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| Economic Events | |
The U.S. Census Bureau of the Department of Commerce announced that construction spending during May was estimated at a seasonally adjusted annual rate of $1,035.8 billion, 0.8% above the revised April estimate of $1,027.0 billion. The May figure is 8.2% above the May 2014 estimate of $957.6 billion. | |
| Market Mirror | |
U.S. stock indices closed higher Wednesday as investors hopes were raised after Greece’s government appeared to soften its stance toward its creditors, according to the Associated Press. The Dow increased 138.40 points (0.79%) to 17,757.91, the NASDAQ closed 26.26 points (0.53%) higher at 5,013.12, and the S&P 500 gained 14.31 points (0.69%) to finish at 2,077.42. The Russell 2000 was up 2.45 points (0.20%) at 1,256.39, and the Wilshire 5000 climbed 126.35 points (0.58%) to 21,968.09. On the NYSE, 3.2 billion shares traded, with 1.7 advancing issues for every declining issue. On the NASDAQ, 2.8 billion shares changed hands, with a slight lead for advancers. The price of the 10-year Treasury note decreased 18/32, bringing its yield up to 2.425%. The price of the 30-year bond fell 1 16/32, increasing its yield to 3.206%. | |
| Compliance | |
| DOL Announces Health Benefits Law Seminars | |
| The U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) will host its Health Benefits Law Compliance Assistance Seminar in three states.Read more > | |
| Plan Sponsor Shares Tips for Surviving IRS Audit | |
| Retirement plan sponsors may feel understandably panicked when they get a notice from the Internal Revenue Service (IRS) that their plan is being audited. A human resources (HR) director from Vanderbilt University shared tips from her IRS plan audit experience with attendees of the National Tax-Deferred Savings Association (NTSA) 403(b) Summit.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1776, the Second Continental Congress, assembled in Philadelphia, formally adopted Richard Henry Lee’s resolution for independence from Great Britain. In 1881, only four months into his administration, President James A. Garfield was shot as he walked through a railroad waiting room in Washington, D.C. In 1937, the Lockheed aircraft carrying American aviator Amelia Earhart and navigator Frederick Noonan was reported missing near Howland Island in the Pacific. In 1939, at Mount Rushmore, Theodore Roosevelt’s face was dedicated. In 1947, an object crashed near Roswell, New Mexico. The U.S. Army Air Force insisted it was a weather balloon, but eyewitness accounts led to speculation that it might have been an alien spacecraft. In 1964, U.S. President Lyndon B. Johnson signed into law the Civil Rights Act. In 1977, “Gonna Fly Now (Theme From ‘Rocky’)” was the No. 1 song on the U.S. pop charts. | |
| SURVEY SAYS: Many NewsDash readers may be out of the office already celebrating the 4th of July holiday. However, I’d like to ask those of you still around (or those who read the NewsDash even when out of the office), how do you celebrate? You may respond to this week’s survey today or tomorrow.Read more > | |
| Have a wonderful holiday weekend! We are off tomorrow, but NewsDash will be back in your inbox Monday. | |
| Share the good news with a friend! Pass the Dash along – and tell your friends/associates they can sign up for their own copy.Read more > | |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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