proposal would implement a SECURE 2.0 provision intended to make it easier to transfer money between DC plans to limit leakage. 
|
|
|
|
|
|
| ECONOMIC EVENTS |
Existing-home sales fell 1.0% in December to a seasonally adjusted annual rate of 3.78 million, the National Association of Realtors reported. Sales dropped 6.2% from the previous year. The median existing-home sales price rose 4.4% from December 2022 to $382,600—the sixth consecutive month of year-over-year price increases. On an annual basis, existing-home sales dropped to, 4.09 million, the lowest level since 1995, while the median price reached a record high of $389,800 in 2023.
Thursday, the Department of Labor will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the Census Bureau will report new home sales for December.
|
|
|
|
| MARKET MIRROR |
Friday, the Dow rose 395.19 points (1.05%) to close at 37,863.80, the Nasdaq rose 255.32 points (1.70%) to close at 15,310.97 and the S&P 500 rose 58.87 points (1.23%) to close at 4,839.81, a record high. The Russell 2000 rose 20.74 points (1.08%) to close at 1,944.39, and the FT Wilshire 5000 Index rose 583.40 points (1.21%) to close at 48,725.62.
The 10-year Treasury note was unchanged, bringing the yield to 4.131%. The 30-year Treasury bond fell 1/32, bringing the yield to 4.333%.
For the week ending January 19, the Dow rose 0.72%, the Nasdaq rose 2.26% and the S&P 500 rose 1.17%. The Russell 2000 fell 0.34%, and the FT Wilshire 5000 Index ended 1.01% higher.
|
|
|
|
|
|
|
|
DEALS AND PEOPLE
|
|
Retirement Industry People Moves
|
|
Transamerica names Dickinson director of participant engagement; Vestwell bolsters sales team; Voya names Leary to board.
|
|
|
|
|
ON THIS DATE: In 1901, Queen Victoria—who reigned for more than 60 years, during which time the British Empire reached the apex of its power—died at age 81. In 1905, on what was later known as Bloody Sunday, Russian workers marching on St. Petersburg were fired on by Russian troops. In 1931, singer and songwriter Sam Cooke, one of the most influential Black vocalists of the post-World War II era, was born in Clarksdale, Mississippi. In 1943, all Japanese resistance in Papua, New Guinea, site of an important allied base at Port Moresby in World War II, ceased. In 1973, the U.S. Supreme Court issued one of its most momentous decisions, ruling in Roe v. Wade that a Texas statute criminalizing abortion in most instances violated a woman’s constitutional right of privacy. The Supreme Court overturned that decision on June 24, 2022, in Dobbs v. Jackson Women’s Health Organization. In 1992, serving as a payload specialist aboard the Discovery space shuttle, Roberta Bondar became the first Canadian woman and the first neurologist to travel into space. In 1998, one of the most notorious domestic terrorists in U.S. history, Theodore Kaczynski, the so-called Unabomber, who killed three people and injured 22 in 16 attacks between 1979 and 1995, was sentenced to four terms of life in prison without parole. In 2006, Evo Morales, a member of the Aymara indigenous group, was sworn in as president of Bolivia, becoming the first indigenous person to hold the office. In 2010, struggling with ratings, Conan O’Brien left “The Tonight Show” after hosting his last episode of the late-night television program. In 2021, professional baseball player Hank Aaron, one of the game’s greatest hitters, died at the age of 86.
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
Copyright ©2025 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
|
|
702 King Farm Boulevard, Suite 300, Rockville, MD 20850
|
|
|
