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October 14th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
In September, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% on a seasonally adjusted (SA) basis; rising 1.4% over the last 12 months, not seasonally adjusted (NSA), the Bureau of Labor Statistics reported. The index for all items less food and energy rose 0.2% in September ,SA; up 1.7% over the year, NSA.
Real average hourly earnings decreased 0.1% over the month in September, SA. Average hourly earnings increased 0.1% and CPI-U increased 0.2%. Real average weekly earnings increased 0.2% over the month.
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| Market Mirror |
Tuesday, the Dow lost 157.71 points (0.55%) to finish at 28,679.81, the NASDAQ decreased 12.36 points (010%) to 11,863.90, and the S&P 500 fell 22.29 points (0.63%) to 3,511.93. The Russell 2000 was virtually unchanged at 1,636.85, and the Wilshire 5000 closed 162.83 points (0.45%) lower at 36,258.99.
The price of the 10-year Treasury note increased 27/32, bringing its yield down to 0.724%. The price of the 30-year Treasury bond climbed 1 5/32, decreasing its yield to 1.511%.
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Social Security Announces COLA for 2021
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In addition, the maximum amount of earnings subject to Social Security tax—used to determine the taxable wage base for permitted disparity in DC plan contributions—will increase. 
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ON THIS DATE: In 1912, before a campaign speech in Milwaukee, Wisconsin, presidential candidate Theodore Roosevelt was shot at close range by saloonkeeper John Schrank while greeting the public in front of the Gilpatrick Hotel. In 1926, the book “Winnie-the-Pooh,” by A.A. Milne, made its debut. In 1943, the Radio Corporation of America finalized the sale of the NBC Blue radio network. Edward J. Noble paid $8 million for the network that was renamed American Broadcasting Company. In 1947, U.S. Air Force Captain Chuck Yeager became the first person to fly faster than the speed of sound. In 1957, “Wake Up Little Susie” became the Everly Brothers’ first No. 1 hit. In 1964, Dr. Martin Luther King, Jr. was awarded the Nobel Peace Prize for his nonviolent resistance to racial prejudice in America. At age 35, he was the youngest person ever to receive the award. In 1968, the first live telecast to come from a manned U.S. spacecraft was transmitted from Apollo 7.
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WEDNESDAY WISDOM: “Life appears to me too short to be spent in nursing animosity, or registering wrongs.”—Charlotte Bronte, English novelist and poet
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