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| U.S. Falls Three Places in the Natixis Global Retirement Index |
| Among the 43 countries in the Natixis Global Retirement Index, the U.S. fell three places to No. 17 and achieved an overall score of 72%. U.S. retirees’ perceived quality of life decreased in 2016. While the U.S. maintained its No. 7 ranking in health, its highest ranking in the sub-indices, the U.S. ranked 30th in life expectancy, suggesting that what Americans spend on health care may not be yielding the same return on investment as in other countries.Read more > |
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| Economic Events |
| Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,215,000. This is 8.3% above the revised May estimate of 1,122,000 and is 2.1% above the June 2016 rate of 1,190,000. Single-family housing starts in June were at a rate of 849,000; this is 6.3% above the revised May figure of 799,000. The June rate for units in buildings with five units or more was 359,000. |
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| Sponsored message from Natixis |
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| Market Mirror |
Wednesday, the Dow was up 66.02 points (0.31%) at 21,640.75, the NASDAQ gained 40.74 points (0.64%) to finish at 6,385.04, and the S&P 500 increased 13.22 points (0.54%) to 2,473.83. The Russell 2000 climbed 14.16 points (0.99%) to 1,441.77, and the Wilshire 5000 closed 140.97 points (0.55%) higher at 25,728.68.
The price of the 10-year Treasury note was down 3/32, increasing its yield to 2.269%. The price of the 30-year Treasury bond was up 1/32, decreasing its yield to 2.849%. |
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| Compliance |
| Lawmakers Request Guidance for Auto-Portability of Retirement Savings |
| In a letter to Department of Labor (DOL) Secretary R. Alexander Acosta, U.S. Senator Tim Scott (R-South Carolina) and other lawmakers requested that the DOL issue an advisory opinion or other appropriate guidance regarding application of the Employee Retirement Income Security Act (ERISA) to auto-portability of retirement savings.Read more > |
| Another House Committee Considers Fiduciary Reforms |
| The Affordable Retirement Advice for Savers Act seeks to repeal the fiduciary rule and clarify what should and should not be considered fiduciary advice in the retirement planning context.Read more > |
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| Investing |
| Investor Habits Differ Across Generations |
| Nearly half of individual investors (49%) reported they have yet to reevaluate their investment approach in the midst of a shifting economic landscape, according to a recent report by The Dreyfus Corporation, a company of BNY Mellon. However, younger investors are more likely than older ones to reevaluate their investing approach and to seek professional assistance.Read more > |
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| Small Talk |
| ON THIS DATE: In 1861, the Congress of the Confederate States began holding sessions in Richmond, Virginia. In 1881, Sioux Indian leader Sitting Bull, a fugitive since the Battle of the Little Big Horn, surrendered to federal troops. In 1917, the draft lottery in World War I began. In 1942, the first detachment of the Women’s Army Auxiliary Corps, (WACS) began basic training at Fort Des Moines, Iowa. In 1944, an attempt by a group of German officials to assassinate Adolf Hitler failed. The bomb exploded at Hitler’s Rastenburg headquarters. Hitler was only wounded. In 1944, U.S. President Franklin Roosevelt was nominated for an unprecedented fourth term of office at the Democratic National Convention in Chicago. In 1969, Apollo 11 astronauts Neil Armstrong and Edwin E. Aldrin, Jr. became the first men to walk on the moon. In 1976, America’s Viking I robot spacecraft made a successful landing on Mars. |
| SURVEY SAYS: With all the ways we can get news now, newspapers are struggling to sell print editions. This week, I’d like to know, do you subscribe to the print edition of your local newspaper, and if you could only read one section, which one would it be? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > |
| Share the news with a friend! Pass the NewsDash along and tell your friend/association they can sign up for their own copy.Read more > |
