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October 16th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Census Bureau will report retail sales and U.S. business inventories for September. Wednesday, the Census Bureau will report new housing starts for September. Thursday, the Department of Labor will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the National Association of Realtors will report existing home sales for September.
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| MARKET MIRROR |
Friday, the Dow rose 39.15 points (0.12%) to close at 33,670.29, the Nasdaq lost 166.99 points (1.23%) to close at 13,407.23 and the S&P 500 lost 21.83 points (0.50%) to close at 4,327.28. The Russell 2000 lost 14.54 points (0.84%) to close at 1,719.71, and the FT Wilshire 5000 Index lost 242.00 points (0.55%) to close at 43,443.48.
The 10-year Treasury note rose 28/32, bringing the yield to 4.627%. The 30-year Treasury bond rose 1 4/32, bringing the yield to 4.766%.
For the week ending October 13, the Dow rose 0.79%, the Nasdaq lost 0.18% and the S&P 500 rose 0.44%. The Russell 2000 fell 1.48%, and the FT Wilshire 5000 Index ended 0.26% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Vestwell appoints Rettig to board seat; Star Mountain Capital names DeAngelis as senior adviser; Club Vita names Gleed as head of U.S. business development. 
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UpFront
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The Pluses and Pitfalls of SWPs
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Retirees can benefit from a systematic withdrawal feature, if they are careful of how they draw their savings down.
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ON THIS DATE: In 1793, Marie Antoinette, who had been queen of France before the French Revolution began, was found guilty of high treason and other charges by the Revolutionary Tribunal and was executed by guillotine. In 1846, William Thomas Green Morton first demonstrated the use of ether as a general anesthetic before a gathering of physicians at Massachusetts General Hospital in Boston. In 1859, John Brown, a militant abolitionist, made his legendary raid on the U.S. arsenal at Harpers Ferry. In 1888, dramatist Eugene O’Neill, winner of the Nobel Prize for Literature in 1936, was born in New York City. In 1916, Margaret Sanger, an activist for women’s reproductive rights, opened the first birth control clinic in the U.S., in Brooklyn, New York. In 1946, 10 of the 12 defendants sentenced to death at the Nürnberg trials, including Joachim von Ribbentrop and Ernst Kaltenbrunner, were executed. In 1964, China successfully detonated its first atomic bomb. In 1968, during the awards ceremony for the 200-meter race at the Mexico City Olympics, American sprinters Tommie Smith and John Carlos gave a Black-power salute, for which they were later ordered to leave the games. In 1978, Karol Józef Wojtyła of Poland was elected pope; he assumed the name John Paul II and was the first non-Italian pontiff in 455 years.
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