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June 16th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Advance estimates of U.S. retail and food services sales for May 2022, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $672.9 billion, a decrease of 0.3% from the previous month, but 8.1% above May 2021, the Census Bureau reported. Total sales for the March 2022 through May 2022 period were up 7.7% from the same period a year ago. Retail trade sales were down 0.4% from April 2022, but up 6.9% above last year. Gasoline stations were up 43.2% from May 2021, while food services and drinking places were up 17.5% from last year.
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| MARKET MIRROR |
Wednesday, the Dow gained 303.70 points (1.00%) to 30,668.53, the Nasdaq was up 270.81 points (2.50%) to close at 11,099.16, and the S&P 500 increased 54.51 points (1.46%) to 3,789.94. The Russell 2000 gained 23.31 points (1.36%) to 1,731.14, and the Wilshire 5000 increased 574.58 points (1.55%) to 37,619.23.
The price of the 10-year Treasury note increased 1 25/32 bringing its yield down to 3.316%. The price of the 30-year Treasury bond gained 1 30/32 bringing its yield down to 3.329%.
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ON THIS DATE: In 1858, newly nominated senatorial candidate Abraham Lincoln addressed the Illinois Republican Convention in Springfield and warned that the nation faced a crisis that could destroy the Union. In 1884, the first roller coaster in America opened at Coney Island, in Brooklyn, New York. In 1903, the Ford Motor Company was incorporated in Detroit, Michigan. In 1922, Henry Berliner made the first helicopter flight at College Park, Maryland. In 1941, President Franklin D. Roosevelt ordered the closure of all German consulates in the United States. In 1963, aboard Vostok 6, Soviet Cosmonaut Valentina Tereshkova became the first woman to travel into space. In 1976, in Soweto township, South Africa, thousands of school children revolted against the South African government’s plan to enforce Afrikaans as the language for instruction in black schools. In 1996, Russia held the country’s first independent presidential election. In 2017, Amazon announced plans to buy Whole Foods for $13.7 billion.
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