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November 14th, 2022
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 Producer Price Index for final demand for October. Wednesday, the Census Bureau will report retail sales for October and U.S. total business end-of-month inventories for September. Thursday, the Labor Department will issue its initial jobless claims report, the Census Bureau will report new housing starts for October and Freddie Mac will update average mortgage rates for the week. Friday, the National Association of Realtors will report existing home sales for October.
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| MARKET MIRROR |
Friday, the Dow increased 32.49 points (0.10%) to close at 33,747.86, the Nasdaq gained 209.18 points (1.88%) to end trading at 11,323.33 and the S&P 500 increased 36.56 points (0.92%) to close at 3,992.93. The Russell 2000 gained 14.81 points (0.79%) to close at 1,882.74 and the Wilshire 5000 increased 415.39 points (1.05%) to close at 39,835.70.
The price of the 10-year Treasury note decreased 1/32, bringing the yield up to 3.819%. The price of the 30-year Treasury bond decreased 1/32, bringing the yield up to 4.057%.
For the week ending November 11, the Dow increased 4.15%, the Nasdaq gained 8.10% and the S&P 500 gained 5.90%. The Russell 2000 gained 4.60% and the Wilshire 5000 finished 5.85% higher.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Northwestern Mutual adds to Pillar Financial Group; UBS hires Las Vegas financial adviser; Lincoln Financial Network hires two financial professionals; and more. 
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SURVEYS
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CIO’s Transition Management Survey
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Are you a provider of transition management services and would like to make your services known to institutional investors? If so, you are invited to respond to CIO’s Transition Management Survey.
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ON THIS DATE: In 1776, the St. James Chronicle of London announced Benjamin Franklin had joined the rebellion in America. In 1851, Herman Melville’s novel “Moby Dick” was first published in the U.S. In 1889, journalist Nellie Bly began her around-the-world race against the record of Phileas Fogg, hero of Jules Verne’s novel, “Around the World in Eighty Days;” she completed the journey in slightly more than 72 days. In 1915, educator, reformer and first president and principal developer of Tuskegee Normal and Industrial Institute (now Tuskegee University) Booker T. Washington, a spokesman for African Americans in the late 19th and the early 20th century, died at age 59. In 1948, King Charles—then the heir apparent to the British throne, as the eldest child of Queen Elizabeth II and Prince Philip, duke of Edinburgh—was born. In 1954, Condoleezza Rice was born. Rice was the first black woman, second African American and second woman to serve as U.S. Secretary of State. In 1972, the Dow Jones Industrial Average closed above 1,000 for the first time. In 2002, Nancy Pelosi became the first woman to be named leader of either party in either house of Congress.
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