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November 27th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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ECONOMIC EVENTS |
New orders for manufactured durable goods in October, down three of the last four months, decreased $16.0 billion or 5.4% to $279.4 billion, the Census Bureau reported.
Monday the Census Bureau will report new home sales for October. Tuesday, the Conference Board will report consumer confidence for November. Thursday, the Census Bureau will issue its initial jobless claims report, and Freddie Mac will update average mortgage rates for the week. Friday, the Census Bureau will report construction spending for October.
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MARKET MIRROR |
Wednesday, the Dow rose 184.74 points (0.53%) to close at 35,273.03, the Nasdaq was up 65.88 points (0.46%) to close at 14,265.86 and the S&P 500 rose 18.43 points (0.41%) to close at 4,556.62. The Russell 2000 rose 12.28 points (0.69%) to close at 1,795.54, and the FT Wilshire 5000 Index was up 199.48 points (0.44%) to close at 45,709.66.
The 10-year Treasury note dropped 1/32, bringing the yield to 4.408%. The 30-year Treasury bond rose 2/32, bringing the yield to 4.541%.
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AWARDS
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2023 Service Stars
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The PLANSPONSOR Service Star Awards program recognized the retirement plan account representatives and relationship managers who, in the words of their plan sponsor clients, have demonstrated exemplary service.
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RESEARCH
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Don't miss your chance to participate in PLANSPONSOR's DC Survey!
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PLANSPONSOR’s annual DC Survey is closing soon. Be a part of the most widely used benchmarking data for the defined contribution retirement plan marketplace. Eligible plan sponsors that participate in the survey will get a free copy of an industry report that can be useful for plan benchmarking.
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ON THIS DATE: In 1832, a special state convention in South Carolina adopted the Ordinance of Nullification, which declared two federal tariffs null and void within the state; it sparked the nullification crisis, which ended in favor of the federal government. In 1859, Charles Darwin’s “On the Origin of Species by Means of Natural Selection was published.” In 1874, inventor Joseph Farwell Glidden patented the first commercially successful barbed wire. In 1877, shortly before her death, author Anna Sewell published her only novel, “Black Beauty,” the first major animal story in children’s literature. In 1947, the Hollywood Ten, a group of motion-picture producers, directors, and screenwriters who appeared before the House Un-American Activities Committee in October 1947, were found in contempt of Congress. In 1960, Philadelphia Warrior Wilt Chamberlain snagged 55 rebounds in a game against the Boston Celtics and set a National Basketball Association record for the most rebounds in a single game. In 1963, Dallas nightclub owner Jack Ruby fatally shot Lee Harvey Oswald, the accused assassin of U.S. President John F. Kennedy. In 1974, the fossils of an early human ancestor were discovered in northeastern Ethiopia. Soon nicknamed “Lucy,” the remains showed that human species were walking upright over three million years ago. In 1998, Queen Elizabeth II, speaking at the annual ceremonies opening the British Parliament, announced that the right of hereditary peers to vote in the House of Lords would end, though compromise legislation later allowed 92 hereditary peers to remain in the Lords. In 2001, the Grand National Assembly of Turkey ratified changes to the country’s legal code that made women equal to men before the law and no longer subject to their husbands.
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