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March 26th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Sales of new single-family houses in February 2024 were at a seasonally adjusted annual rate of 662,000, the Census Bureau reported. This is 0.3% below the revised January 2024 estimate of 664,000.
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| MARKET MIRROR |
Monday, the Dow fell 162.26 points (0.41%) to close at 39,313.64, the Nasdaq fell 44.35 points (0.27%) to close at 16,384.47 and the S&P 500 fell 15.99 points (0.31%) to close at 5,218.19. The Russell 2000 rose 2.17 points (0.10%) to close at 2,074.16, and the FT Wilshire 5000 Index fell 134.70 points (0.26%) to close at 52,483.07.
The 10-year Treasury note fell 26/32, bringing the yield to 4.251%. The 30-year Treasury fell 7/32, bringing the yield to 4.420%
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RESEARCH
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We Need Your Input Regarding NQDC plans.
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PLANSPONSOR and Newport have partnered once again to survey plan sponsors with the goal of identifying nonqualified deferred compensation plan trends. The NQDC survey results will reveal the most up-to-date thoughts on nonqualified benefit plan design; the latest trends in plan investments and financing; what your peers are doing today with their NQDC plans; and more. Respond today to receive and advance copy of the survey report and other special benefits. The deadline is March 28. 
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ON THIS DATE: In 1812, in opposition to the redrawing of districts to favor incumbents in an upcoming election, the Boston Gazette published a satiric cartoon that graphically transformed the districts into an animal, “The Gerry-mander”; the term gerrymander thus entered the American lexicon. In 1827, German composer Ludwig van Beethoven died of cirrhosis of the liver at age 56. In 1874, poet Robert Frost was born in San Francisco. In 1911, the first clash of the Riel Rebellion in Canada took place in Duck Lake, Saskatchewan. The same year, dramatist Tennessee Williams was born in Columbus, Mississippi. In 1927, the Mille Miglia, the automobile race across Italy, was inaugurated. In 1930, Sandra Day O’Connor, the first woman to become a U.S. Supreme Court justice, was born in El Paso, Texas. In 1941, British evolutionary biologist Richard Dawkins was born in Nairobi, Kenya. In 1944, pop singer and actor Diana Ross was born. In 1971, members of the Awami League set up a government-in-exile in Calcutta and declared Bangladesh an independent state. In 1979, the peace treaty between Israel and Egypt, agreed to by Menachem Begin and Anwar Sadat and based on the Camp David Accords mediated by President Jimmy Carter in September 1978, was signed. In 1992, heavyweight boxing champion Mike Tyson was sentenced to six years in prison following a rape conviction in Indianapolis, Indiana. In 1997, police discovered the bodies of 39 members of Heaven’s Gate, an American religious group that believed in unidentified flying objects; they had committed suicide in the belief that a spaceship was arriving to take them to a better place. In 2000, Russian intelligence officer and politician Vladimir Putin was elected president of Russia. In 2005, sixteen years after being canceled, the BBC sci-fi series “Doctor Who” returned to television with a new episode, with Christopher Eccleston appearing in the title role. In 2011, Democratic politician Geraldine Ferraro, who was the first woman to be nominated in 1984 for vice president by a major political party in the U.S., died at age 75.
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