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November 13th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Bureau of Labor Statistics will report the consumer price index for October. Wednesday, the Bureau of Labor Statistics will report the producer price index for October and the Census Bureau will report U.S retail sales for October and business inventories for September. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. Friday, the Census Bureau will report new housing starts for October.
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| MARKET MIRROR |
Friday, the Dow rose 391.16 points (1.15%) to close at 34,283.10, the Nasdaq rose 276.66 points (2.05%) to close at 13,798.11 and the S&P 500 rose 67.89 points (1.56%) to close at 4,415.24. The Russell 2000 rose 18.09 points (1.07%) to close at 1,705.32, and the FT Wilshire 5000 Index rose 650.79 points (1.49%) to close at 44,188.99.
The 10-year Treasury note fell 23/32, bringing the yield to 4.641%. The 30-year Treasury bond fell 13/32, bringing the yield to 4.760%.
For the week ending November 10, the Dow rose 0.65%, the Nasdaq rose 2.37% and the S&P 500 rose 1.31%. The Russell 2000 fell 3.15%, and the FT Wilshire 5000 Index ended 0.91% higher.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Voya hires Harrell as regional vice president; MissionSquare names Whiting SVP, chief sales officer; CAPTRUST adds Leddy as chief compliance officer; and more. 
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AWARDS
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Do You Work With a Great Plan Adviser!
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Nominate your plan adviser today for the 2024 Retirement Plan Adviser of the Year awards. We need your help in identifying the best in the business. The deadline for nominations is November 30.
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RESEARCH
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Don't miss your chance to participate in PLANSPONSOR's DC Survey!
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PLANSPONSOR’s annual DC Survey is closing soon. Be a part of the most widely used benchmarking data for the defined contribution retirement plan marketplace. Eligible plan sponsors that participate in the survey will get a free copy of an industry report that can be useful for plan benchmarking.
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ON THIS DATE: In 1775, Continental Army Brigadier General Richard Montgomery took over Montreal, Canada, without opposition. In 1916, during World War I a costly four-month Allied offensive against German positions along the Somme River ended. In 1918, Egyptian Saad Zaghloul formed Al Wafd al-Miṣrī (Arabic for the “Egyptian Delegation”), the nationalist political party that was instrumental in gaining Egyptian independence from the U.K. In 1940, the animated film “Fantasia” had its first public screening, and it became one of Disney’s more controversial works, derided for its portentousness and praised for its stunning visual virtuosity. In 1980, director Martin Scorsese’s film “Raging Bull,” a biopic about boxer Jake La Motta, had its world premiere and became an American classic, especially known for the Oscar-winning performance of Robert De Niro in the title role. In 1982, near the end of a weeklong national salute to Americans who served in the Vietnam War, the Vietnam Veterans Memorial was dedicated in Washington, D.C. after a march to its site by thousands of veterans of the conflict. In 1985, Mount Ruiz, a volcano in the Cordillera Central of the Andes, in west-central Colombia, erupted twice, burying the town of Armero on the Lagunilla River and killing an estimated 25,000 people. In 2015, terrorists staged coordinated attacks in Paris and its environs, the deadliest occurring at the Bataclan theatre and concert hall; in all, at least 130 people were killed and more than 350 were wounded. In 2020, veteran front-office official Kim Ng was named general manager of the Miami Marlins. Ng was the first woman and first person of East Asian descent to lead a Major League Baseball front office, as well as the first female GM in the history of North American professional men’s sports.
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