| | Empower Retirement has developed a retirement planning application for the Apple Watch. The app shows users their balances, the percentage of savings they have amassed toward their retirement goal and their projected retirement income.Read more > | | | Market Mirror | Wednesday, the Dow closed 36.02 points (0.19%) higher at 18,595.03, the NADASQ gained 53.56 points (1.06%) to finish at 5,089.93, and the S&P 500 was up 9.24 points (0.43%) at 2,173.02. The Russell 2000 increased 9.30 points (0.77%) to 1,209.74, and the Wilshire 5000 climbed 113.68 points (0.51%) to 22,516.08.
On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ 2.7 billion shares traded, with a 2 to 1 lead for advancing issues on both exchanges.
The price of the 10-year Treasury note was down 7/32, increasing its yield to 1.579%. The price of the 30-year Treasury bond decreased 23/32, bringing its yield up to 2.302%. | | | Compliance | | Target Hit With a Second Stock-Drop Challenge | | The text of a new lawsuit accusing the Target Corporation of violating ERISA in the management of its employee stock ownership plan (ESOP) shows the ripple effects of the Supreme Court’s 2014 decision in Fifth Third Bancorp v. Dudenhoeffer are still very much in play. Close readers of PLANSPONSOR.com will notice this is actually the second such case to be filed against Target in just a matter of days.Read more > | | Another Small Plan Targeted in Excessive Fee Suit | | Checksmart and its investment adviser, Cetera Advisor Networks, have been specifically targeted over fees of risk-based asset allocation funds in Checksmart’s 401(k) plan.Read more > | | | Industry Voices | | Women and Retirement Risk: What Should Plan Sponsors Know? | | Anna M. Rappaport, FSA, MAAA, a fellow of the Society of Actuaries (SOA) and member of the American Academy of Actuaries, suggests actions to help women better prepare for retirement.Read more > | | | Investing | | Monthly long-term investment fund flow data from Strategic Insight, an Asset International company, shows net new investments to long-term mutual funds and exchange-traded funds (ETFs) totaled $17 billion in June. Index mutual funds and ETFs collected a net $45.8 billion during the month, SI finds, while net outflows from long-term active funds totaled $28.8 billion.Read more > | | | Small Talk | | ON THIS DATE: In 1733, John Winthrop was granted the first honorary Doctor of Law Degree given by Harvard College in Cambridge, Massachusetts. In 1861, the first major battle of the U.S. Civil War began. It was the Battle of Bull Run at Manassas Junction, Virginia. The Confederates won the battle. In 1925, the “Monkey Trial” ended in Dayton, Tennessee. John T. Scopes was convicted and fined $100 for violating the state prohibition on teaching Darwin’s theory of evolution. The conviction was later overturned on a legal technicality because the judge had set the fine instead of the jury. In 1930, the Veterans Administration of the United States was established. In 1949, the U.S. Senate ratified the North Atlantic Treaty. In 1957, Althea Gibson became the first black woman to win a major U.S. tennis title when she won the Women’s National clay-court singles competition. In 1980, draft registration began in the United States for 19- and 20-year-old men. In 2002, WorldCom Inc. filed for Chapter 11 bankruptcy protection. At the time it was the largest bankruptcy in U.S. history. In 2004, White House officials were briefed on the September 11 commission’s final report. The 575-page report concluded that hijackers exploited “deep institutional failings within our government.” The report was released to the public the next day. In 2011, Space Shuttle Atlantis landed at Kennedy Space Center in Florida. It was the last flight of NASA’s space shuttle program. | | SURVEY SAYS: This Presidential election season has been rife with controversy. We recently covered a survey that revealed three in 10 employers and 17% of employees have argued with a co-worker over a particular candidate this election season. This week, I’d like to know, have you engaged in conversations at work about the Presidential candidates, and have you had an argument with a co-worker about a specific candidate? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | | Share the good 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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