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November 14th, 2019
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
In October, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4%, seasonally adjusted (SA), rising 1.8% over the year, not seasonally adjusted (NSA), according to the Bureau of Labor Statistics. The index for all items less food and energy rose 0.2% in October, SA; up 2.3% over the year, NSA.
Real average hourly earnings decreased 0.2% over the month in October, SA. Average hourly earnings increased 0.2% and CPI-U increased 0.4%. Real average weekly earnings decreased 0.1% over the month.
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| Market Mirror |
Wednesday, the Dow closed 92.10 points (0.33%) higher at 27,783.59, the NASDAQ was down 3.99 points (0.05%) at 8,482.10, and the S&P 500 increased 2.20 points (0.07%) to 3,094.04. The Russell 2000 decreased 5.94 points (0.37%) to 1,589.18, and the Wilshire 5000 was up 9.16 points (0.03%) at 31,497.28.
The price of the 10-year Treasury note was up 3/32, decreasing its yield to 1.889%. The price of the 30-year Treasury bond increased 32/32, bringing its yield down to 2.368%.
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ON THIS DATE: In 1832, the first streetcar went into operation in New York City. The vehicle was horse-drawn and had room for 30 people. In 1851, Herman Melville’s novel “Moby Dick” was first published in the U.S. In 1883, the gunslinger Franklin “Buckskin” Leslie shot and killed Billy “The Kid” Claiborne in the streets of Tombstone, Arizona. In 1965, in the first major engagement of the war between regular U.S. and North Vietnamese forces, elements of the 3rd Brigade, 1st Cavalry Division (Airmobile) fought a pitched battle with Communist main-force units in the Ia Drang Valley of the Central Highlands. In 1968, Yale University announced it was going co-educational. In 1970, a chartered jet carrying most of the Marshall University football team clipped a stand of trees and crashed into a hillside just two miles from the Tri-State Airport in Kenova, West Virginia, killing everyone onboard. In 1972, Blue Ribbon Sports became Nike. In 1979, President Jimmy Carter froze all Iranian assets in the United States and U.S. banks abroad in response to the taking of 63 American hostages at the U.S. embassy in Tehran, Iran. In 1995, the U.S. government instituted a partial shutdown, closing national parks and museums while most government offices operated with skeleton crews.
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SURVEY SAYS: This time of year, employers start thinking about holiday parties to reward employees and boost morale. I’d like to know, what do you think of workplace holiday parties? Is there something else you’d rather your employer do instead? You may respond to this week’s survey by 6 p.m. Pacific time today.
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