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June 12th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Bureau of Labor Statistics will report the Consumer Price Index for May. Wednesday, the Bureau of Labor Statistics will report the Producer Price Index for May. Thursday, the Department of Labor will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the Census Burau will report retail sales for May and U.S. total business end-of-month inventories for April.
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| MARKET MIRROR |
Friday, the Dow rose 43.17 points (0.13%) to close at 33,876.78, the Nasdaq rose 20.62 points (0.16%) to close at 13,259.14 and the S&P 500 gained 4.93 points (0.11%) to close at 4,298.86. The Russell 2000 fell 15.07 points (0.80%) to close at 1,865.71, and the FT Wilshire 5000 Index rose 10.01 points (0.02%) to close at 43,402.26.
The price of the 10-year Treasury note fell 24/32, bringing the yield to 3.742%. The price of the 30-year Treasury bond rose 1/32, bringing the yield to 3.884%.
For the week ending June 9, the Dow rose 0.34%, the Nasdaq rose 0.14% and the S&P 500 rose 0.39%. The Russell 2000 rose 1.86%, and the FT Wilshire 5000 Index finished 3.21% higher.
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EVENTS
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2023 PS Plan Progress Webinar Series: Provider Due Diligence
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Join PLANSPONSOR June 15, for a discussion about the changing provider landscape, what factors need to be considered in the selection and monitoring of service providers and plan advisers and tools that can be used both for searches and to document that sponsors have met their fiduciary duty. 
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ON THIS DATE: In 1776, the constitutional convention of the colony of Virginia adopted the Virginia Declaration of Rights, a model for the Bill of Rights later added to the U.S. Constitution. In 1898, the Philippines, under revolutionary leader Emilio Aguinaldo, declared its independence from Spain. In 1939, the Baseball Hall of Fame in Cooperstown, New York, held its first induction ceremony; Babe Ruth, Ty Cobb, and Honus Wagner were among the inaugural class, which had been elected three years earlier. In 1963, civil rights activist Medgar Evers was fatally shot outside his home in Jackson, Mississippi; his murder received national attention and helped galvanize the movement. In 1967, in Loving v. Virginia the U.S. Supreme Court unanimously struck down a state law that banned interracial marriage, ruling that it was unconstitutional under the equal protection and due process clauses of the Fourteenth Amendment. In 1987, speaking about the Berlin Wall as he stood at the Brandenburg Gate in Berlin, President Ronald Reagan entreated the Soviet leader, “Mr. Gorbachev, tear down this wall.” In 1991, Boris Yeltsin was elected president of Russia (then part of the Soviet Union) in the republic’s first direct, popular elections. In 2016, the deadliest mass shooting in U.S. history up to that time occurred when Omar Mateen opened fire at Pulse, an LGBTQ nightclub in Orlando, Florida, killing 49 people and wounding more than 50.
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