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| Market Mirror | |
Solid gains in energy and technology stocks led major U.S. stock indices higher, the Associated Press reports. The Dow gained 175.39 points (1.00%) to finish at 17,710.71, the NASDAQ closed 57.78 points (1.22%) higher at 4,775.46, and the S&P 500 increased 19.81 points (0.97%) to 2,066.42. The Russell 2000 was up 13.77 points (1.25%) at 1,116.21, and the Wilshire 5000 climbed 224.26 points (1.06%) to 21, 341.47. On the NYSE, 3.1 billion shares traded, with advancing issues outnumbering declining issues more than 3 to1. On the NASDAQ, 2.7 billion shares changed hands, with a more than 2 to 1 lead for advancers. The price of the 10-year Treasury note decreased 16/32, bringing its yield up to 1.754%. The price of the 30-year Treasury bond climbed 30/32, increasing its yield to 2.596%. | |
| Sponsored message from MetLife | |
| Pension Risk Transfer Pulse. What is the top catalyst for a Pension Risk Transfer? Watch the video.Read more > | |
| Compliance | |
| Court Expands Withdrawal Liability Rules for Construction Employers | |
| The 10th U.S. Circuit Court of Appeals has found that a construction employer owes multiemployer plan withdrawal liability even though a non-union construction employer continued its operations within five years after the union employer exited the plan.Read more > | |
| EEOC Announces Final Rules for Wellness Programs | |
| The U.S. Equal Employment Opportunity Commission (EEOC) today issued two final rules that explain how Title I of the Americans with Disabilities Act (ADA) and Title II of the Genetic Information Nondiscrimination Act (GINA) apply to wellness programs offered by employers that request health information from employees and their spouses.Read more > | |
| Bank Targeted in ERISA Complaint for Self-Dealing | |
| Participants in M&T Bank retirement plans accuse the company of unfairly promoting its own mutual funds at the expense of plan performance.Read more > | |
| Investing | |
| Net new investment to long-term mutual funds and exchange-traded funds (ETFs) totaled $15.2 billion in April, according to Strategic Insight (SI), an Asset International company. The SI fund flow data shows bond funds captured $27.4 billion of net inflows, while equity funds experienced net redemptions of $12.2 billion.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1792, 24 brokers founded the New York Stock Exchange at 70 Wall Street. In 1875, the first Kentucky Derby was run at Louisville, Kentucky. In 1932, the U.S. Congress changed the name “Porto Rico” to “Puerto Rico.” In 1954, the U.S. Supreme Court unanimously ruled for school integration in Brown vs. Board of Education of Topeka. The ruling declared that racially segregated schools were inherently unequal. In 1973, the U.S. Senate Watergate Committee began its hearings. In 1999, Alex Trebek received a star on the Hollywood Walk of Fame. In 2000, Thomas E. Blanton Jr. and David Luker surrendered to police in Birmingham, Alabama. The two former Ku Kl.ux Kl.an members were arrested on charges from the bombing of a church in 1963 that killed four young black girls. In 2000, Austria, the U.S. and six other countries agreed on the broad outline of a plan that would compensate Nazi-era forced labor. | |
| TRIVIAL PURSUITS: Of these three brand personas, which one was NOT inspired by a real person: Aunt Jemima, Betty Crocker, Sara Lee?Read more > | |
| Share the good 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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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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