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October 17th, 2019
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
The combined value of distributive trade sales and manufacturers’ shipments for August, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,463.9 billion, up 0.2% from July and up 1.1% from August 2018, the Census Bureau reported.
Advance estimates of U.S. retail and food services sales for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $525.6 billion, a decrease of 0.3% from the previous month, but 4.1% above September 2018. Total sales for the July through September period were up 4.0% from the same period a year ago. Retail trade sales were down 0.3% from August, but 4.0% above last year. Nonstore retailers were up 12.9% from September 2018, and miscellaneous stores were up 9.3% from last year.
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| Market Mirror |
Wednesday, the Dow was decreased 22.82 points (0.08%) to 27,001.98, the NASDAQ closed 24.52 points (0.30%) lower at 8,124.18, and the S&P 500 was down 5.99 points (0.20%) at 2,989.69. The Russell 2000 slipped 1.76 points (0.12%) to 1,525.06, and the Wilshire 5000 lost 73.33 points (0.24%) to finish at 30,450.91.
The prices of the 10-year Treasury note and 30-year Treasury bond each were up 2/32, decreasing their yields to 1.748% and 2.229%, respectively.
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ON THIS DATE: In 1835, Texans approved a resolution to create the Texas Rangers, a corps of armed and mounted lawmen designed to “range and guard the frontier between the Brazos and Trinity Rivers.” In 1888, the first issue of “National Geographic Magazine” was released at newsstands. In 1933, “News-Week” appeared for the first time at newsstands. The name was later changed to “Newsweek.” In 1968, Olympic gold medalist Tommie Smith and bronze medalist John Carlos were forced to return their awards because they raised their fists in a black-power salute during the medal ceremony. In 1973, the Organization of Petroleum Exporting Countries (OPEC) began an oil-embargo against several countries including the U.S. and Great Britain. The incident stemmed from Western support of Israel when Egypt and Syria attacked the nation on October 6, 1973. In 1978, President Carter signed a bill that restored full U.S. citizenship rights to Confederate President Jefferson Davis. In 1979, Mother Teresa was awarded the Nobel Peace Prize.
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