Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 8th, 2019

Self-Correcting the Inevitable Mistakes

Even the most informed and dedicated retirement plan fiduciaries sometimes miss the target. The good news is, many mistakes can be fixed.Read more >
Benefits & Administration
Nonprofits Want More Cost-Effective Alternatives to Group Health Insurance
In the meantime, many are satisfied that qualified small employer health reimbursement arrangements (QSEHRAs) meet employees’ needs.Read more >
Products, Deals and People
Retirement Industry People Moves
HealthEquity to acquire WageWorks; AIG Life and Retirement adds CEOs; CBIZ acquires investment adviser firm; and more.Read more >
MOST READ ARTICLES
1
IRS Announces 2020 Contribution and Benefit Limits
2
IRS Proposes Update to Mortality Tables Used to Calculate RMDs
3
Employees Are Making Each Other Sick
4
Maximum Benefit and Contribution Limits Table 2020
5
Congressional Leaders Want SECURE Act Passage in 2019
Investment Product and Service Launches
Buffalo Funds introduces institutional class shares; Nuveen adds to Diversified Dividend and Income Fund team; and State Street Global Advisors launches ESG money market fund.Read more >
Sponsored message from PIMCO
2019 PIMCO Defined Contribution Consulting Study
Providing retirement income potential, evaluating TDFs and plan costs, and simplifying investment menus are key.Read more >
Economic Events

New orders for manufactured durable goods in May decreased $3.3 billion or 1.3% to $243.4 billion, the U.S. Census Bureau announced. This decrease, down three of the last four months, followed a 2.8% April decrease. Excluding transportation, new orders increased 0.3 %. Excluding defense, new orders decreased 0.6%. Transportation equipment, also down three of the last four months, drove the decrease, $3.9 billion or 4.6% to $80.0 billion.

 

Total nonfarm payroll employment increased by 224,000 in June, and the unemployment rate was little changed at 3.7%, according to the Bureau of Labor Statistics. Notable job gains occurred in professional and business services, in health care, and in transportation and warehousing.

 

THE ECONOMIC WEEK AHEAD: Wednesday, the Census Bureau will report about wholesale trade for May. Thursday, the Labor Department will issue its initial claims report, and the Bureau of Labor Statistics (BLS) will reveal the consumer price index for June. Friday, the BLS will reveal the producer price index for June.
Market Mirror

Friday, the Dow lost 43.88 points (0.16%) to finish at 26,922.12, the NASDAQ decreased 8.44 points (0.10%) to 8,161.79, and the S&P 500 was down 5.41 points (0.18%) at 2,990.41. The Russell 2000 closed 3.50 points (0.22%) higher at 1,575.62, and the Wilshire 5000 closed 30.84 points (0.10%) lower at 30,763.81.

 

The price of the 10-year Treasury note decreased 30/32, bringing its yield up to 2.041%. The price of the 30-year Treasury bond fell 1 6/32, increasing its yield to 2.539%.

 

WEEK’S WORTH: For the week ending July 5, the Dow increased 1.21%, the NASDAQ climbed 1.94%, and the S&P 500 gained 1.65%. The Russell 2000 was up 0.58%, and the Wilshire 5000 increased 1.64%.
Compliance
Fidelity Argues Infrastructure Fees Are Necessary
In support of its motion to dismiss a consolidated lawsuit, Fidelity argues that it is entitled to negotiate and collect fees from providers on its FundsNetwork, and that siding with the plaintiffs would be detrimental to retirement savers.Read more >
Small Talk
ON THIS DATE: In 1663, King Charles II of England granted a charter to Rhode Island. 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 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 1963, all Cuban-owned assets in the United States were frozen. In 1969, the U.S. Patent Office issued a patent for the game “Twister.” In 1997, NATO invited Poland, Hungary, and the Czech Republic to join the alliance in 1999.
Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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