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January 3rd, 2025
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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In the week ending December 28, the advance figure for seasonally adjusted initial claims was 211,000, a decrease of 9,000 from the previous week’s revised level of 220,000, the Department of Labor announced. The four-week moving average was 223,250, a decrease of 3,500 from the previous week’s revised average of 226,750.
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| MARKET MIRROR |
Thursday, the Dow fell 151.95 points (0.36%) to close at 42,392.27, the Nasdaq fell 30.00 points (0.16%) to close at 19,280.79 and the S&P 500 fell 13.08 points (0.22%) to close at 5,868.55. The Russell 2000 rose 1.51 points (0.07%) to close at 2,231.67, and the FT Wilshire 5000 Index fell 90.83 points (0.15%) to close at 58,879.19.
The 10-year Treasury note increased 1/32, bringing the yield to 4.566%. The 30-year Treasury bond was unchanged, bringing the yield to 4.783%.
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PRODUCTS
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Product & Service Launches
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GROUPIRA launches IRA rollovers with Microsoft Azure; PGIM adds 2 Buffer ETF series and laddered buffer ETF; Closed-end funds advised by Franklin Templeton announce retirement of directors. 
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ON THIS DATE: 1938, U.S. President Franklin D. Roosevelt established the National Foundation of Infantile Paralysis (later called the March of Dimes) to find a cure for polio, a disease he had been stricken with in 1921. In 1939, Canadian professional ice hockey player Bobby Hull, the “Golden Jet,” was born. In 1959, Alaska became the 49th U.S. state. In 1962, Pope John XXII excommunicated Fidel Castro, who had transformed Cuba into a communist state; at the time, the Roman Catholic Church opposed communism. In 1977, Apple Inc. was incorporated by Steve Jobs and Steve Wozniak; it has become one of the most valuable companies in the world, known for innovative computer and electronic products. In 1990, after undergoing 10 days of psychological warfare—which included U.S. forces blasting rock music at the Vatican embassy, where he had sought refuge—Panamanian military leader Manuel Noriega surrendered to U.S. troops in Panama City. In 2001, Hillary Clinton was sworn in as a U.S. senator from New York, having become the first first lady in U.S. history to win elective office. In 2004, NASA’s Mars Exploration Rover Spirit landed on Mars to study the chemical and physical composition of the planet’s surface.
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