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March 25th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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in-depth
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Coronavirus News for Plan Sponsors
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PLANSPONSOR has created a special page on our website with the latest coronavirus-related news about market volatility, benefits and business updates, and legislative and regulatory actions. 
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| Economic Events |
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Sales of new single-family houses in February were at a seasonally adjusted annual rate of 765,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.4% below the revised January rate of 800,000, but is 14.3% above the February 2019 estimate of 669,000.
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| Market Mirror |
Tuesday, the Dow climbed 2,112.98 points (11.37%) to 20,704.91, the NASDAQ closed 557.18 points (8.12%) higher at 7,417.86, and the S&P 500 increased 209.93 points (9.38%) to 2,447.33. The Russell 2000 was up 94.14 points (9.39%) at 1,096.54, and the Wilshire 5000 gained 2,076.71 points (9.24%) to finish at 24,541.85.
The price of the 10-year Treasury note was down 5/32, increasing its yield to 0.841%. The price of the 30-year Treasury bond decreased 32/32, bringing its yield up to 1.394%.
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ON THIS DATE: In 1634, Lord Baltimore founded the Catholic colony of Maryland. In 1901, the Mercedes was introduced by Daimler at the five-day “Week of Nice” in Nice, France. In 1911, in New York City, 146 women were killed in fire at the Triangle Shirtwaist Company in New York City. The owners of the company were later indicted on manslaughter charges because some of the employees had been behind locked doors in the factory. In 1947, John D. Rockefeller III presented a check for $8.5 million to the United Nations for the purchase of land for the site of the U.N. center. In 1954, RCA manufactured its first color TV set and began mass production. In 1957, France, West Germany, Italy, the Netherlands, Belgium and Luxembourg signed a treaty in Rome establishing the European Economic Community (EEC), also known as the Common Market. In 1966, the U.S. Supreme Court ruled that the “poll tax” was unconstitutional. In 1971, the Boston Patriots became the New England Patriots. In 1983, Congress passed legislation to rescue the U.S. Social Security system from bankruptcy.
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WEDNESDAY WISDOM: “A cloudy day is no match for a sunny disposition.”—William Arthur Ward, writer
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