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Allstate ERISA Lawsuit Clears Dismissal Motions
Allstate ERISA Lawsuit Clears Dismissal Motions
The text of the ruling includes detailed analysis of what it takes for ERISA plaintiffs to prove standing under Article II of the U.S. Constitution, along with analysis of the Federal Rules of Civil Procedure 12(b)(1) and 12(b)(6).
Investment Product and Service Launches
abrdn presents new industrial metals ETF; Vanguard to lower investor costs through enhancements to its target retirement series; State Street expands fixed income ETF offering; and more.
Most Read
2022 Recordkeeping Survey
TRIVIAL PURSUITS: How Many States Are in More Than One Time Zone?
Defined Benefit Plans May Have New Life
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”
Economic Events
Interest on a 30-year fixed-rate mortgage (FRM) averaged 3.01% for the week ending September 30, up from last week when it averaged 2.88%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 2.88%. Interest on a 15-year FRM averaged 2.28%, up from last week when it averaged 2.15%. A year ago at this time, the 15-year FRM averaged 2.36%.

In the week ending September 25, the advance figure for seasonally adjusted initial claims for unemployment insurance was 362,000, an increase of 11,000 from the previous week’s unrevised level of 351,000, the Labor Department reported. The four-week moving average was 340,000, an increase of 4,250 from the previous week’s unrevised average of 335,750.
Market Mirror
Thursday, the Dow fell 546.80 points (1.59%) to 33,843.92, the Nasdaq closed 63.86 points (0.44%) lower at 14,448.58, and the S&P 500 decreased 51.92 points (1.19%) to 4,307.54. The Russell 2000 was down 20.94 points (0.94%) at 2,204.37, and the Wilshire 5000 lost 482.07 points (1.06%) to finish at 44,850.03.

The price of the 10-year Treasury note was up 1/32, decreasing its yield to 1.505%. The price of the 30-year Treasury bond was unchanged, with its yield at 2.064%.
Court Rules in Favor of Prudential in ERISA Dispute
The detailed dismissal ruling engages in an analysis of all five counts included in the plaintiff’s amended complaint, in each case siding with the defense that dismissal is warranted.
Small Talk
SURVEY SAYS: We recently covered a survey which found Americans are getting more comfortable using content on social media to help with financial decisions. This week, I’d like to know, do you feel social media can be a source for reliable financial help, and have you ever used something on social media to help you make a financial decision? If you haven’t already, you may respond to this survey by 6 p.m. Pacific time today.
ON THIS DATE: In 1880, Thomas Edison began the commercial production of electric lamps at Edison Lamp Works in Menlo Park. In 1890, an act of Congress created Yosemite National Park. In 1896, Rural Free Delivery (RFD) was established by the U.S. Post Office. In 1908, the Model T automobile was introduced by Henry Ford. The purchase price of the car was $850. In 1924, future President James Earl Carter was born in Plains, Georgia. In 1940, the Pennsylvania Turnpike opened as the first toll superhighway in the United States. In 1946, 12 high-ranking Nazis were sentenced to death by the International War Crimes Tribunal in Nuremberg. In 1961, New York Yankee Roger Maris became the first-ever major-league baseball player to hit more than 60 home runs in a single season, breaking Babe Ruth’s record. In 1971, Walt Disney World opened in Orlando, Florida. In 1979, the United States handed control of the Canal Zone over to Panama. In 1982, EPCOT (Experimental Prototype Community of Tomorrow) Center opened in Florida.

And now it’s time for some FRIDAY FUN!
An amazing “flower girl” doesn’t have to be a girl.

A TikTok bombing cat.

Someone else is having a worse day at work than you.

Have a great weekend!
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