| | Economic Events | | New orders for manufactured durable goods in April, down following four consecutive monthly increases, decreased $1.8 billion or 0.8% to $231.0 billion, down from the previously published 0.7% decrease, the Census Bureau reported. This followed a 2.4% March increase. Transportation equipment, down following two consecutive monthly increases, led the decrease, $1.1 billion or 1.4% to $78.4 billion. New orders for manufactured nondurable goods increased $1.0 billion or 0.4% to $238.0 billion. | | | Market Mirror | Yesterday, the Dow closed 22.25 points (0.10%) lower at 21,184.04, the NASDAQ decreased 10.11 points (0.16%) to 6,295.68, and the S&P 500 was down 2.97 points (0.12%) at 2,436.10. The Russell 2000 gained 14.21 points (1.03%) to finish at 1,396.45, and the Wilshire 5000 lost 23.22 points (0.09%) to finish at 25,322.05.
The price of the 10-year Treasury note was down 6/32, increasing its yield to 2.181%. The price of the 30-year Treasury bond decreased 18/32, bringing its yield up to 2.838%. | | | Sponsored message from Pacific Life | New Economic Policies – Opportunities for Defined Benefit Plans?
This article examines how President Trump’s anticipated economic changes might provide opportunities for plan sponsors. It also presents strategies that an insurance company offers to make the most of these changes.Read more > | | | Compliance | | Supreme Court Offers Interpretation of Definition of Church Plan | | Looking at the definition of “church plan” in the Employee Retirement Income Security Act (ERISA), the high court concluded that a plan maintained by a principal-purpose organization qualifies as a “church plan,” regardless of who established it.Read more > | | Chevron Wins Dismissal of Amended Complaint Regarding Fund Choices | | For the second time, Chevron Corporation has won dismissal of a lawsuit alleging it caused participants to pay excessive fees due to its choices of funds offered in its 401(k) plan. A federal judge found plaintiffs failed to correct deficiencies in their original complaint, and a new claim of conflicts-of-interest was unsupported by facts.Read more > | | | From the Magazine | | Custom Messaging for the Masses | | Recordkeepers have joined the digital marketing trend so successful for the likes of Amazon and are using personalized data to more effectively engage consumers. In this case, the goal is to sell 401(k) participants on the benefits of saving more for retirement.Read more > | | | Small Talk | | ON THIS DATE: In 1833, Andrew Jackson became the first U.S. president to ride in a train. It was a B&O passenger train. In 1844, the Young Men’s Christian Association (YMCA) was founded in London. In 1882, the first electric iron was patented by H.W. Seely. In 1925, Chrysler Corporation was founded by Walter Percy Chrysler. In 1932, in the U.S., the first federal tax on gasoline went into effect. It was a penny per gallon. In 1933, in Camden, New Jersey, the first drive-in movie theater opened. In 1934, U.S. President Franklin Roosevelt signed the Securities Exchange Act, which established the Securities and Exchange Commission (SEC). In 1942, Japanese forces retreated in the World War II Battle of Midway. In 1944, the D-Day invasion of Europe took place on the beaches of Normandy, France. Four-hundred thousand allied American, British and Canadian troops were involved. In 1946, the Basketball Association of America was formed in New York City. In 1968, U.S. Senator Robert F. Kennedy died at 1:44am in Los Angeles after being shot by Sirhan Sirhan the evening before while campaigning for the Democratic presidential nomination. In 1971, “The Ed Sullivan Show” aired for the last time. It was canceled after 23 years on the air. In 1978, “20/20” debuted on ABC. | | TRIVIAL PURSUITS: Where was the first European Colony settled in New England?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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