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July 2nd, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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Benefits
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Design Options: Building Strong Retirement Plans
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Retirement plan designs that include features and investment options incorporating retirement income into defined contribution plans are a 'good starting point' but can be a ‘blunt force instrument approach.' 
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| ECONOMIC EVENTS |
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Total construction activity for May 2024 ($2,139.8 billion) was 0.1% below the revised April 2024 ($2,142.1 billion), the Census Bureau reported.
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| MARKET MIRROR |
Monday, the Dow rose 50.66 points (0.13%) to close at 39,169.52, the Nasdaq rose 146.70 points (0.83%) to close at 17,879.30 and the S&P 500 rose 14.61 points (0.27%) to close at 5,475.09. The Russell 2000 fell 17.62 points (0.86%) to close at 2,030.07, and the FT Wilshire 5000 Index rose 95.65 points (0.18%) to close at 54,566.31.
The 10-year Treasury note fell 5/32, bringing the yield to 4.467%. The 30-year Treasury bond fell 1 1/32, bringing the yield to 4.632%.
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ON THIS DATE: In 1776, after a dramatic all-night ride, Delaware delegate Caesar Rodney arrived just in time to cast the decisive vote approving the Declaration of Independence. In 1822, Denmark Vesey was hanged in Charleston, South Carolina, for planning the most extensive slave revolt in U.S. history. In 1839, a slave rebellion occurred on the ship Amistad, and in their trial the following year the mutineers, who were deemed to be kidnap victims rather than merchandise, were acquitted—a victory for American abolitionism. In 1881, President James A. Garfield was shot twice in the railroad station in Washington, D.C., by Charles J. Guiteau, a disappointed office seeker with messianic visions. Garfield died more than two months later on September 19. In 1900, the first flight of a zeppelin took place as the airship departed a floating hangar on Lake Constance near Friedrichshafen, Germany. In 1923, Polish poet Wisława Szymborska was born in Krakow. In 1925, Medgar Evers, an African American activist whose murder in 1963 received national attention and made him a martyr to the cause of the civil rights movement, was born in Decatur, Mississippi. The same year, Patrice Lumumba, the first prime minister of the Democratic Republic of the Congo, was born in Onalua, Belgian Congo. In 1932, President Franklin D. Roosevelt coined the term “New Deal” in his acceptance speech for the Democratic presidential nomination. In 1937, the airplane piloted by aviator Amelia Earhart disappeared over the central Pacific Ocean during her attempt to fly around the world. In 1962, businessman Sam Walton opened the first Walmart (then known as Wal-Mart) store, in Rogers, Arkansas; it was the start of what would become the largest retail sales chain in the U.S. In 1964, President Lyndon B. Johnson signed the Civil Rights Act. In 1979, the U.S. issued the Susan B. Anthony dollar coin, making Anthony the first woman to be depicted on U.S. currency. In 2002, adventurer Steve Fossett became the first balloonist to circumnavigate the world alone. In 2008, more than six years after being taken hostage by FARC guerrillas, Colombian politician Ingrid Betancourt was freed during a rescue mission in which army soldiers posed as international aid workers. In 2016, Romanian-born Jewish writer Elie Wiesel, winner of the 1986 Nobel Peace Prize largely for his work about the destruction of European Jewry during World War II, died at age 87 in New York City.
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