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November 17th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
Advance estimates of U.S. retail and food services sales for October, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $694.5 billion, up 1.3% from the previous month and 8.3% above October 2021, the Census Bureau reported. Total sales for August through October were up 8.9% from the same period one year ago. Retail trade sales were up 1.2% from September and 7.5% from last year. Gasoline station sales were up 17.8% from October 2021, while food services and drinking places were up 14.1% from last year.
U.S. total business end-of-month inventories for September were $2.46 trillion, up 0.4% from last month, the Census Bureau reported. U.S. total business sales were $1.85 trillion, up 0.2% from last month.
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| MARKET MIRROR |
Wednesday, the Dow lost 39.09 points (0.12%) to close at 33,553.83, the Nasdaq decreased 174.75 points (1.54%) to close at 11,183.66 and the S&P 500 lost 32.94 points (0.83%) to close at 3,958.79. The Russell 2000 decreased 36.04 points (1.91%) to end trading at 1,853.17 and the Wilshire 5000 decreased 410.74 points (1.03%) to close at 39,433.57.
The price of the 10-year Treasury note increased 29/32, bringing the yield down to 3.693%. The price of the 30-year Treasury bond increased 2 1/32, bringing the yield down to 3.845%.
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PROVIDER RELATIONSHIPS | FIDUCIARY INSURANCE
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The Cost of Protection
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Managing the growing expense of liability coverage. 
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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 want 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 1777, the Articles of Confederation were submitted to the states for ratification. In 1800, Congress held its first session in Washington, D.C., in the partially completed Capitol building. In 1869, the Suez Canal connecting the Mediterranean and Red Seas, opened in Egypt. In 1968, TV viewers were outraged because an N.F.L. football game was cut off to air the movie “Heidi.” In 1973, during the Watergate scandal, President Richard Nixon held a press conference in which he declared, “I am not a crook.” In 1997, Mario Lemieux was voted into the Hockey Hall of Fame. In 2003, actor and former bodybuilder Arnold Schwarzenegger was sworn in as the 38th governor of California.
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