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January 27th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
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Today, the Census Bureau will report about new home sales for December. Tomorrow, the Conference Board will issue its Consumer Confidence Index for January, and the Census Bureau will report about durable goods orders for December. Thursday, the Labor Department will issue its initial claims report.
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| Market Mirror |
Friday, the Dow was down 170.36 points (0.58%) at 28,989.73, the NASDAQ closed 87.57 points (0.93%) lower at 9,314.91, and the S&P 500 decreased 30.07 points (0.90%) to 3,295.47. The Russell 2000 fell 22.78 points (1.35%) to 1,662.23, and the Wilshire 5000 lost 322.88 points (0.95%) to finish at 33,539.59.
The price of the 10-year Treasury note was up 4/32, decreasing its yield to 1.686%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 2.134%.
For the week ending January 24, the Dow lost 1.22%, the NASDAQ was down 0.79%, and the S&P 500 decreased 1.03%. The Russell 2000 fell 2.20%, and the Wilshire 5000 finished 1.11% lower.
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Deals and People
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Retirement Industry People Moves
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Acadian hires global equity research director; Maryland-based firm joins TRA; and ADP Expands Professional Employer Organization Offering to Hawaii. 
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ON THIS DATE: In 1880, Thomas Edison patented the electric incandescent lamp. In 1888, the National Geographic Society was founded in Washington, D.C. In 1927, United Independent Broadcasters Inc. started a radio network with contracts with 16 stations. The company later became Columbia Broadcasting System (CBS). In 1943, during World War II, the first all American air raid against Germany took place when about 50 bombers attacked Wilhlemshaven. In 1945, Soviet troops liberated the Nazi concentration camps Auschwitz and Birkenau in Poland. In 1948, Wire Recording Corporation of America announced the first magnetic tape recorder. The ‘Wireway’ machine with a built-in oscillator sold for $149.50. In 1967, at Cape Kennedy, Florida, astronauts Virgil I. “Gus” Grissom, Edward H. White and Roger B. Chaffee died in a flash fire during a test aboard their Apollo I spacecraft. In 1973, the Vietnam peace accords were signed in Paris. In 2003, Altria Group, Inc. became the name of the parent company of Kraft Foods, Philip Morris USA, Philip Morris International and Philip Morris Capital Corporation. In 2010, Steve Jobs unveiled the Apple iPad.
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SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Which team do you want to win Super Bowl 54?” The Kansas City Chiefs are the clear favorites, with two-thirds of responding readers selecting that team to win. Only 16.7% selected the San Francisco 49ers, and the same percentage chose “don’t know/care.” Among those who chose to leave comments, it seems quite a few are cheering for the Chiefs because of Coach Andy Reid. Of course, a few expressed gladness that there were new contenders in the game this year. A number of readers are looking forward to the ads, although one said, “Even the commercials won’t be enough for me to care about this game.” This week’s Editor’s Choice goes to the commenter that made me LOL: “I want the red team to win.” Thanks to everyone who participated in the survey!
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