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July 11th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6%, the Bureau of Labor Statistics reported. Notable job gains occurred in professional and business services, leisure and hospitality, and health care.
Wednesday, the Bureau of labor Statistics will reveal the consumer price index for June. Thursday, Freddie Mac will report average interest on 15-year and 30-year fixed-rate mortgages and the Department of Labor will report about claims for unemployment insurance. Friday, the Census Bureau will report about business inventories for May and retail sales for June.
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| MARKET MIRROR |
Friday, the Dow slipped 46.40 points (0.15%) to 31,338.15, the Nasdaq gained 13.96 points (0.12%) to 11,635.31 and the S&P 500 slumped 3.24 points (0.08%) to 3,899.38. The Russell 2000 sagged 0.2399 points (0.01%) to 1,769.36 and the Wilshire 5000 slipped 34.12 points (0.09%) to 38,850.46.
The price of the 10-year Treasury note fell 6/32 bringing its yield up to 3.078%. The price of the 30-year Treasury bond decreased 1 2/32 raising its yield up to 3.253%.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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First Trust Capital Partners acquires direct indexing firm; New York Life appoints head of retail annuities; Security Benefit appoints chief operating officer; and more. 
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Data and Research
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Two-Thirds of Retirees Carry Major Financial Regrets
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A new EBRI analysis shows retirees without major financial regrets tend to report substantially higher liquid financial assets, as expected, but there are ways to feel secure beyond accumulating excess assets.
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ON THIS DATE: In 1804, outraged over disparaging remarks that Alexander Hamilton had allegedly made at a dinner party, Aaron Burr challenged his longtime rival to a duel, and fatally shot Hamilton in Weehawken, New Jersey. In 1863, angered by practices in Civil War conscription, New York City workers rioted and attacked draft headquarters. In 1914, George Herman (“Babe”) Ruth played in his first Major League Baseball game, for the Boston Red Sox. In 1936, the Triborough Bridge (later renamed the Robert F. Kennedy Bridge), designed by David Barnard Steinman, opened in New York City. In 1960, American author Harper Lee’s To Kill a Mockingbird was published and became a classic, noted for its sensitive treatment of a child’s awakening to racism and prejudice in the South. In 1995, President Bill Clinton established full diplomatic relations with Vietnam. In 2007, American first lady (1963–69) and environmentalist Lady Bird Johnson—the wife of Lyndon B. Johnson, 36th president of the United States—died in Texas.
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