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January 24th, 2025
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
In the week ending January 18, the advance figure for seasonally adjusted initial jobless claims was 223,000, an increase of 6,000 from the previous week’s unrevised level of 217,000, the Department of Labor announced. The four-week moving average was 213,500, an increase of 750 from the previous week’s unrevised average of 212,750.
Interest on a 30-year fixed-rate mortgage averaged 6.96% for the week ending January 23, down from last week when it averaged 7.04%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 6.69%. Interest on a 15-year fixed-rate mortgage averaged 6.16%, down from last week when it averaged 6.27%. A year ago at this time, the 15-year FRM averaged 5.96%.
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| MARKET MIRROR |
Thursday, the Dow rose 408.34 points (0.92%) to close at 44,565.07, the Nasdaq rose 44.34 points (0.22%) to close at 20,053.68 and the S&P 500 rose 32.34 points (0.53%) to close at 6,118.71. The Russell 2000 rose 10.88 points (0.47%) to close at 2,314.60, and the FT Wilshire 5000 Index rose 312.09 points (0.51%) to close at 61,493.12.
The 10-year Treasury note decreased 24/32, bringing the yield to 4.649%. The 30-year Treasury bond decreased 7/32, bringing the yield to 4.873%.
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PRODUCTS
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Product & Service Launches
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The Retirement Advantage launches its Select 401(k) PEP, John Hancock Investment Management launches alternatives offering; Cetera Partners with TIFIN AG. 
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Awards
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MEPs and PEPs Eligible for Plan Sponsor of the Year
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PLANSPONSOR is opening its Plan Sponsor of the Year awards to closed MEPs and to PEPs. Only the pooled plan provider, or PPP, of a PEP can apply, and only the sponsoring entity of a closed MEP can apply. If we have enough entries, we will recognize these categories in the 2025 awards program.If you...
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ON THIS DATE: In 1848, carpenter James Wilson Marshall found nuggets of gold in California’s American River near the site of a sawmill he was building for John Sutter, ushering in a gold rush. In 1941, The film adaptation of John Steinbeck’s novel “The Grapes of Wrath,” premiered. The same year, singer/songwriter Neil Diamond, who wrote pop songs for other musicians before launching a successful solo recording career, was born. In 1984, Steve Jobs introduced Apple’s revolutionary computer Macintosh, two days after the groundbreaking commercial “1984” aired before a national TV audience and heralded the product’s impending release. In 1989, serial killer Ted Bundy—who confessed to murdering 30 women, though many believe the number to be much higher—was executed at age 42. In 1993, lawyer and civil rights activist Thurgood Marshall, who was the first African American to serve on the U.S. Supreme Court, died at age 84. In 2003, Tom Ridge was sworn in as the inaugural secretary of the new U.S. Department of Homeland Security, created in the aftermath of the September 11, 2001, attacks. In 2004, the six-wheeled robotic rover, Opportunity, landed on Mars and—like its twin rover, Spirit, which had landed on January 3—analyzed rocks and soils and relayed pictures back to Earth.
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