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November 17th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
In the week ending November 11, the advance figure for seasonally adjusted initial claims was 231,000, an increase of 13,000 from the previous week’s revised level of 218,000, the Department of Labor announced. The four-week moving average was 220,250, an increase of 7,750 from the previous week’s revised average of 212,500.
Interest on a 30-year fixed-rate mortgage averaged 7.44% for the week ending November 16, down from last week when it averaged 7.50%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 6.61%. Interest on a 15-year fixed-rate mortgage averaged 6.76%, down from last week when it averaged 6.81%. A year ago at this time, the 15-year FRM averaged 5.98%.
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| MARKET MIRROR |
Thursday, the Dow fell 45.74 points (0.13%) to close at 34,945.47, the Nasdaq rose 9.84 points (0.07%) to close at 14,113.67 and the S&P 500 rose 5.36 points (0.12%) to close at 4,508.24%. The Russell 2000 lost 27.46 points (1.52%) to close at 1,773.76, and the FT Wilshire 5000 Index lost 24.85 points (0.05%) to close at 45,200.05.
The 10-year Treasury note increased 29/32, bringing the yield to 4.436%. The 30-year Treasury bond increased 1 25/32, bringing the yield to 4.616%.
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PRODUCTS
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Investment Product & Service Launches
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Employee Fiduciary launches 401(k) fees calculator; Businessolver enhances MyChoice accounts HSA investment platform; BenchMine launches latest retirement plan insights; and more. 
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ON THIS DATE: In 1800, the U.S. Congress held its first session in Washington, D.C. In 1868, after 10 years of construction, the Suez Canal opened in Egypt. In 1887, British Field Marshal Bernard Law Montgomery, one of the outstanding Allied commanders in World War II, was born in London. In 1942, filmmaker Martin Scorsese, who was known for his harsh, often violent depictions of American culture, was born. In 1950, German athlete Roland Matthews, one of the greatest backstrokers in the history of swimming, was born in East Germany. In 1973, during the Watergate scandal, U.S. President Richard Nixon held a press conference in which he declared, “I am not a crook.” In 1989, massive antigovernment demonstrations in Czechoslovakia were set off by police brutality at a demonstration commemorating the 50th anniversary of the suppression of a student demonstration in German-occupied Prague, and, under the leadership of Vaclav Havel, they continued until the communist government resigned. In 2003, Republican Arnold Schwarzenegger, an Austrian-born American bodybuilder and film actor, was inaugurated as the governor of California following a recall election that ousted the sitting governor. In 2008, the first film adaptation of Stephanie Meyer’s popular Twilight Saga, a vampire-themed series of novels for teenagers, premiered in Los Angeles.
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