|
July 17th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
| Economic Events |
The combined value of distributive trade sales and manufacturers’ shipments for May, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,284.3 billion, up 8.4% from April, but down 11.8% from May 2019, the Census Bureau reported.
Advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $524.3 billion, an increase of 7.5% from the previous month, and 1.1% above June 2019. Total sales for the April through June period were down 8.1% from the same period a year ago. Retail trade sales were up 6.4% from May, and 5.0% above last year. Nonstore retailers were up 23.5% from June 2019, while building material and garden equipment and supplies dealers were up 17.3% from last year.
Interest on a 30-year fixed-rate mortgage averaged 2.98% for the week ending July 16, down from 3.03% a week ago, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.81%. Interest on a 15-year fixed-rate mortgage averaged 2.48%, down from last week when it averaged 2.51%. A year ago at this time, the 15-year FRM averaged 3.23%.
In the week ending July 11, the advance figure for seasonally adjusted initial claims for unemployment insurance was 1,300,000, a decrease of 10,000 from the previous week’s revised level of 1,310,000, the Labor Department reported. The four-week moving average was 1,375,000, a decrease of 60,000 from the previous week’s revised average of 1,435,000.
|
|
|
|
| Market Mirror |
Thursday, the Dow lost 135.39 points (0.50%) to finish at 26,734.71, the NASDAQ decreased 76.66 points (0.73%) to 10,473.83, and the S&P 500 was down 10.99 points (0.34%) at 3,215.57. The Russell 2000 climbed 39.30 points (2.75%) to 1,467.56, and the Wilshire 5000 closed 129.57 points (0.39%) lower at 32,805.84.
The price of the 10-year Treasury note increased 23/32, bringing its yield down to 0.615%. The price of the 30-year Treasury bond increased 28/32, decreasing its yield to 1.308%.
|
|
|
|
|
|
|
|
Products
|
|
Investment Product and Service Launches
|
Franklin Templeton adds fixed-income ETF offering; OneAmerica releases RetirementTrack target-date series; and BCG teams up with Russell Investments to launch personalized solution. 
|
|
|
|
|
|
ON THIS DATE: In 1821, Spain ceded Florida to the U.S. In 1867, Harvard School of Dental Medicine was established in Boston. It was the first dental school in the U.S. In 1955, Disneyland opened in Anaheim, California. In 1997, after 117 years, the Woolworth Corp. closed its last 400 stores.
And now it’s time for FRIDAY FUN!
|
|
|
|
Little boy learns a lesson the hard way. “Wait, isn’t it chocolate?”
The boy is so fast! But, he’s not going to win the race in that direction.
Beware of rogue tires.
In Cornwall, England, the owner of a pub, who is also a farmer, has a shocking way of making sure people social distance—an electric fence. “Before the fence, people were not following social-distancing and were doing as they pleased, but now people take heed to the guidance around social distancing,” he told the UK’s Metro. The fence is a way of keeping people away from the bar. The owner said the fence is usually turned off, but a barman says “people don’t want to test it.” ITV reports that several people who have had “one too many” claim they have been electrocuted.
In North London, residents of an elder care facility have recreated classic album covers while on lockdown. “Bowie fan Roma Cohen is the spit of her idol on 1973 disc Aladdin Sane—complete with the glam rocker’s lightning bolt make-up,” says a caption in The Sun. A 95-year-old imitates Michael Jackson on one. If you have a Twitter account, look up the residents of Sydmar Lodge Care Home in Edgware, North London.
Have a safe and happy weekend, everyone!
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
|
|
|
