| | Market Mirror | Wednesday, the Dow was down 133.17 points (0.52%) at 25,673.46, the NASDAQ lost 70.44 points (0.93%) to finish at 7,505.92, and the S&P 500 decreased 18.20 points (0.65%) to 2,771.45. The Russell 2000 fell 31.46 points (2.01%) to 1,536.82, and the Wilshire 5000 closed 236.48 points (0.82%) lower at 28,686.63. The price of the 10-year Treasury note was up 9/32, decreasing its yield to 2.686%. The price of the 30-year Treasury bond increased 11/32, bringing its yield down to 3.067%. | | | From the Magazine | | PS Coach: Roth Conversions | | A Roth conversion takes defined contribution (DC) retirement account assets that have been saved on a pre-tax basis and converts them into Roth dollars; these are taxable that year. Before adopting this feature, plan sponsors should run an overall operational analysis, plus a “test” to determine the impact of Roth on deferrals being made to the plan, experts say. Because of Roth’s complexity, experts suggest participants receive comprehensive education, plus individual advice, about the accounts and conversion.Read more > | | | Products, Deals and People | | Gradifi Adds Financial Wellness Education to Offering | | The firm has partnered with EVERFI so employers can address employees’ student loan and financial wellness needs.Read more > | | | Small Talk | | ON THIS DATE: In 322 BC, Aristotle, the Greek philosopher, died. In 1774, the British closed the port of Boston to all commerce. In 1854, Charles Miller received a patent for the sewing machine. In 1876, Alexander Graham Bell received a patent (U.S. Patent No. 174,465) for his telephone. In 1933, the board game Monopoly was invented. In 1955, Phyllis Diller made her debut at the Purple Onion in San Francisco. In 1965, state troopers and a sheriff’s posse broke up a march by civil rights demonstrators in Selma, Alabama. In 1968, the Battle of Saigon came to an end. In 1975, the Senate revised the filibuster rule. The new rule allowed 60 senators to limit debate instead of the previous two-thirds. In 1994, the U.S. Supreme Court ruled that parodies that poke fun at an original work can be considered “fair use” that does not require permission from the copyright holder. | | SURVEY SAYS: The great need for financial wellness education in the workplace suggests individuals did not get this information from school or home, but I doubt that is true for everyone. This week, I’d like to know, who taught you about financial matters? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | | Share the 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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