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July 15th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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DEALS AND PEOPLE
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Retirement Industry People Moves
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First Eagle Investments hires senior director of consultant relations; Vanguard Group head of Europe announces retirement; Manulife names head of insurance. 
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| ECONOMIC EVENTS |
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Tuesday, the Census Bureau will report retail sales for June. Wednesday, the Census Bureau will report housing starts for June. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week.
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| MARKET MIRROR |
Friday, the Dow rose 247.15 points (0.62%) to close at 40,000.90, the Nasdaq rose 115.04 points (0.63%) to close at 18,398.45 and the S&P 500 rose 30.81 points (0.55%) to close at 5,615.35. The Russell 2000 rose 23.23 points (1.09%) to close at 2,148.27 and the FT Wilshire 5000 Index rose 339.47 points (0.61%) to close at 56,083.53.
The 10-year Treasury note increased 2/32, bringing the yield to 4.188%. The 30-year Treasury bond rose 4/32, bringing the yield to 4.398%.
For the week ending July 12, the Dow rose 1.59%, the Nasdaq rose 0.25% and the S&P 500 rose 0.87%. The Russell 2000 rose 6.00%, and the FT Wilshire 5000 Index finished 1.25% higher.
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SPECIAL COVERAGE
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DC Plan Design
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A review of how plan sponsors can use defined contribution plan design to help participants meet retirement goals.
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FINANCIAL WELLNESS
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Savings Need to Last
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An overlooked factor in financial wellness is participant withdrawal rates.
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ON THIS DATE: In 1912, Jim Thorpe won a gold medal for the decathlon at the Olympics in Stockholm; he also captured a gold medal for the pentathlon. In 1922, Leon Max Lederman, who was a corecipient of the 1988 Nobel Prize for Physics for research on neutrinos, was born in New York City. In 1965, Mariner 4, an uncrewed space probe launched by NASA in 1964, flew by Mars and returned close-up pictures of its surface. The pictures proved the planet’s rumored canals were actually illusions. In 1978, singer-songwriter Bob Dylan performed in England before 200,000 people. In 1998, the thriller “Die Hard” was first released in U.S. theatres, launching a hugely popular series and helping establish Bruce Willis as an action star. In 1997, Italian fashion designer Gianni Versace was murdered by serial killer Andrew Cunanan. In 2006, cofounders Jack Dorsey, Evan Williams and Biz Stone publicly launched their online microblogging service then known as Twitter, and within the following decade it had more than 300 million users.
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