| Economic Events | The U.S. Census Bureau of the Department of Commerce announced that construction spending during March was estimated at a seasonally adjusted annual rate of $1,137.5 billion, 0.3% above the revised February estimate of $1,133.6 billion. The March figure is 8.0% above the March 2015 estimate of $1,052.9 billion. During the first 3 months of this year, construction spending amounted to $240.4 billion, 9.1% above the $220.3 billion for the same period in 2015. | | Market Mirror | Major U.S. stock indices closed higher Monday as some tech stocks recovered, the Associated Press reports. The Dow gained 117.52 points (0.66%) to finish at 17,891.16, the NASDAQ closed 42.24 points (0.88%) higher at 4,817.59, and the S&P 500 increased 16.13 points (0.78%) to 2,081.43. The Russell 2000 was up 10.08 points (0.89%) at 1,140.92, and the Wilshire 5000 climbed 162.30 points (0.76%) to 21,539.89.
On the NYSE, 3.1 billion shares changed hands, with 1.7 advancing issues for every declining issue. On the NASDAQ, 2.7 billion shares traded, with a 1.3 to 1 ratio of advancers to decliners.
The price of the 10-year Treasury noted decreased 11/32, bringing its yield up to 1.874%. The price of the 30-year Treasury bond fell 30/32, increasing its yield to 2.726%. | | Sponsored message from MetLife | Pension Risk Transfer Pulse. Get the latest findings from a recent MetLife poll.Read more > | | Compliance | Owed Plan Contributions Non-Dischargeable in Bankruptcy | Though a plan fiduciary filed bankruptcy, he still owes court-ordered retirement plan contributions.Read more > | IRS Sets 2017 HSA Limits | The annual limitation on deductions for an individual with self-only coverage will change, while the limitation for individuals with family coverage will not.Read more > | Form 5500 Process Changes Announced for PR Plans | Retirement plans qualified in Puerto Rico should have an easier time filing required annual documentation under recent rule changes.Read more > | Kodak Settles Stock Drop Suit for Nearly $10M | The lawsuit claims that when Kodak filed for bankruptcy protection in January 2012, it failed to take action to protect retirement plan participants from financial loss.Read more > | | Small Talk | ON THIS DATE: In 1802, Washington, D.C., was incorporated as a city. In 1888, Thomas Edison organized the Edison Phonograph Works. In 1921, West Virginia imposed the first state sales tax. In 1937, Margaret Mitchell won a Pulitzer Prize for “Gone With The Wind.” In 1971, anti-war protesters began four days of demonstrations in Washington, D.C. In 1971, National Public Radio broadcast for the first time. In 1999, Hasbro released the first collection of toys for the Star Wars movie “Episode I: The Phantom Menace.” In 2006, in Alexandria, Virginia, Al-Quaida conspirator Zacarias Moussaoui was given a sentence of life in prison for his role in the terrorist attack on the U.S. on September 11, 2001.
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