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| Economic Events |
| Existing-home sales fell back for the second straight month in May, as only the Northeast region saw an uptick in activity, according to the National Association of Realtors. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 0.4% to a seasonally adjusted annual rate of 5.43 million in May from downwardly revised 5.45 million in April. With last month’s decline, sales are now 3.0% below a year ago and have fallen year-over-year for three straight months. |
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| Market Mirror |
Wednesday, the Dow was down 42.41 points (0.17%) at 24,657.80, the NASDAQ gained 55.93 points (0.72%) to finish at 7,781.52, and the S&P 500 was up 4.73 points (0.17%) at 2,767.32. The Russell 2000 climbed 13.54 points (0.80%) to 1,706.99, and the Wilshire 5000 increased 78.41 points (0.27%) to 29,024.90. The price of the 10-year Treasury note decreased 10/32, bringing its yield up to 2.935%. The price of the 30-year Treasury bond fell 25/32, increasing its yield to 3.073%. |
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| Compliance |
| DOL Finalizes Regulations to Extend Small Business Access to Health Plans |
| The Department of Labor (DOL) has finalized regulations to expand the opportunity to offer employment-based health insurance to small businesses through Small Business Health Plans, also known as Association Health Plans (AHPs). While some employer groups have applauded the regulation for helping more employees gain access to health care coverage, other groups have expressed fear that it will increase pricing on Affordable Care Act (ACA) market exchanges by taking a number of consumers out of the pool. New York Attorney General Barbara D. Underwood and Massachusetts Attorney General Maura Healey announced they would sue the Trump administration over the regulation.Read more > |
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| Investing |
| PSNC 2018: Investment Lineup Construction and Design |
| There are a number of investment vehicles to consider when drafting a plan menu that best suits the plan’s participants.Read more > |
| DC Plan Participants Largely Stuck With Investments in May |
| The Alight Solutions 401(k) Index shows that in May, a mere 0.14% of defined contribution (DC) plan balances were traded. On average, 0.014% of balances were traded each day. There were 13 days favoring fixed income, representing 59% of the trades, and nine days favoring equities, representing 41% of the trades. There was only one day when trades were above normal.Read more > |
| 401(k) Participants Tend to Hold Lower Cost Mutual Funds |
| The expense ratios 401(k) plan participants incur for investing in mutual funds have declined substantially since 2000, Investment Company Institute data shows.Read more > |
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| Small Talk |
| ON THIS DATE: In 1788, the U.S. Constitution went into effect when New Hampshire became the ninth state to ratify it. In 1834, Cyrus McCormick patented the first practical mechanical reaper for farming. His invention allowed farmers to more than double their crop size. In 1893, the Ferris Wheel was introduced at the World’s Columbian Exposition in Chicago. In 1939, Lou Gehrig quit baseball due to illness. In 1945, Pan Am announced an 88-hour round-the-world flight at a cost of $700. In 2004, SpaceShipOne, designed by Burt Rutan and piloted by Mike Melvill, reached 328,491 feet above Earth in a 90 minute flight. The height is about 400 feet above the distance scientists consider to be the boundary of space. |
| SURVEY SAYS: My eldest son works four 10-hour days rather than five 8-hour days per week. While the long days can be exhausting and not leave time for much else, it provides him with three days off and one during the week to schedule appointments so as not to miss work. This week, I’d like to know, would you rather work five 8-hour days or four 10-hour days? You may respond to this week’s survey by 6 p.m. Pacific time today.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 > |
