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May 16th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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In April, the Consumer Price Index for all urban consumers increased 0.3%, seasonally adjusted, and rose 3.4% over the last 12 months, not seasonally adjusted, the Bureau of Labor Statistics reported. The index for all items less food and energy increased 0.3%in April; up 3.6% over the year.
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| MARKET MIRROR |
Wednesday, the Dow rose 349.89 points (0.88%) to close at 39,908.00, the Nasdaq rose 231.21 points (1.40%) to close at 16,742.39 and the S&P 500 rose 61.47 points (1.17%) to close at 5,308.15. The Russell 2000 rose 23.77 points (1.14%) to close at 2,109.46, and the FT Wilshire 5000 Index rose 614.55. points (1.17%) to close at 53,365.30.
The 10-year Treasury note rose 30/32, bringing the yield to 4.347%. The 30-year Treasury bond rose 1 4/32, bringing the yield to 4.506%
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ON THIS DATE: In 1801, politician William H. Seward—perhaps best known for his purchase of Alaska, in 1867 while serving as U.S. secretary of state from 1861 to 1869—was born in Florida, New York. In 1866, Congress passed legislation that called for the creation of a five-cent piece composed of nickel and copper; the currency became known as the nickel. In 1868, the first of two key votes was held in the Senate impeachment trial of President Andrew Johnson. He was ultimately acquitted of all charges. In 1920, Joan of Arc, national hero of France, was canonized as a saint by Pope Benedict XV. In 1929, the first Academy Awards were presented; Janet Gaynor and Emil Jannings won the best actor awards. In 1943, Nazi troops crushed the monthlong Warsaw Ghetto Uprising, in which Polish Jews, led by Mordecai Anielewicz and the Jewish Fighting Organization, resisted deportation to the Treblinka extermination camp. In 1955, gymnast Olga Korbut—winner of three gold medals at the 1972 Olympics in Munich, West Germany—was born in Belorussia (now part of the country of Belarus). In 1961, the military seized power in South Korea, overthrowing the Second Republic, as General Park Chung-Hee took over the government, dissolved the National Assembly and imposed a ban on political activity. In 1966, the Beach Boys released their album, “Pet Sounds.” In 1975, Tabei Junko of Japan, accompanied by Ang Tsering of Nepal, became the first woman to reach the summit of Mount Everest. In 1986, the blockbuster film “Top Gun,” was released in U.S. theatres. In 2007, French politician Nicolas Sarkozy was sworn in as president of France; defeated at the polls in 2012, he became only the second French president to fail in a reelection bid since the foundation of the Fifth Republic in 1958. In 2019, architect I.M. Pei died at age 102.
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