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July 29th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Conference Board will report the Consumer Confidence Index 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. Friday, the Bureau of Labor Statistics will release the U.S. employment report for July.
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| MARKET MIRROR |
Friday, the Dow rose 654.27 points (1.64%) to close at 40,589.34, the Nasdaq rose 176.16 points (1.03%) to close at 17,357.88 and the S&P 500 rose 59.88 points (1.11%) to close at 5,459.10.
The Russell 2000 rose 37.09 points (1.67%) to close at 2,260.07, and the FT Wilshire 5000 Index rose 625.16 points (1.15%) to close at 54,853.37.
The 10-year Treasury note increased 4/32, bringing the yield to 4.200%. The 30-year Treasury bond increased 5/32, bringing the yield to 4.454%.
In the week ending July 26, the Dow rose 0.57%, the Nasdaq fell 2.08% and the S&P 500 fell 0.83%. The Russell 2000 rose 3.47%, and the FT Wilshire 5000 Index finished 0.51% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Nationwide adds new leaders to its emerging markets team; Group Plan Systems hires a TPA expert; SEI names a new executive vice president; and more. 
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SPECIAL COVERAGE
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DC Plan Design
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A review of how plan sponsors can use defined contribution plan design to help participants meet retirement goals.
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ON THIS DATE: In 1872, Nathaniel P. Langford and James Stevenson made the first ascent of Grand Teton, the highest peak of the Teton Range in Wyoming. In 1890, Dutch painter Vincent van Gogh, one of the greatest Post-Impressionists, died in Auvers-sur-Oise, France. In 1913, Albania was formally recognized by the major European powers as an independent principality following the issuance of the Vlore proclamation. In 1955, the first part of J.R.R. Tolkien’s fantasy epic “The Lord of the Rings” was published. In 1957, the International Atomic Energy Agency was created. In 1958, President Dwight D. Eisenhower signed legislation that created NASA after he was criticized for allowing the Soviet Union to launch the first man-made satellite to orbit Earth. In 1981, Prince Charles and Lady Diana Spencer were married in St. Paul’s Cathedral in London. In 2005, planetary scientists formally announced the discovery of what was believed to be the tenth planet; it was later designated a dwarf planet and given the name Eris.
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