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| Economic Events | |
| THE ECONOMIC WEEK AHEAD: Today, the Census Bureau will report about construction spending for May. Tomorrow, it will report about factory orders for May. Thursday, the Labor Department will issue its initial claims report. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for June. | |
| Market Mirror | |
Friday, the Dow closed 55.36 points (0.23%) higher at 24,271.41, the NASDAQ increased 6.62 points (0.09%) to 7,510.30, and the S&P 500 was up 2.07 points (0.08%) at 2,718.38. The Russell 2000 dipped 1.95 points (0.12%) to 1,643.07, and the Wilshire 5000 was up 24.06 points (0.08%) at 28,394.13.
The price of the 10-year Treasury note was down 4/32, increasing its yield to 2.854%. The price of the 30-year Treasury bond decreased 12/32, bringing its yield up to 2.985%. WEEK’S WORTH: For the week ending June 29, the Dow was down 1.26%, the NASDAQ lost 2.37%, and the S&P 500 decreased 1.33%. The Russell 2000 fell 2.52%, and the Wilshire 5000 finished 1.50% lower. | |
| Sponsored message from Vanguard | |
| The Markets Became Volatile-What Will Your Participants Do About It? Target-date funds can protect participants from impulsive reactions to market volatility.Read more > | |
| Compliance | |
| Fiduciary Responsibilities Seminar to Be Held in Miami | |
| Topics to be covered include: Understanding your plan and your responsibilities; carefully selecting and monitoring service providers; avoiding prohibited transactions; and more.Read more > | |
| IRS and DOL Asked for Better Guidance on Missing Participants | |
| The Plan Sponsor Council of America has heard concerns from its members that they have been or may be subjected to enforcement actions even though the DOL and IRS have not issued comprehensive guidance on missing participants that provide a clear roadmap for compliance.Read more > | |
| Investing | |
| The Case for Using an Institutional Approach for DC Plan Investments | |
| An institutional investment approach uses outcome-oriented investments, broad asset class diversification, best-of-breed investment management, a thoughtful mix of active and passive strategies and are vehicle agnostic, a report notes.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1776, Richard Henry Lee’s resolution that the American colonies “are, and of right ought to be, free and independent States” was adopted by the Continental Congress. In 1850, Benjamin Lane patented a gas mask with a breathing apparatus. In 1881, Charles J. Guiteau fatally wounded President James A. Garfield in Washington, D.C. In 1890, Congress passed the Sherman Antitrust Act. In 1926, Congress established the Army Air Corps. In 1937, American aviation pioneer Amelia Earhart disappeared in the Central Pacific during an attempt to fly around the world at the equator. In 1939, at Mount Rushmore, Theodore Roosevelt’s face was dedicated. In 1947, an object crashed near Roswell, New Mexico. The Air Force insisted it was a weather balloon, but eyewitness accounts led to speculation that it might have been an alien spacecraft. In 1962, Wal-Mart Discount City opened in Rogers, Arkansas. It was the first Walmart store. In 1964, President Lyndon Johnson signed the “Civil Rights Act of 1964” into law. The act made it illegal in the U.S. to discriminate against others because of their race. In 1967, the U.S. Marine Corps launched Operation Buffalo in response to the North Vietnamese Army’s efforts to seize the Marine base at Con Thien. In 1979, the U.S. Mint officially released the Susan B. Anthony coin in Rochester, New York. | |
| SURVEY SAYS RESPONSES: Obviously, I type a lot, given my job. And, I’ve noticed that some letters are either entirely or partially rubbed off. Last week, I thought it would be interesting to see what letters are most likely to be rubbed off on PC or laptop keyboards of NewsDash readers. The vast majority of responding readers (85.5%) indicated they do have letters on their keyboard that are either partially or entirely rubbed off. Among those partially rubbed off, S was by far the most common (49.1%), this was followed by L and M at 35.8% each, E at 34%, D at 28.3% and A at 22.6%. Among letters completely rubbed off, N was most likely, at 56.2%. This was followed by A (37.5%) and E (34.4%). Some of the verbatim comments readers chose to leave were funny. I had a fun time reading the comments. Several suggested that it’s not the amount of use, but other things that make letters rub off on a keyboard. Several readers listed other keys that have faded, such as the “Backspace” or “Enter” key, among others, and a couple of readers noted they have a worn out section on their space key. Editor’s Choice goes to the clever reader who wrote: “With M and N sitting right next door to each other, I get comfused if I’n looking at ny keyboard for which is which!” Thanks 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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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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