| Sponsored message from J.P. Morgan Asset Management | How the SECURE Act would impact 401(k)s | Dan Notto, ERISA Strategist, discusses important changes to the retirement plan landscape if the SECURE Act gets signed into law.Read more > | | Economic Events | The Producer Price Index for final demand advanced 0.1% in June, as prices for final demand services increased 0.4%, and the index for final demand goods fell 0.4%, the Bureau of Labor Statistics reported. The final demand index rose 1.7% for the 12 months ended in June. THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about retail sales for June and business trade for May. Wednesday, the Census Bureau will report about housing starts for June. Thursday, the Labor Department will issue its initial claims report. | | Market Mirror | Friday, the Dow climbed 243.95 points (0.90%) to 27,332.03, the NASDAQ closed 48.10 points (0.59%) higher at 8,244.14, and the S&P 500 increased 13.86 points (0.46%) to 3,013.77. The Russell 2000 was up 12.08 points (0.78%) at 1,570.00, and the Wilshire 5000 gained 155.36 points (0.50%) to finish at 30,984.93. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.124%. The price of the 30-year Treasury bond increased 3/32, bringing its yield down to 2.649%. WEEK’S WORTH: For the week ending July 12, the Dow climbed 1.52%, the NASDAQ gained 1.01%, and the S&P 500 finished 0.78% higher. The Russell 2000 was down 0.36%, and the Wilshire 5000 increased 0.72%. | | Benefits & Administration | Legislative Proposals Could Help Retirement Income Adequacy: EBRI | Younger employees would benefit most from a requirement for employers to offer retirement plans, while older employees would benefit most from providing the option of guaranteed income for life from defined contribution (DC) plans.Read more > | | From the Magazine | What Makes a Super Saver? | Starting early is a key component of Super Savers’ investment strategies, and for them, investments take priority over housing and day-to-day costs.Read more > | | Small Talk | ON THIS DATE: In 1870, Georgia became the last of the Confederate states to be readmitted to the Union. In 1885, in New York, the Niagara Reservation State Park opened. In 1904, the first Buddhist temple in the U.S. was established in Los Angeles. In 1916, in Seattle, Pacific Aero Products was incorporated by William Boeing. The company was later renamed Boeing Co. In 1918, the Second Battle of the Marne began during World War I. In 1965, the spacecraft Mariner IV sent back the first close-up pictures of the planet Mars. In 1968, commercial air travel began between the U.S. and the U.S.S.R., when the first plane, a Soviet Aeroflot jet, landed at Kennedy International Airport in New York. In 2006, the social networking service Twitter was launched. | SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “Would you rather celebrate Independence Day on July 4, no matter on which day of the week it falls, or move the holiday to the Monday or Friday of that week?” The vast majority (83.7%) of responding readers say Independence Day should be celebrated on July 4, no matter on which day of the week it falls. Trailing by a wide margin, 9.8% of readers chose Friday of that week, 8.7% chose Monday of that week, and 1.1% had no opinion. Comments left by readers explained the majority’s reasoning, as many claimed July 4 is the actual “birth date” of America and should be celebrated as such, just as we celebrate our own birthdays. Others said important historical holidays shouldn’t be set “just for convenience.” Of interest is that Congressional history shows independence was formally declared on July 2, 1776, a date that John Adams said would be “the most memorable epocha in the history of America.” On July 4 of that year, Congress approved the final text of the Declaration, but it wasn’t signed until August 2. Others mentioned they like a break during the week, and one suggested moving it to either Monday or Friday, depending on which weekday it falls. Editor’s Choice goes to the reader who offered a joke: “Do you know why there are no knock-knock jokes about the 4th of July? Because freedom rings!” Thank you to all who participated in the survey!Read more > | Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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