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| Economic Events | |
The Producer Price Index for final demand increased 0.4% in October, as prices for final demand services rose 0.5% and the index for final demand goods advanced 0.3%, the Bureau of Labor Statistics reported. The final demand index increased 2.8% for the 12 months ended in October. | |
| Market Mirror | |
Tuesday, the Dow lost 30.23 points (0.13%) to finish at 23,409.47, the NASDAQ closed 19.72 points (0.29%) lower at 6.737.87, and the S&P 500 decreased 5.97 points (0.23%) to 2,578.87. The Russell 2000 was down 3.81 points (0.26%) at 1,471.26, and the Wilshire 5000 fell 70.69 points (0.26%) to 26,719.19.
The price of the 10-year Treasury note was up 8/32, decreasing its yield to 2.376%. The price of the 30-year Treasury bond increased 26/32, bringing its yield down to 2.832%. | |
| Sponsored message from Vanguard | |
| Risk Within Target-Date Funds The biggest risk to target-date funds isn’t what you’d expect. Read more > | |
| Compliance | |
| IRS Releases Covered Compensation Tables | |
| The tables are to be used for determining contributions to defined benefit (DB) plans and permitted disparity in defined contribution (DC) plan contributions.Read more > | |
| From the Magazine | |
| Best Practices for the IPS | |
| Although not a required document, an investment policy statement (IPS) is now in place with 65% of plan sponsors, according to the 2016 PLANSPONSOR Defined Contribution (DC) Survey. If the document exists, a best practice for the retirement plan committee is to review the statement regularly, to see whether it needs updating and to confirm that the committee itself followed the stated process during the preceding year.Read more > | |
| Investing | |
| OCIO Model Gaining Ground With Variety of Investors | |
| Together, defined benefit (DB) plans and nonprofits continue to represent the majority of the assets under management of outsourced chief investment officers (OCIOs) polled by Cerulli Associates. However, OCIOs are gaining momentum with a broader range of investors.Read more > | |
| Small Talk | |
| Employees polled by OfficeTeam cited some challenges to working for a younger boss or managing an employee who is older. Yet, the research found more than eight in 10 professionals (82%) polled said they would be comfortable reporting to a manager who’s younger than they are; 91% wouldn’t mind supervising employees older than themselves.Read more > | |
ON THIS DATE: In 1777, the Continental Congress approved the Articles of Confederation, precursor to the U.S. Constitution. In 1864, Union General William T. Sherman and his troops began their “March to the Sea” during the U.S. Civil War. In 1867, the first stock ticker was unveiled in New York City. In 1901, Miller Reese patented an electrical hearing aid. In 1920, the League of Nations met for the first time in Geneva, Switzerland. In 1926, the National Broadcasting Co. (NBC) debuted with a radio network of 24 stations. The first network radio broadcast was a four-hour “spectacular.” In 1939, U.S. President Franklin Roosevelt laid the cornerstone of the Jefferson Memorial in Washington, D.C. In 1969, in Washington, D.C., one-quarter of a million protesters staged a peaceful demonstration against the Vietnam War. In 1992, NASCAR driver Richard Petty drove in the final race of his 35-year career. In 2005, in Amiens, France, Isabelle Dinoire became the first person to undergo a partial face transplant.
WEDNESDAY WISDOM: “Nobody made a greater mistake than he who did nothing because he could do only a little.”—Edmund Burke, Irish statesman and author | |
| Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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