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Economic Events |
The Conference Board Consumer Confidence Index decreased in March, following an increase in February. The Index now stands at 127.7 (1985=100), down from 130.0 in February. The Present Situation Index decreased from 161.2 to 159.9, while the Expectations Index declined from 109.2 last month to 106.2 this month. |
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Market Mirror |
Tuesday, the Dow was down 344.89 points (1.43%) at 23,857.71, the NASDAQ fell 211.74 points (2.93%) to 7,008.81, and the S&P 500 decreased 45.93 points (1.73%) to 2,612.62. The Russell 2000 lost 30.15 points (1.95%) to finish at 1,513.57, and the Wilshire 5000 closed 497.10 points (1.80%) lower at 27,108.48. The price of the 10-year Treasury note increased 21/32, bringing its yield down to 2.780%. The price of the 30-year Treasury bond climbed 1 3/32, decreasing its yield to 3.030%. |
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Compliance |
TPA Faces Another Lawsuit for Stealing Retirement Plan Assets |
The lawsuit filed by MBA Engineering on behalf of its 401(k) and cash balance plans also accuses Vantage Benefits of stealing money from approximately 20 other retirement plans.Read more > |
Willis Towers Watson Reaches Settlement With City of Houston |
The original lawsuit alleged negligence and professional malpractice by Willis Towers Watson in its actuarial work for the city; the settlement does not constitute an admission of wrongdoing.Read more > |
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Small Talk |
ON THIS DATE: In 1797, Nathaniel Briggs patented a washing machine. In 1834, the U.S. Senate voted to censure President Andrew Jackson for the removal of federal deposits from the Bank of the United States. In 1885, the Salvation Army was officially organized in the U.S. In 1917, during World War I the Women’s Army Auxiliary Corps (WAAC) was founded. In 1921, U.S. President Warren Harding named William Howard Taft as chief justice of the United States Supreme Court. In 1963, Sonny Werblin announced that the New York Titans of the American Football League was changing its name to the New York Jets. In 1990, Jesse Owens received the Congressional Gold Medal from U.S. President George H.W. Bush. In 2010, China’s Zhejiang Geely Holding Group Co. signed a deal to buy Ford Motor Co.’s Volvo car unit. WEDNESDAY WISDOM: “It is not how old you are, but how you are old.”—Jules Renard, French author
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