| | Market Mirror | Yesterday, the Dow closed increased 80.19 points (0.44%) to 18,226.93, the NASDAQ gained 31.88 points (0.64%) to finish at 4,988.64, and the S&P 500 was up 8.53 points (0.40%) at 2,138.43. The Russell 2000 climbed 12.67 points (1.08%) to 1,190.03, and the Wilshire 5000 closed 96.11 points (0.44%) higher at 22,136.82.
On the NYSE, 3.1 billion shares changed hands, with advancing issues outnumbering declining issues more than 2 to 1. On the NASDAQ, 2.7 billion shares traded, with a 2 to 1 lead for advancers.
The price of the 10-year Treasury note decreased 21/32, bringing its yield up to 1.433%. The price of the 30-year Treasury bond fell 30/32, increasing its yield to 2.141%. | | | Compliance | | Court Moves Forward Delta Pilots’ Suit Against PBGC | | The U.S. District Court for the District of Columbia has found that former Delta Air Lines pilots have plausibly alleged that the Pension Benefit Guaranty Corporation (PBGC), in its capacity as trustee, engaged in various conduct that resulted in it “earn[ing] massive investment returns off of assets that should have been timely allocated” to the plaintiffs.Read more > | | | Investing | | Cost of Purchasing Annuities Has Spiked | | “Pre-retirees now need to plan on having nearly 10% more in retirement savings than before, in order to buy the same level of deferred income,” BlackRock warns.Read more > | | Pension Funds Largest Group of Alternatives Investors | | Total assets managed by the top 100 alternative investment managers globally reached $3.6 trillion, up 3% from the prior year, according to Willis Towers Watson. The research, which includes data on a diverse range of institutional investor types, shows that pension fund assets represent one-third (34%) of the top 100 alternative managers’ assets. Real estate managers continue to have the largest share of pension fund assets.Read more > | | | Small Talk | | ON THIS DATE: In 1862, the U.S. Congress authorized the Medal of Honor. In 1870, the first rotary can opener with a cutting wheel was patented by William W. Lyman. In 1933, a minimum wage of 40 cents an hour was established in the U.S. In 1954, U.S. President Dwight D. Eisenhower proposed a highway modernization program, with costs to be shared by federal and state governments. In 1954, the Major League Baseball Players Association was organized in Cleveland, Ohio. In 1957, U.S. Surgeon General Leroy E. Burney reported that there was a direct link between smoking and lung cancer. In 1982, the last of the distinctive-looking Checker taxicabs rolled off the assembly line in Kalamazoo, Michigan. In 1984, Democratic presidential candidate Walter F. Mondale named U.S. Representative Geraldine A. Ferraro of New York to be his running mate. Ferraro was the first woman to run for vice president on a major party ticket. | | TRIVIAL PURSUITS: Why is ‘Fido’ a name associated with dogs?Read more > | | Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
|
