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November 5th, 2019
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
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New orders for manufactured durable goods in September decreased $2.8 billion or 1.1% to $248.2 billion, the U.S. Census Bureau announced. This decrease, down following three consecutive monthly increases, followed a 0.3% August increase. Excluding transportation, new orders decreased 0.3%. Excluding defense, new orders decreased 1.2%. Transportation equipment, also down following three consecutive monthly increases, led the decrease, $2.3 billion or 2.7% to $84.5 billion.
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| Market Mirror |
Yesterday, the Dow gained 114.75 points (0.42%) to finish at 27,462.11, the NASDAQ closed 46.80 points (0.56%) higher at 8,433.20, and the S&P 500 increased 11.36 points (0.37%) to 3,078.27. The Russell 2000 was up 8.07 points (0.51%) at 1,597.40, and the Wilshire 5000 climbed 117.02 points (0.37%) to 31,384.20.
The price of the 10-year Treasury note decreased 28/32, bringing its yield up to 1.778%. The price of the 30-year Treasury bond fell 1 27/32, increasing its yield to 2.267%.
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ON THIS DATE: In 1605, the “Gunpowder Plot” attempted by Guy Fawkes failed when he was captured before he could blow up the English Parliament. Guy Fawkes Day is celebrated every year in Britain. In 1872, in the U.S., Susan B. Anthony was fined $100 for attempting to vote in the presidential election. She never paid the fine. In 1935, the game “Monopoly” was introduced by Parker Brothers Company. In 1940, President Franklin Roosevelt won an unprecedented third term in office. In 1946, John F. Kennedy was elected to the U.S. House of Representatives at the age of 29. In 1959, the American Football League was formed. In 1974, Ella T. Grasso was elected governor of Connecticut. She was the first woman in the U.S. to win a governorship without succeeding her husband. In 1994, George Foreman, 45, became boxing’s oldest heavyweight champion when he knocked out Michael Moorer in the 10th round of their WBA fight in Las Vegas. In 1999, U.S. District Judge Thomas Penfield Jackson ruled that Microsoft Corp. enjoyed “monopoly power.”
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TRIVIAL PURSUITS: From where did the term “highbrow” come?
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SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “What do you think about your company’s performance appraisal process? Nearly all responding readers (93.5%) reported their company uses a formal performance appraisal process. Only 6.7% indicated they are “very satisfied” with the process, while 23.3% are “somewhat satisfied,” and 16.7% are “neither dissatisfied nor satisfied.” Asked what they like about their company’s performance appraisal process, 30% chose “nothing.” More than two in 10 said they like getting a raise afterward, 16.7% like being able to let their boss know about the work they’ve done, and 26.7% like getting input from their boss about their work. As for what they dislike about their company’s performance appraisal process, 17.9% chose “everything,” 46.4% said it has no relation to raises, and 39.3% said it takes too much time. Most of the readers who left comments seemed to be in the “dislike” camp. Many mentioned that raises are not actually tied to performance. Some complained about the time it takes, and several indicated it serves no purpose. Many readers said feedback on performance should be done between employees and managers throughout the year. Editor’s Choice goes to the reader who said: “I would prefer a monthly ‘touch base’ session with my supervisor.” Thanks to everyone who participated in our survey!
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