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March 29th, 2021
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
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Tomorrow, the Conference Board will release its Consumer Confidence Index for March. Thursday, the Labor Department will issue its initial claims report, and the Census Bureau will report about construction spending for February. Friday, the Bureau of Labor Statistics will reveal the unemployment rate for March.
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| Market Mirror |
Friday, the Dow increased 453.40 points (1.39%) to 33,072.88, the Nasdaq was up 161.05 points (1.24%) at 13,138.73, and the S&P 500 gained 65.02 points (1.66%) to finish at 3,974.54. The Russell 2000 climbed 38.36 points (1.76%) to 2,221.48, and the Wilshire 5000 closed 652.96 points (1.59%) higher at 41,720.15.
The price of the 10-year Treasury note decreased 27/32, bringing its yield up to 1.684%. The price of the 30-year Treasury bond was down 7/32, increasing its yield to 2.390%.
For the week ending March 26, the Dow finished 1.36% higher, the Nasdaq was down 0.58%, and the S&P 500 gained 1.57%. The Russell 2000 fell 2.89%, and the Wilshire 5000 increased 0.67%.
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Data and Research
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Longstanding Savings Gaps by Race, Ethnicity Persist
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A new EBRI analysis of data taken from the Federal Reserve’s Survey of Consumer Finances underscores the persistently and perniciously unequal distribution of retirement savings in the United States. 
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Deals and People
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Retirement Industry People Moves
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Northern Trust Front Office Solutions adds new leaders; Klinefelter Wilson rejoins Groom; and The Hartford rejects acquisition offer From Chubb.
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ON THIS DATE: In 1638, the first permanent European settlement in Delaware was established. In 1848, Niagara Falls stopped flowing for one day due to an ice jam. In 1867, the British Parliament passed the North America Act to create the Dominion of Canada. In 1929, President Herbert Hoover had a phone installed at his desk in the Oval Office of the White House. In 1943, in the U.S. rationing of meat, butter and cheese began during World War II. In 1961, the 23rd amendment to the U.S. Constitution was ratified. The amendment allowed residents of Washington, D.C., to vote for president. In 1971, a jury in Los Angeles recommended the death penalty for Charles Manson and three female followers for the 1969 Tate-La Bianca murders. In 1973, two months after the signing of the Vietnam peace agreement, the last U.S. combat troops left South Vietnam as Hanoi freed the remaining American prisoners of war held in North Vietnam. In 1974, the unmanned U.S. space probe Mariner 10, launched by NASA in November 1973, became the first spacecraft to visit the planet Mercury, sending back close-up images of a celestial body usually obscured because of its proximity to the sun. In 1983, Erno Rubik was granted a patent for his Magic Cube. In 1993, Clint Eastwood won his first Oscars. He won them for best film and best director for the film “Unforgiven.”
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