| | Economic Events | | THE ECONOMIC WEEK AHEAD: Tomorrow, the Conference Board will release its Consumer Confidence Index for July and the Census Bureau will report about new home sales for June. Wednesday, the Census Bureau will report about durable goods orders for June, and Thursday, the Labor Department will issue its initial claims report. | | | Market Mirror | Friday, the Dow gained 53.62 points (0.29%) to finish at 18,570.85, the NASDAQ closed 26.26 points (0.52%) higher at 5,100.16, and the S&P 500 increased 9.10 points (0.42%) to 2,174.27. The Russell 2000 was up 9.03 points (0.75%) at 1,212.88, and the Wilshire 5000 climbed 111.79 points (0.50%) to 22,536.66.
On the NYSE, 3.1 billion shares changed hands, and on the NASDAQ, 2.7 billion shares traded, with advancing issues outnumbering declining issues nearly 2 to 1 on both exchanges.
The price of the 10-year Treasury note was down 3/32, increasing its yield to 1.567%. The price of the 30-year Treasury bond was up 10/32, decreasing its yield to 2.283%.
WEEK’S WORTH: For the week ending July 22, the Dow was up 0.29%, the NASDAQ climbed 1.40%, and the S&P 500 increased 0.59%. The Russell 2000 finished 0.63% higher, and the Wilshire 5000 gained 0.66%. | | | Compliance | | Union Pension Fund Settles DOL Provider Selection Lawsuit | | The U.S. Department of Labor (DOL) has settled a lawsuit over provider selection procedures against the International Association of Machinists National Pension Fund (IAM National Pension Fund). The settlement agreement orders the fund to adopt a new selection policy and engage in a new search process.Read more > | | 6th Circuit Revives Public Pension’s Suit Against Freddie Mac | | The 6th U.S. Circuit Court of Appeals has found that the Ohio Public Employees Retirement System (OPERS) has alleged sufficient facts to support a plausible claim that the Federal Home Loan Mortgage Corporation’s (Freddie Mac’s) misleading subprime mortgage practices caused a substantial loss to the pension fund.Read more > | | | Small Talk | | ON THIS DATE: In 1805, Aaron Burr visited New Orleans with plans to establish a new country, with New Orleans as the capital city. In 1850, gold was discovered in the Rogue River in Oregon. In 1866, Ulysses S. Grant was named General of the Army. In 1868, the U.S. Congress passed an act creating the Wyoming Territory. In 1941, the U.S. government froze all Japanese and Chinese assets. In 1946, Dean Martin and Jerry Lewis staged their first show as a team at Club 500 in Atlantic City, New Jersey. In 1952, Puerto Rico became a self-governing commonwealth of the U.S. In 1978, Louise Joy Brown, the first test-tube baby, was born in Oldham, England. In 1978, Pete Rose (Cincinnati Reds) broke the National League record for consecutive base hits as he got a hit in 38 straight games. In 1984, Soviet cosmonaut Svetlana Savitskaya became the first woman to walk in space. She was aboard the orbiting space station Salyut 7. In 1999, Lance Armstrong won the Tour de France. He was only the second American to win the race. | | SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “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?” More than three-quarters (76.1%) of responding readers have engaged in a conversation at work about the Presidential candidates, while 23.9% have not. However, nearly three-quarters (74.6%) also said they have not argued about a candidate with a coworker. Nearly 6% of respondents have had an argument with a co-worker about Donald Trump, only 1.5% have had an argument about Hilary Clinton, but 17.9% have had an argument about both candidates. Though I asked for general comments about discussing politics at work, a few readers gave their opinions about one candidate or another, and many said neither are suitable. Most advocate against discussing politics at work, or at least against arguing. Editor’s Choice goes to the reader who said, “I just don’t argue with anyone about their political beliefs. Everyone is entitled to their own opinion—even if it is wrong! :-)” Thanks to everyone who participated in the survey!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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