Retirement Industry People Moves | Morgan Stanley adds hires to financial solutions team; The Standard promotes defined benefits director; and PCS hires VP of service.Read more > | | Sponsored message from PIMCO | Rationality and Retirement: Mutually Exclusive? | Cognitive biases may lead to suboptimal judgments. Behavioral science-based nudges may help.Read more > | | Economic Events | The combined value of distributive trade sales and manufacturers’ shipments for April, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,462.0 billion, down 0.2% from March, but up 2.8% from April 2018, the Census Bureau reported. Advance estimates of U.S. retail and food services sales for May, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $519.0 billion, an increase of 0.5% from the previous month, and 3.2% above May 2018.Total sales for the March through May period were up 3.6% from the same period a year ago. Retail trade sales were up 0.5% from April, and 3.1% above last year. Nonstore retailers were up11.4% from May2018, while sporting goods, hobby, musical instrument, and book stores were down4.2% from last year. THE ECONOMIC WEEK AHEAD: Tomorrow, the Census Bureau will report about housing starts for May. Thursday, the Depart of Labor will issue its initial claims report. Friday, the National Association of Realtors will report about existing home sales for May. | | Market Mirror | Friday, the Dow was down 17.16 points (0.07%) at 26,089.61, the NASDAQ lost 40.47 points (0.52%) to finish at 7,796.66, and the S&P 500 decreased 4.66 points (0.16%) to 2,886.98. The Russell 2000 fell 13.30 points (0.87%) to 1,522.50, and the Wilshire 5000 closed 78.83 points (0.26%) lower at 29,684.76. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 2.084%. The price of the 30-year Treasury bond increased 3/32, bringing its yield down to 2.588%. WEEK’S WORTH: For the week ending June 14, the Dow was up 0.41%, the NASDAQ climbed 0.70%, and the S&P 500 increased 0.47%. The Russell 2000 gained 0.54%, and the Wilshire 5000 finished 0.47% higher. | | From the Magazine | Out of Harm’s Way | Retirement plan data, like all online financial information today, is an alluring target for cyberattackers. What are some best practices for protecting plan data?Read more > | | Small Talk | ON THIS DATE: In 1775, the British took Bunker Hill outside of Boston. In 1856, the Republican Party opened its first national convention in Philadelphia. In 1879, Thomas Edison received an honorary degree of Doctor of Philosophy from the trustees of Rutgers College in New Brunswick, New Jersey. In 1885, the Statue of Liberty arrived in New York City aboard the French ship Isere. In 1950, Dr. Richard H. Lawler performed the first kidney transplant in a 45-minute operation in Chicago. In 1963, the U.S. Supreme Court banned the required reading of the Lord’s Prayer and Bible in public schools. | SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “What types of places do you like to go on vacation?” I also asked them to share the best vacation they’ve ever had. Beaches (74%) was the most favored type of place to go on vacation, followed by National parks, memorials or monuments (54%) and another country (52%). The mountains was a close No. 4, chosen by 48% of responding readers. The readers’ list of best vacations mirrored the rankings of favorite types of places to go, with many citing trips out of the country or to national parks. Also, it seemed a very popular way to travel was via a road trip. In verbatim comments, readers pointed out the importance of down time and lamented that people take too few vacations. A couple of readers emphasized that the people you’re with can make a vacation just as great as where you go. Several advised readers to not wait until retirement to travel. Editor’s Choice goes to the reader who said: “Life is too short not to enjoy time off from work. Make those memories now.” A big thank you to all who participated in the survey!Read more > | Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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