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July 22nd, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the National Association of Realtors will report existing-home sales for June. Wednesday, the Census Bureau will report new home sales data for July. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week.
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| MARKET MIRROR |
Friday, the Dow fell 377.49 points (0.93%) to close at 40,287.53, the Nasdaq fell 144.28 points (0.81%) to close at 17,726.94 and the S&P 500 fell 39.59 points (0.71%) to close at 5,505.00. The Russell 2000 fell 13.94 points (0.63%) to close at 2,184.35, and the FT Wilshire 5000 Index fell 358.53 points (0.65%) to close at 55,135.88.
The 10-year Treasury note decreased 3/32, bringing the yield to 4.242%. The 30-year Treasury bond decreased 26/32, bringing the yield to 4.449%.
For the week ending July 19, the Dow rose 0.72%, the Nasdaq fell 3.65% and the S&P 500 fell 1.97%. The Russell 2000 rose 1.68%, and the FT Wilshire 5000 Index finished 1.69% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Hawley to lead Nationwide Annuity; Rich takes over as CEO of Mutual of America; Holgate takes senior retirement team role at Transamerica; and more. 
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ON THIS DATE: In 1587, a second English colony was established on Roanoke Island off North Carolina. The colony vanished under mysterious circumstances. In 1796, Cleveland was founded by General Moses Cleaveland. In 1798, the USS Constitution was underway and out to sea for the first time since being launched on October 21, 1797. In 1812, English troops under the Duke of Wellington defeated the French at the Battle of Salamanca in Spain. In 1926, Babe Ruth caught a baseball at Mitchell Field in New York. The ball had been dropped from an airplane flying at 250 feet. In 1937, the U.S. Senate rejected President Roosevelt’s proposal to add more justices to the Supreme Court. In 2003, in northern Iraq, Saddam Hussein’s sons Odai and Qusai died after a gunfight with U.S. forces. In 2004, the September 11 commission’s final report was released. The 575-page report concluded that hijackers exploited “deep institutional failings within our government.” The report had been released to White House officials the day before. In 2009, the longest total solar eclipse of the 21st century, lasting up to 6 minutes and 38.8 seconds, occurred over parts of Asia and the Pacific Ocean.
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