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October 13th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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ECONOMIC EVENTS |
The Producer Price Index for final demand increased 0.4% in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices declined 0.2% in August and 0.4% in July. On an unadjusted basis, the index for final demand advanced 8.5% for the 12 months ended in September.
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MARKET MIRROR |
Wednesday, the Dow lost 28.34 points (0.10%) to close at 29,210.85, the Nasdaq decreased 9.09 points (0.09%) to finish at 10,417.099 and the S&P 500 lost 11.81 points (0.33%) to close at 3,577.03. The Russell 2000 fell 5.15 points (0.30%) to close at 1,687.76 and the Wilshire 5000 decreased 214.57 points (0.59%) to close at 35,911.76.
The price of the 10-year Treasury note increased 3/32 bringing the yield down to 3.907%. The price of the 30-year Treasury note increased 28/32 bringing the yield up to 3.886%.
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SURVEYS
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DC Survey Now Open
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For more than 20 years, PLANSPONSOR’s annual Defined Contribution Survey has provided benchmarking data for nearly 50 industries/business sectors and for 401(k), 403(b), and other DC plans, as well as nonqualified plans. Represent your industry and plan type by participating, and you’ll receive a free benchmarking report.
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In 1775, the Continental Congress authorized construction and administration of the first American naval force—the precursor to the United States Navy. In 1792, the cornerstone was laid for a presidential residence in the newly designated capital city of Washington, D.C, and in 1800, President John Adams became the first president to reside in the executive mansion, known as the White House. In 1897, lawyer Edith Sampson was born. She was the first black American to be appointed as a United Nations delegate and first to be elected as a U.S. circuit judge. In 1903, the Boston Americans (later Boston Red Sox) defeated the Pittsburgh Pirates to win the first modern World Series. In 1946, after being approved by French voters in a referendum, the constitution of the Fourth Republic was adopted. In 1960, the World Series ended on a home run for the first time, after Pittsburgh Pirates’ short stop Bill Mazeroski’s home run beat the New York Yankees. In 1967, the American Basketball Association debuted, with 11 teams. In 2010, the last of 33 miners trapped nearly half a mile underground for more than two months at a caved-in mine in northern Chile, were rescued. The miners survived longer than anyone else trapped underground in recorded history.
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