|
| Market Mirror |
Yesterday, the Dow dropped 395.78 points (1.56%) to 25,017.44, the NASDAQ fell 219.40 points (3.03%) to 7,028.48, and the S&P 500 lost 45.54 points (1.66%) to finish at 2,690.73. The Russell 2000 closed 30.99 points (2.03%) lower at 1,496.54, and the Wilshire 5000 plunged 503.88 points (1.79%) to 27,702.31. The price of the 10-year Treasury note was up 1/32, decreasing its yield to 3.062%. The price of the 30-year Treasury bond was down 3/32, increasing its yield to 3.322%. |
|
| Sponsored message from Natixis |
Actively Changing the Climate of Target Date Funds
The first ESG-driven target date mutual funds – Natixis Sustainable Future Funds – combine sophisticated methodology with sustainable ideology. Help your clients align their values with their retirement investments. Target Date. Sustainable Focus. 2246929.1.1Read more > |
|
| Compliance |
| Court Tosses Unreasonable Recordkeeping Fee Claim Against Franklin Templeton |
| Although she moved forward most claims in a self-dealing lawsuit against Franklin Templeton Resources, U.S. District Judge Claudia Wilken of the U.S. District Court for the Northern District of California granted the firm’s cross-motion for partial summary judgment on the breach of fiduciary duty claim as to the reasonableness of Franklin Templeton’s 401(k) recordkeeping fees. Wilken pointed out that the defendants established that the administrative committee had in place a process to determine and subsequently oversee recordkeeping fees.Read more > |
| Senate Democrats Present Bill to Encourage Workers to Save for Retirement |
| The bill would revive the myRA program and replace the Saver’s Credit with a government matching contribution.Read more > |
|
| Small Talk |
| ON THIS DATE: In 1789, New Jersey became the first state to ratify the Bill of Rights. In 1901, the second Hay-Pauncefoot Treaty provided for construction of the Panama Canal by the U.S. In 1943, during World War II, U.S. Marines began their landing on Tarawa and Makin atolls in the Gilbert Islands. In 1945, 24 Nazi leaders went before an international war crimes tribunal in Nuremberg, Germany. In 1962, the Cuban Missile Crisis ended. The Soviet Union removed its missiles and bombers from Cuba and the U.S. ended its blockade of the island. In 1962, Mickey Mantle was named the American League Most Valuable Player for the third time. In 1967, the Census Clock at the Department of Commerce in Washington, D.C., went past 200 million. In 1969, the Nixon administration announced a halt to residential use of the pesticide DDT as part of a total phase out of the substance. In 1986, the one billionth Little Golden Book was printed. The title was The Poky Little Puppy. In 2001, the U.S. Justice Department headquarters building was renamed the Robert F. Kennedy building by President George W. Bush. The event was held on what would have been Kennedy’s 76th birthday. |
| TRIVIAL PURSUITS: What department store created the first Thanksgiving Day Parade in the United States?Read more > |
| 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 > |
