| Economic Events | In the week ending July 2, the advance figure for seasonally adjusted initial claims for unemployment insurance was 254,000, a decrease of 16,000 from the previous week’s revised level of 270,000, the Labor Department reported. The four-week moving average was 264,750, a decrease of 2,500 from the previous week’s revised average of 267,250.
The average interest rate for a 30-year fixed-rate mortgage is 3.41%, down from 3.48% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 2.74%, down from 2.78%. | | Market Mirror | Thursday, the Dow decreased 22.74 points (0.13%) to 17,895.88, the NASDAQ increased 17.65 points (0.36%) to 4,876.81, and the S&P 500 was down 2.64 points (0.13%) at 2,097.09. The Russell 2000 was up 2.42 points (0.21%) at 1,149.75, and the Wilshire 5000 closed 24.69 points (0.11%) lower at 21,698.89.
On the NYSE, 3.1 shares traded, with a slight lead for advancing issues. On the NASDAQ, 2.7 billion shares changed hands, with a 1.4 to 1 ratio of advancers to decliners.
The price of the 10-year Treasury note decreased 6/32, bringing its yield up to 1.391%. The price of the 30-year Treasury bond was down 2/32, increasing its yield to 2.142%. | | Compliance | DOL Adjusts ERISA Civil Monetary Penalties | The Department of Labor’s (DOL) has issued an interim final rule to adjust for inflation the civil monetary penalties enforceable by the agency. The interim final rule sets forth the catch-up adjustments for the penalties enforced by the various agencies in the DOL, including the Employee Benefits Security Administration (EBSA). After this initial “catch-up” adjustment, the agency will adjust its civil monetary penalties annually for inflation.Read more > | Compliance Considerations for 2017 Health Benefits Planning | In finalizing 2017 health benefit designs, contribution strategies, vendor terms, and employee communications, employers need to keep pace with the latest Affordable Care Act (ACA) requirements and other developments impacting health plans. Mercer has issued a list of top 10 compliance issues to consider.Read more > | | Investing | Brexit Causes Swing in 401(k) Participant Trading | Despite a slow start to the month, there were three days of above-normal 401(k) participant trading activity—mostly coming after the Brexit news, according to the Aon Hewitt 401(k) Index.Read more > | | Small Talk | ON THIS DATE: In 1663, King Charles II of England granted a charter to Rhode Island. In 1693, uniforms for police in New York City were authorized. In 1776, Col. John Nixon gave the first public reading of the U.S. Declaration of Independence to a crowd at Independence Square in Philadelphia. In 1795, Kent County Free School changed its name to Washington College. It was the first college to be named after U.S. President George Washington. In 1889, The Wall Street Journal was first published. In 1950, General Douglas MacArthur was named commander-in-chief of United Nations forces in Korea. In 1969, the U.S. Patent Office issued a patent for the game “Twister.”
And now it’s time for FRIDAY FILES! | Slip-n-Slides aren’t for everyone.Read more > | More useful life hacks.Read more > | In Denver, Colorado, and LaJolla, California, two ladies gave birth to their children on the same day, at the same time, in their specific time zones. What makes the story interesting is that the ladies are identical twin sisters. Today.com reports the first baby was born 1:18 a.m. Mountain time last Thursday in Denver. An hour later, the second baby was delivered 1:18 a.m. Pacific time in California.
In Berlin, Germany, a man wrote his own obituary prior to passing away. When it ran it described the man as “open, honest and unforgiving” and says his five siblings and their families are forbidden from attending his memorial service.
In Gastonia, North Carolina, a couple facing assault charges used an unusual weapon. They got into a fight at their apartment and started throwing pizza rolls at each other. The local Fox News station doesn’t say who called police, but the man faces 60 days in jail and the woman faces 30 days in jail. | What do you catch in the background of your vacation videos?Read more > | In Conestoga Township, Pennsylvania, a woman arrived home from work and found a note on her door that said: “Don’t be scared when you come in, Bob is here.” She walked in and found a man sleeping on her living room sofa. Police arrived and tried several attempts to wake the man. He was under the influence of a controlled substance and was in possession of several prescription drugs not prescribed to him, the local Fox News station reported. Investigators say the woman’s boyfriend knows the man, but not well, and had no idea the man found out where they live. The man was arrested for criminal trespass and possession of a controlled substance.
In Cleveland, Ohio, a man approached a vehicle at a gas station and attempted to rob the people inside. However, when he tried to pull a gun from his waistband, it got stuck, and he shot himself in the groin. The local NBC News station said the man was taken to the hospital and will face charges.
In Moscow, Russia, airline travelers were delayed for seven hours due to a woman’s urgent decision to get a divorce. She demanded to get off the plane. The crew tried to discourage her from leaving, but she repeated over and over, “I am not in the mood to fly now,” according to the UK’s Daily Mail. Due to safety regulations, everyone was forced to exit the plane and have their luggage security-screened again.
Have a wonderful weekend, everyone! | 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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