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May 2nd, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Total construction activity for March 2024 ($2,083.9 billion) was 0.2% below the revised February 2024 ($2,087.8 billion), the Census Bureau reported.
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| MARKET MIRROR |
Wednesday, the Dow rose 87.37 points (0.23%) to close at 37,903.29, the Nasdaq fell 52.34 points (0.33%) to close at 15,605.48 and the S&P 500 fell 17.30 points (0.34%) to close at 5,018.39. The Russell 2000 rose 6.32 points (0.32%) to close at 1,980.23, and the FT Wilshire 5000 Index fell 133.62 points (0.26%) to close at 50,438.77.
The 10-year Treasury note fell 1/32, bringing the yield to 4.639%. The 30-year Treasury bond fell 1/32, bringing the yield to 4.753%.
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ON THIS DATE: In 1611, the King James version of the Bible was first published. In 1803, the U.S. purchased the Louisiana Territory from France at a rate of less than three cents per acre for 530,000,000 acres. In 1903, pediatrician Benjamin Spock—who wrote a number of works on child rearing, notably “Common Sense Book of Baby and Child Care,” which sold more than 50 million copies worldwide—was born. In 1920, the Negro National League, founded by Rube Foster, held its first game; it was considered the first successful professional baseball league for African Americans; notable players included Cool Papa Bell and Satchel Paige. In 1921, Bengali director Satyajit Ray, who brought Indian cinema to world recognition, was born in Kolkata. In 1939, New York Yankee great Lou Gehrig, the “Iron Horse” of baseball, ended his streak of consecutive games played at 2,130, setting a record that stood until 1995, when it was broken by Cal Ripken, Jr. In 1946, an attempted prison escape by six inmates at Alcatraz resulted in two days of violent fighting, which became known as the Battle of Alcatraz. In 1997, British Labor Party leader Tony Blair became prime minister of the U.K.; he was the youngest person to hold the office since 1812. In 2000, President Bill Clinton announced that highly accurate Global Positioning System data would be made available to the public; the satellite signals had previously been only for military use. In 2011, Osama bin Laden—founder of the militant Islamist organization al-Qaeda and mastermind of numerous terrorist attacks, notably the September 11, 2001, attacks on the U.S.—was killed by U.S. forces in Abbottabad, Pakistan.
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