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January 5th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
In the week ending December 30, the advance figure for seasonally adjusted initial claims was 202,000, a decrease of 18,000 from the previous week’s revised level of 220,000, the Department of Labor announced. The four-week moving average was 207,750, a decrease of 4,750 from the previous week’s revised average of 212,500.
Interest on a 30-year fixed-rate mortgage averaged 6.62% for the week ending January 4, up from last week when it averaged 6.61%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 6.48%. Interest on a 15-year fixed-rate mortgage averaged 5.89%, down from last week when it averaged 5.93%. A year ago at this time, the 15-year FRM averaged 5.73%.
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| MARKET MIRROR |
Thursday, the Dow rose 10.15 points (0.03%) to close at 37,440.34, the Nasdaq fell 81.91 points (0.56%) to close at 14,510.30 and the S&P 500 fell 16.13 points (0.34%) to close at 4,688.68. The Russell 2000 fell 1.47 points (0.08%) to close at 1,957.73, and the FT Wilshire 5000 fell 139.77 points (0.29%) to close at 47,358.07.
The 10-year Treasury note decreased 7/32, bringing the yield to 3.998%. The 30-year Treasury bond decreased 1 4/32, bringing the yield to 4.151%.
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ON THIS DATE: In 1919, Anton Drexler founded the German Workers’ Party, the forerunner of the Nazi Party, in Munich. In 1925, Nellie Tayloe Ross assumed office in Wyoming, becoming the first female governor in the U.S. In 1931, actor Robert Duvall, known for his roles in “The Godfather,” “The Great Santini” and “To Kill a Mockingbird,” was born in San Diego. In 1933, in San Francisco, construction began on the Golden Gate Bridge, a suspension bridge that once boasted the longest main span in the world and that has been celebrated for the magnificence of its setting. In 1946, actress and director Diane Keaton, who first achieved fame in quirky comic roles before earning acclaim as a dramatic actress, was born. In 1953, “Waiting for Godot,” an influential and enduring play by Irish writer Samuel Beckett, was staged for the first time in Paris. In 1973, musician Bruce Springsteen released his debut album, “Greetings from Asbury Park, N.J.” In 1998, Daniel arap Moi was sworn in as president of Kenya for his fifth consecutive term. In 2005, the dwarf planet Eris was discovered in images taken two years earlier at Palomar Observatory in California. In 2014, Eusébio, regarded as one of the greatest Portuguese soccer players of all time, died in Lisbon.
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