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January 8th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
Total nonfarm payroll employment increased by 216,000 in December, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported. Employment continued to trend up in government, health care, social assistance, and construction, while transportation and warehousing lost jobs.
Wednesday, the Census Bureau will announce wholesale inventories for November. Thursday, the Department of Labor will report initial jobless claims, the Bureau of Labor will report the Consumer Price Index for December and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor will report the Producer Price Index for December.
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| MARKET MIRROR |
Friday, the Dow rose 25.77 points (0.77%) to close at 37,466.11, the Nasdaq rose 13.77 points (0.09%) to close at 14,524.07 and the S&P 500 rose 8.56 points (0.18%) to close at 4,697.24. The Russell 2000 lost 6.58 points (0.34%) to close at 1,951.14, and the FT Wilshire 5000 Index rose 81.55 points (0.17%) to close at 47,439.62.
The 10-year Treasury note decreased 26/32, bringing the yield to 4.044%. The 30-year Treasury bond decreased 31/32, bringing the yield to 4.200%.
For the week ending January 5, the Dow fell 0.59%, the Nasdaq fell 3.25% and the S&P 500 fell 1.52%. The Russell 2000 fell 3.75%, and the FT Wilshire 5000 Index finished 1.77% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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2 new Nationwide leaders will focus on product solutions; Kane assumes role as president of Financial Planning Association; Edelman Financial Engines appoints Hanley as chief marketing officer; and more. 
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ON THIS DATE: In 1918, President Woodrow Wilson announced his Fourteen Points, an outline for peace following World War I. In 1935, singer and actor Elvis Presley was born in Tupelo, Mississippi. In 1942, English theoretical physicist Stephen Hawking, who developed a theory of exploding black holes that drew upon both relativity theory and quantum mechanics, was born. In 1959, Charles de Gaulle was inaugurated as president of France’s Fifth Republic. In 1997, the principality of Monaco began a yearlong celebration in honor of the 700th anniversary of the rule of the Grimaldi family, who seized power in 1297 and gained firm possession of Monaco in 1419. In 1998, Ramzi Ahmed Yousef, convicted of plotting the 1993 terrorist bombing of the World Trade Center in New York, was sentenced to life in prison. In 2011, U.S. Representative Gabby Giffords, D-Arizona, was shot during an assassination attempt; although she survived, six others were killed. In 2016, Mexican criminal Joaquín “El Chapo” Guzmán, head of the Sinaloa drug cartel, was captured in Los Mochis after escaping prison, via tunnel that was almost a mile long, some six months earlier; he was extradited to the U.S., where he was convicted of various crimes.
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