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March 1st, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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The Conference Board Consumer Confidence Index decreased in February for the second consecutive month. The Index now stands at 102.9, down from 106.0 in January. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased to 152.8 from 151.1 last month. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—fell further to 69.7 from a downwardly revised 76.0 in January.
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| MARKET MIRROR |
Tuesday, the Dow decreased 232.39 points (0.71%) to close at 32,656.70, the Nasdaq decreased 11.44 points (0.10%) to close at 11,455.54 and the S&P 500 lost 12.09 points (0.30%) to close at 3,970.15. The Russell 2000 gained 0.72 points (0.04%) to close at 1,896.99 and the Wilshire 5000 lost 104.71 points (0.26%) to close at 39,704.38.
The price of the 10-year Treasury note was unchanged, bringing the yield to 3.924%. The price of the 30-year Treasury bond increased 2/32, bringing the yield to 3.921%.
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ON THIS DATE: In 1692, in the Massachusetts Bay Colony, the Salem witch trials started when four women were charged with illegal practice of witchcraft. In 1781, the Articles of Confederation were ratified. The Articles were initially signed by Congress and sent to the individual states for ratification in 1777, after 16 months of debate. In 1872, Yellowstone National Park was established by Congress as the country’s—and the world’s—first national park. In 1867, Nebraska was admitted to the United States as the 37th state. In 1932, the infant son of aviator Charles A. Lindbergh was abducted from his home. Bruno Hauptmann was later convicted of the baby’s kidnapping and murder. In 1936, after five years of construction, the Hoover Dam on the Colorado River at the Arizona–Nevada border was completed. In 1961, the Peace Corps was established by President John F. Kennedy . In 2005, the Supreme Court ruled that it was unconstitutional to execute convicts who were under age 18 at the time of their crimes.
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| Industry Intel Roundup—Featured Webinars | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webinars sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. |  | | September 19, 2024 | | Financial Wellness | | Plan sponsors, advisers and policy experts will offer suggestions for how best to define and measure the financial wellness of participants and drive financial confidence. The panel will also review how they evaluate the myriad new offerings appearing as a result of the voluntary benefits provisions of SECURE 2.0. Attendees will come away with tangible metrics for determining which programs will offer the most useful and valuable programs for their employees. |
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| | | | | December 12, 2024 | | Plan Benchmarking | | How do plan sponsors determine the right goals for their plans or measure plan success? What tools are available to benchmark retirement plans? What should plans be measuring and how often? What kinds of actions or improvements can measurements drive? These questions and more will be answered in PLANSPONSOR’s final editorial webinar of 2024. |
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