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June 10th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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PRODUTCS
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Investment Product and Service Launches
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Putnam Investments to launch five new investment strategies; Nationwide adds two new death benefit features; and Broadridge launches multi-account collective investment trust fund. 
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| ECONIMIC EVENTS |
Interest on a 30-year fixed-rate mortgage averaged 5.23% as of June 9, up from last week when it averaged 5.09%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.96%. Interest on a 15-year fixed-rate mortgage averaged 4.38%, up from last week when it averaged 4.32%. A year ago at this time, the 15-year FRM averaged 2.23%.
In the week ending June 4, the advance figure for seasonally adjusted initial claims for unemployment insurance was 229,000, an increase of 27,000 from the previous week’s revised level of 202,000, the Labor Department reported. The four-week moving average was 215,000, an increase of 8,000 from the previous week’s revised average of 207,000.
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| MARKET MIRROR |
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Thursday, the Dow dropped 638.11 points (1.94%) to close at 32,272.79, the Nasdaq was down 332.05 points (2.75%) to 11,754.23, and the S&P 500 decreased 97.95 points (2.38%) to 4.017.82. The Russell 2000 fell 40.15 points (2.12%) to 1,850.86, and the Wilshire 5000 dropped 997.81 points (2.43%) to 40,051.87.
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ON THIS DATE: In 1692, in Salem Village in the Massachusetts Bay Colony, Bridget Bishop, the first colonist to be tried in the Salem witch trials, was hanged after being found guilty of the practice of witchcraft. In 1752, Benjamin Franklin was said to have flown a kite during a thunderstorm to collect ambient electrical charge in a Leyden jar, enabling him to demonstrate the connection between lightning and electricity. In 1776, the Continental Congress appointed a committee to write a Declaration of Independence. In 1854, the U.S. Naval Academy in Annapolis, Maryland, held its first graduation. In 1935, in Akron, Ohio, Bill Wilson and Dr. Robert Smith, two recovering alcoholics, founded Alcoholics Anonymous (A.A.), a 12-step rehabilitation program that eventually helped countless people cope with alcoholism. In 1948, Chuck Yeager exceeded the speed of sound in the Bell XS-1. In 1954, General Motors announced the gas turbine bus had been produced successfully. In 1983, Johnny Bench announced his plans to retire. He was a catcher in the major leagues for 16 years. In 2015, the movie Jurassic World opened in 60 countries. It became the first movie to make $500 million its opening weekend.
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