|
June 24th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
Existing-home sales slipped 0.7% in May to a seasonally adjusted annual rate of 4.11 million, the National Association of Realtors reported. Sales descended 2.8% from one year ago. The median existing-home sales price jumped 5.8% from May 2023 to $419,300—the highest price ever recorded and the eleventh consecutive month of year-over-year price gains. The inventory of unsold existing homes grew 6.7% from the previous month to 1.28 million at the end of May, or the equivalent of 3.7 months’ supply at the current monthly sales pace.
Tuesday, the Conference Board will report the Consumer Confidence Index for May. Wednesday, the Census Bureau will report new home sales for May. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week.
|
|
|
|
| MARKET MIRROR |
Friday, the Dow rose 15.57 points (0.04%) to close at 39,150.33, the Nasdaq fell 32.23 points (0.18%) to close at 17,689.36 and the S&P 500 fell 8.55 points (0.16%) to close at 5,464.62. The Russell 2000 rose 4.64 points (0.23%) to close at 2,022.03, and the FT Wilshire 5000 Index fell 61.41 points (0.11%) to close at 54,432.47.
The 10-year Treasury note was unchanged, bringing the yield to 4.260%. The 30-year Treasury bond was unchanged, bringing the yield to 4.399%.
For the week ending June 21, the Dow rose 1.45%, the Nasdaq was unchanged and the S&P 500 rose 0.61%. The Russell 2000 rose 0.79% and the FT Wilshire 5000 Index ended 0.61% higher.
|
|
|
|
|
|
DEALS AND PEOPLE
|
|
Retirement Industry People Moves
|
Empower hires Boston broadcaster to new role and appoints head of retirement plans segment; alternatives asset manager hires Samantha DeZur; and more. 
|
|
|
|
|
ON THIS DATE: In 1795, William Smellie, the Scottish compiler of the first edition of the Encyclopedia Britannica, died at age 55, in Edinburgh. In 1812, French Emperor Napoleon led 600,000 troops of his Grand Army in an invasion of Russia. In 1821, South American patriots under Simón Bolívar defeated Spanish royalists on the plains near Caracas, Venezuela, in the Battle of Carabobo. In 1859, the Battle of Solferino, the last engagement of the second War of Italian Independence, was fought in Lombardy. In 1932, the Promoters Revolution, a bloodless coup, overthrew Prajadhipok, the king of Thailand, ending the absolute monarchy in that country and initiating the so-called Constitutional Era. In 1947, businessperson Kenneth Arnold saw a number of objects “flying like saucers” while piloting a small plane over Mount Rainier in Washington; it was considered the first modern sighting of UFOs and gave rise to the term flying saucer. In 1948, the Berlin blockade intensified when the Soviet Union announced that the Western Allied powers no longer had any rights in Berlin. In 1987, Lionel Messi was born in Rosario, Argentina. In 2010, Australian politician Julia Gillard was sworn in as Australia’s first female prime minister. In 2022, the Supreme Court decided the case Dobbs v. Jackson Women’s Health Organization, overturning nearly 50 years of settled precedent, Roe v. Wade, which was decided by the court in 1973. In overturning precedent the court’s ruling culminated efforts by the court’s conservative majority, appointed by President Donald Trump, to end the constitutional right to an abortion in the U.S.
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
Copyright ©2025 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
|
|
702 King Farm Boulevard, Suite 300, Rockville, MD 20850
|
|
|
