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May 26th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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New orders for manufactured durable goods in April increased $1.2 billion or 0.4% to $265.3 billion, the U.S. Census Bureau reported. This increase, up six of the last seven months, followed a 0.6% March increase. Excluding transportation, new orders increased 0.3%. Excluding defense, new orders increased 0.3%. Transportation equipment, up following two consecutive monthly decreases, led the increase, $0.6 billion or 0.6% to $86.7 billion.
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| MARKET MIRROR |
Wednesday, the Dow increased 191.66 points (0.60%) to 32,120.28, the Nasdaq gained 170.29 points (1.51%) to close at 11,434.74, and the S&P increased 37.25 points (0.95%) to 3,978.73. The Russell 2000 gained 34.34 points (1.95%) to 1,799.16, and the Wilshire 5000 was up 480.11 points (1.23%) to 39,515.33.
The price of the 10-year Treasury note was virtually unchanged with its yield at 2.757%. The price of the 30-year Treasury bond was down 1/32 raising its yield to 2.975%.
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ON THIS DATE: In 1868, the U.S. Senate narrowly failed to convict President Andrew Johnson of the impeachment charges levied against him by the House of Representatives. In 1896, the last czar of Russia, Nicholas II, was crowned. In 1897, the first copies of the classic vampire novel “Dracula,” by Irish writer Bram Stoker, appeared in London bookshops. In 1927, Henry Ford and his son Edsel drove the 15 millionth Model T Ford out of their factory, marking the automobile’s official last day of production. In 1946, a patent was filed in the United States for the H-bomb. In 1978, the first legal casino in the Eastern U.S. opened in Atlantic City, New Jersey. In 1988, the Edmonton Oilers won their fourth NHL Stanley Cup in five seasons. In 1998, the U.S. Supreme Court ruled that Ellis Island was mainly in New Jersey, not New York.
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