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June 13th, 2022
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 reveal the producer price index for May. Wednesday, the Census Bureau will report about retail sales for May and the business inventories for April. Thursday, Freddie Mac will report average interest on 15-year and 30-year fixed rate mortgages, the Department of Labor will report about initial claims and continuing for unemployment insurance and the Census Bureau will report new housing starts for May.
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| MARKET MIRROR |
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Friday, the Dow lost 832.31 points (2.64%) to close at 31,392.79, the Nasdaq fell 203.86 points (2.04) to 11,340.02, and the S&P lost 116.89 points (2.99%) to close at 3,900.86. The Russell 2000 lost 50.57 points (2.89%) to close at 1,800.28, and the Wilshire 5000 lost 1,191.31 points (3.06%) to close at 38,860.55.For the week ending June 10, the Dow decreased 4.58%, the Nasdaq fell 5.60%, and the S&P 500 lost 5.05%. The Russell 2000 was down 4.40%, and the Wilshire 5000 finished 5.09% lower.The price of the 10-year Treasury note decreased bringing its yield up to 3.1560%. The price of the 30-year Treasury bond decreased bringing its yield up to 3.1960%.
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In 1777, the Marquis de Lafayette arrived in the American colonies to help with their rebellion against the British. In 1805, explorer Meriwether Lewis and four other men arrived at the Great Falls of the Missouri River; Lewis and William Clark had set out on their expedition to the Pacific ocean the previous year. In 1825, Walter Hunt patented the safety pin and later sold the rights for $400. In 1866, the 14th Amendment to the U.S. Constitution was passed by the U.S. Congress and it was ratified in 1868. The amendment granted citizenship to and protected the civil liberties of former slaves. In 1888, the U.S. Congress created the Department of Labor. In 1967, Solicitor General Thurgood Marshall was nominated by President Lyndon B. Johnson to become the first black justice on the U.S. Supreme Court. In 1979, Sioux Indians were awarded $105 million in compensation for the U.S. seizure in 1877 of the Black Hills in South Dakota. In 1983, the unmanned U.S. space probe Pioneer 10 became the first spacecraft to leave the solar system. In 1994, a jury in Anchorage, Alaska, found Exxon Corp. and Captain Joseph Hazelwood to be reckless in the Exxon Valdez oil spill.
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