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June 14th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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ECONOMIC EVENTS |
In the week ending June 8, the advance figure for seasonally adjusted initial claims was 242,000, an increase of 13,000 from the previous week’s unrevised level of 229,000, the Department of Labor reported. The four-week moving average was 227,000, an increase of 4,750 from the previous week’s unrevised average of 222,250.
Interest on a 30-year fixed-rate mortgage averaged 6.95% for the week ending June 13, down from last week when it averaged 6.99%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 6.69%. Interest on a 15-year fixed-rate mortgage averaged 6.17%, down from last week when it averaged 6.29%. A year ago at this time, the 15-year FRM averaged 6.10%.
The Producer Price Index for final demand declined 0.2% in May, the Bureau of Labor Statistics reported. Prices for final demand goods declined 0.8%, and the index for final demand services was unchanged. The index for final demand advanced 2.2% for the 12 months ended in May.
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MARKET MIRROR |
Thursday, the Dow fell 65.11 points (0.17%) to close at 38,647.10, the Nasdaq rose 59.12 points (0.34%) to close at 17,667.56 and the S&P 500 rose 12.71 points (0.23%) to close at 5,433.74. The Russell 2000 fell 18.19 points (0.88%) to close at 2,038.91, and the FT Wilshire 5000 Index rose 47.44 points (0.09%) to close at 54,198.27.
The 10-year Treasury note increased 6/32, bringing the yield to 4.250%. The 30-year Treasury bond increased 1 3/32, bringing the yield to 4.401%.
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PRODUCTS
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Product & Service Launches
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ShareBuilder waives 401(k) setup fee; Voya launches access to SecureSave; Equitable expands Endowment Solutions Platform; and more.
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ON THIS DATE: In 1811, author Harriet Beecher Stowe—whose novel “Uncle Tom’s Cabin” fueled antislavery sentiment and was cited among the causes of the Civil War—was born in Litchfield, Connecticut. In 1940, the first transport of Polish political prisoners arrived at Auschwitz, which became Nazi Germany’s largest concentration, extermination and slave labor camp, where more than one million people died. The same day, German forces entered Paris, beginning a four-year occupation of the French city. In 1963, the manned Soviet spacecraft Vostok 5 was launched, and two days later Vostok 6 was sent into orbit carrying cosmonaut Valentina V. Tereshkova, the first woman to travel in space. In 1969, German tennis player Steffi Graf, winner of 22 major singles titles, was born in Mannheim, West Germany. In 1982, the surrender of the large Argentine garrison at Port Stanley to the British military concluded the Falkland Islands War, which was fought for the control of the Falkland Islands and its dependencies—territory long disputed by the warring nations. In 2009, basketball coach Phil Jackson won a record-setting 10th NBA championship, as the Los Angeles Lakers defeated the Orlando Magic.
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