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| Products, Deals & People | |
| Nonprofit trade association PSCA has appointed Tony Verheyen as executive director, following the resignation of Bob Benish.Read more > | |
| Economic Events | |
| New orders for manufactured goods in November, down four consecutive months, decreased $3.5 billion or 0.7% to $492.7 billion, the U.S. Census Bureau reported. This followed a 0.7% October decrease. Excluding transportation, new orders decreased 0.6%. Shipments, down three of the last four months, decreased $2.8 billion or 0.6% to $495.7 billion. Inventories, up 24 of the last 25 months, increased $0.7 billion or 0.1% to $656.3 billion. | |
| Market Mirror | |
Major U.S. stock indices took a tumble again Tuesday, with the Dow down 130.01 points (0.74%) at 17,371.64. The NASDAQ lost 59.84 points (1.29%) to finish at 4,592.74, and the S&P 500 decreased 17.97 points (0.89%) to 2,002.61. The Russell 2000 fell 20.03 points (1.70%) to 1,161.31, and the Wilshire 5000 closed 208.81 points (0.98%) lower at 21,060.25.
On the NYSE, 3.2 billion shares changed hands, with declining issues outnumbering advancing issues 2 to 1. On the NASDAQ, 2.7 billion shares traded, with a more than 3 to 1 lead for decliners.
The price of the 10-year Treasury note was up 26/32, bringing its yield down to 1.944%. The price of the 30-year Treasury bond increased 2 3/32, decreasing its yield to 2.503%. | |
| Compliance | |
| Summaries of the latest from Washington and the courts—what’s coming, what’s contemplated and what’s critical to plan sponsors.Read more > | |
| From the Magazine | |
| Asset Class Focus: Annuity Choices | |
| Over time, a glacier that has built up over many years of accumulation can slowly turn to liquid and begin to shrink—what glaciologists call “ablation.” Retirees face a similar challenge in preventing their buildup of savings from dissolving too quickly to yield sufficient funds for the rest of their lifetime. Now that the first 401(k) participants are retiring, the industry is early in its own ablation phase, and providers are bringing to market investment products designed to ensure that participants’ hard-earned savings will see prudent liquidation into retirement income.Read more > | |
| Small Talk | |
| Coworkers Make the Strangest… Gift-Givers? | |
| According to a survey by CareerBuilder, about two in 10 workers said they would give a co-worker a holiday gift in 2014, and about the same number said they would give their boss a gift. Workers surveyed shared some of the most unusual gifts they’ve gotten from coworkers.Read more > | |
| ON THIS DATE: In 1782, the Bank of North America opened in Philadelphia. It was the first commercial bank in the United States. In 1789, America’s first presidential election was held. In 1894, W.K. Dickson received a patent for motion picture film. In 1927, the Harlem Globetrotters basketball team played their first game in Hinckley, Illinois. In 1947, “Rudolph the Red-Nosed Reindeer” was the No. 1 song on the U.S. pop charts. In 1953, in his final State of the Union address before Congress, President Harry S. Truman told the world that that the United States had developed a hydrogen bomb. In 1968, the cost of a U.S. first class stamp was raised to 6 cents. In 1999, the impeachment trial of President Bill Clinton, formally charged with lying under oath and obstructing justice, began in the Senate. | |
| WEDNESDAY WISDOM: “Adopt the pace of nature: Her secret is patience.” —Ralph Waldo Emerson, American poet | |
| Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more > | |
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Copyright © Asset International, Inc., 2014. All rights reserved. No reproduction without prior authorization. |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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