| | Economic Events | | Sales of new single-family houses in February were at a seasonally adjusted annual rate of 512,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2% above the revised January rate of 502,000, but is 6.1% below the February 2015 estimate of 545,000. | | | Market Mirror | Major U.S. stock indices closed lower, led by declines in energy and mining companies as prices for oil, metals and other commodities weakened, the Associated Press reports. The Dow was down 79.98 points (0.45%) at 17,502.59, the NASDAQ lost 52.80 points (1.10%) to finish at 4,768.86, and the S&P 500 decreased 13.09 points (0.64%) to 2,036.71. The Russell 2000 fell 21.64 points (1.97%) to 1,075.69, and the Wilshire 5000 closed 163.68 points (0.78%) lower at 20,821.31.
On the NYSE, 3.1 billion shares changed hands, with declining issues outnumbering advancing issues nearly 3 to 1. On the NASDAQ, 2.7 billion shares traded, with a near 4 to 1 lead for decliners.
The price of the 10-year Treasury note increased 19/32, bringing its yield down to 1.879%. The price of the 30-year Treasury bond climbed 1 10/32, decreasing its yield to 2.658%. | | | Sponsored message from Vanguard | Risk Tolerance: From the mind of the TDF investor
Edward Dinucci, William Lee Norton, Michael Pan, and John Croke This paper presents key findings from Vanguard’s target-date fund investor survey. The analysis focuses on investor’s risk tolerance.Read more > | | | Compliance | | Defunct Company Plan Owes Nearly $1M to Participants | | The company ceased all business operations in 2009, but failed to take the appropriate steps to terminate its 401(k) plan.Read more > | | Actuarial Equivalence Key in Benefits Calculation Case | | A federal appellate court found that the benefit offset used by a defined benefit plan administrator was correct.Read more > | | Lehman Again Granted Victory in Stock Drop Suit | | Reviewing the case in light of new pleading standards set by the Supreme Court decision in Fifth Third v. Dudenhoeffer, a court again found participants in a Lehman Brothers retirement plan did not prove a fiduciary breach.Read more > | | | Small Talk | | ON THIS DATE: In 1664, a charter to colonize Rhode Island was granted to Roger Williams in London. In 1765, Britain passed the Quartering Act that required the American colonies to house 10,000 British troops in public and private buildings. In 1868, Metropolitan Life Insurance Company was formed. In 1900, in New Jersey, the Carnegie Steel Corporation was formed. In 1920, the first U.S. Coast Guard Air Station was established at Morehead City, North Carolina. In 1947, the U.S. Congress proposed the limitation of the presidency to two terms. In 1955, Tennessee Williams’ play “Cat on a Hot Tin Roof” debuted on Broadway. In 1980, “Nightline” with Ted Koppel premiered. In 1989, the Exxon Valdez spilled 240,000 barrels (11 million gallons) of oil in Alaska’s Prince William Sound after it ran aground. In 1995, the U.S. House of Representatives passed a welfare reform package that made the most changes in social programs since the New Deal. In 2005, Sandra Bullock received a star on the Hollywood Walk of Fame. | | SURVEY SAYS: This Sunday is Easter. This week, I’d like to know, does your company offer a paid holiday for Easter, and do you think companies should offer a paid holiday for Easter? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | | Share the good 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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