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July 17th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Census Bureau will announce advance estimated of U.S. retail and food services sales for June. Wednesday, the Census Bureau will announce housing starts for June. Thursday, the Department of Labor will issue its initial jobless claims report, the National Association of Realtors will report existing home sales and Freddie Mac will update average mortgage rates for the week.
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| MARKET MIRROR |
Friday, the Dow rose 113.89 points (0.33%) to close at 34,509.03, the Nasdaq fell 24.87 points (0.18%) to close at 14,113.70 and the S&P 500 fell 4.62 points (0.10%) to close at 4,505.42. The Russell 2000 lost 19.80 points (1.01%) to close at 1,931.09, and the FT Wilshire 5000 Index lost 103.92 points (0.23%) to close at 45,530.32.
The price of the 10-year Treasury note decreased 5/32, bringing the yield to 3.832%. The price of the 30-year Treasury bond decreased 26/32, bringing the yield to 3.929%.
For the week ending July 14, the Dow rose 2.29%, the S&P 500 rose 2.42% and the Nasdaq rose 3.32%. The Russell 2000 rose 3.56%, and the FT Wilshire 5000 Index finished 2.60% higher.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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NFP hires Perkins as SVP; Cochrane to lead Hub International non-profit specialty; OneDigital names Fong VP; and more. 
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ON THIS DATE: In 1936, an uprising by Nationalist rebels against the Republican government of Spain began, sparking a bloody civil war that lasted until 1939, when the Nationalists and Francisco Franco assumed power. In 1945, Joseph Stalin, Winston Churchill and Harry S. Truman met at the Potsdam Conference, the last Allied summit conference of World War II. In 1955, Disneyland opened in Anaheim, California. In 1998, the United Nations completed the statute establishing the International Criminal Court, which began sittings four years later. In 2009, journalist Walter Cronkite – who, as the longtime anchor of “CBS Evening Hour with Walter Cronkite,” became known as “the most trusted man in America” – died at age 92. In 2014, Malaysia Airlines Flight 17 crashed in separatist-held territory in Ukraine, killing all 298 people on board; a Dutch investigation later determined that the aircraft was shot down by a Russian-made surface-to-air missile. In 2020, civil rights leader and politician John Lewis – who helped lead the march halted by police violence on the Edmund Pettus Bridge in Selma, Alabama, in 1965, a landmark event in the civil rights movement – died at age 80.
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