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May 9th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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Investing
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Extreme Market Volatility Demands Engagement
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Helping retirement plan participants navigate big market swings is a key part of ensuring long-term success—as is sticking to strategic and diversified asset allocations. 
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| ECONOMIC EVENTS |
Total nonfarm payroll employment increased by 428,000 in April, and the unemployment rate was unchanged at 3.6%, according to the Bureau of Labor Statistics. Job growth was widespread, led by gains in leisure and hospitality, manufacturing, and transportation and warehousing.
Wednesday, the Bureau of Labor Statistics will reveal the Consumer Price Index for April. Thursday, the Department of Labor will report about initial jobless claims for the week of May 7, Freddie Mac will update average mortgage rates for the week, and the Bureau of Labor Statistics will reveal the producer price index for April.
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| MARKET MIRROR |
Friday, the Dow was down 98.60 points (0.30%) to 32,899.37, the Nasdaq fell 173.03 points (1.40%) to 12,144.66, and the S&P 500 lost 23.53 points (0.57%) to close at 4,123.34. The Russell 2000 was down 31.58 points (1.69%) to 1,839.56, and the Wilshire 5000 dropped 366.06 points (0.88%) to 41,057.46.
The price of the 10-year Treasury note was down 30/32 bringing its yield up to 3.148. The price of the 30-year Treasury bond decreased 1 31/32 increasing its yield up to 3.240%.
For the week ending May 6, the Dow was down 0.24%, the Nasdaq fell 1.54%, and the S&P 500 lost 0.21%. The Russell 2000 decreased 1.32%, and the Wilshire 5000 finished 0.69% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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NEPC appoints former Meketa executive to COO role; Alan Biller and Associates announces promotion and new shareholders; Mercer appoints head of sustainable investment; and more.
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ON THIS DATE: In 1887, entertainer Buffalo Bill opened his Wild West show in London to Queen Victoria and her subjects. In 1919, President Woodrow Wilson proclaimed the first Mother’s Day holiday. In 1960, the U.S. Food and Drug Administration approved the world’s first commercially produced birth-control pill. In 1971, the last episode of “The Honeymooners” was aired. In 1974, the House of Representatives voted to proceed with impeachment proceedings against President Ricard Nixon. In 1994, Nelson Mandela was chosen as South Africa’s first black president.
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