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401(k) Traders Active but Cautious
401(k) Traders Active but Cautious
The latest data from Alight Solutions shows 12 above-normal trading days in May.
Retirement Industry People Moves
TIAA appoints chief institutional client officer, and Wilshire enhances investment capabilities with new senior vice president.
Most Read
Bills to Nullify the Retirement Security Rule Proposed in Congress
Dealing with Stress, Burnout in the HR, Benefits Department
Deals and People
BlackRock’s Retirement Head Ackerley Moving to Adviser Role
Total nonfarm payroll employment rose by 390,000 in May, and the unemployment rate remained at 3.6%, according to the Bureau of Labor Statistics. Notable job gains occurred in leisure and hospitality, in professional and business services, and in transportation and warehousing. Employment in retail trade declined.

Wednesday, the Census  Bureau will report about the sales of merchant wholesalers for April. Thursday, the Department of Labor will reveal weekly initial claims for unemployment insurance, and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor Statistics will report the consumer price index for May.
Friday, the Dow dropped 348.58 points (1.05%) to close at 32,899.70, the Nasdaq was down 304.16 points (2.47%) at 12,012.73, and the S&P 500 lost 68.28 points (1.63%) to finish at 4,108.54. The Russell 2000 fell 14.62 points (0.77%) to 1,883.05, and the Wilshire 5000 dropped 672.49 points (1.62%) to 40,945.41.

The price of the 10-year Treasury note decreased 2/32, bringing its yield up to 2.940%. The price of the 30-year Treasury bond decreased 3/32, bring its yield up t0 3.095%.

For the week ending June 3, the Dow declined 0.94%, the Nasdaq lost 0.98%, and the S&P 500 was down 1.20%. The Russell 2000 lost 0.25%, and the Wilshire 5000 fell 1.08%.
Missing 401(k) Contributions Must Be Restored, Court Rules
More than $150,000 ordered paid to a Maryland company's retirement plan; company and owner barred from any future ERISA fiduciary roles.
Retirement Plan Provider Sues DOL in 401(k) Cryptocurrency Row
A retirement plan provider that championed cryptocurrency for 401(k) plans has brought a lawsuit against the Department of Labor for dismissing cryptocurrency as a reasonable investment for retirement plans.
ON THIS DATE: In 1683, The Ashmolean, the world’s first university museum, opened in Oxford, England. In 1833, in Ellicott’s Mills, Maryland, President Andrew Jackson boarded a Baltimore & Ohio Railroad train for a pleasure trip to Baltimore. Jackson, who had never been on a train before, was the first president to take a ride on the “Iron Horse,” as locomotives were known. In 1925, the Chrysler Corporation was founded by Walter Percy Chrysler. In 1934, President Franklin Roosevelt signed the Securities Exchange Act, which established the Securities and Exchange Commission. In 1944, Supreme Allied Commander General Dwight D. Eisenhower gave the go-ahead for the largest amphibious military operation in history: Operation Overlord, the Allied invasion of northern France, commonly known as D-Day. In 1971, “The Ed Sullivan Show” aired for the last time. In 1978, “20/20” debuted on ABC. In 2013, Americans learned that their government was spying broadly on its own people. That’s when The Guardian and The Washington Post published the first of a series of reports put together from documents leaked by an anonymous source. The material exposed a government-run surveillance program that monitored the communications records of not just criminals or potential terrorists, but law-abiding citizens as well.
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