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March 18th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
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Economic Events |
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 1,421,000, the Census Bureau reported. This is 10.3% below the revised January estimate of 1,584,000 and is 9.3% below the February 2020 rate of 1,567,000. Single-family housing starts in February were at a rate of 1,040,000; this is 8.5% below the revised January figure of 1,136,000. The February rate for units in buildings with five units or more was 372,000.
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Market Mirror |
Wednesday, the Dow gained 189.42 points (0.58%) to finish at 33,015.37, the Nasdaq closed 53.64 points (0.40%) higher at 13,525.20, and the S&P 500 was up 11.41 points (0.29%) at 3,974.12. The Russell 2000 fell 23.78 points (1.01%) to 2,336.39, and the Wilshire 5000 increased 140.89 points (0.34%) to 42,154.72.
The price of the 10-year Treasury note was down 2/32, increasing its yield to 1.644%. The price of the 30-year Treasury bond decreased 30/32, bringing its yield up to 2.423%.
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ON THIS DATE: In 1766, after four months of widespread protest in America, the British Parliament repealed the Stamp Act, a taxation measure enacted to raise revenues for a standing British army in America. In 1818, Congress approved the first pensions for government service. In 1852, in New York City, Henry Wells and William G. Fargo joined with several other investors to launch American Express. Today, their namesake business is one of the world’s largest banks. In 1881, Barnum and Bailey’s Greatest Show on Earth opened in Madison Square Gardens. In 1911, Theodore Roosevelt opened the Roosevelt Dam in Arizona. It was the largest dam in the U.S. at the time. In 1949, the North Atlantic Treaty Organization (NATO) was ratified. In 1959, President Dwight Eisenhower signed the Hawaii statehood bill. In 1963, the U.S. Supreme Court handed down the Miranda decision concerning legal counsel for defendants. In 1968, Congress repealed the requirement for a gold reserve. In 1986, the Treasury Department announced that a clear, polyester thread was to be woven into bills in an effort to thwart counterfeiters.
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