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| Products, Deals and People | |
| Wolters Kluwer Streamlines Distribution Process with Tracking Software | |
| Along with other features, the software can automate tasks usually performed manually.Read more > | |
| Economic Events | |
| Privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,201,000, the Census Bureau reported. This is 5.3% below the revise August estimate of 1,268,000, but is 3.7% above the September 2017 rate of 1,158,000. Single‐family housing starts in September were at a rate of 871,000; this is 0.9% below the revised August figure of 879,000. The September rate for buildings with five units or more was 324,000. | |
| Sponsored message from J.P. Morgan | |
| Help your employees understand their Social Security benefits Invite your employees to a live event with J.P. Morgan’s Sharon Carson, Retirement Strategist, and Tana Seward, Relationship Manager, to help understand the top things they should know about their Social Security benefits.Read more > | |
| Market Mirror | |
Wednesday, the Dow closed 91.74 points (0.36%) lower at 25,706.68, the NASDAQ was down 2.79 points (0.04%) at 7,642.70, and the S&P 500 was virtually unchanged at 2,809.21. The Russell 2000 lost 7.23 points (0.45%) to finish at 1,589.60, and the Wilshire 5000 decreased 26.18 points (0.09%) to 29,056.22. The price of the 10-year Treasury note was down 6/32, increasing its yield to 3.190%. The price of the 30-year Treasury bond decreased 20/32, bringing its yield up to 3.369%. | |
| Compliance | |
| IRS Identifies Retirement Plan Compliance Strategies for 2019 | |
| The agency will give greater scrutiny to retirement plan distributions and 403(b) universal availability rules, among other things.Read more > | |
| Appellate Court Revives Putnam Self-Dealing Suit | |
| In a case alleging disloyalty and imprudence against fiduciaries of Putnam Investment’s 401(k) plan, the 1st U.S. Circuit Court of Appeals ruled, “Finding several errors of law in the district court’s rulings, we vacate the district court’s judgment in part and remand for further proceedings.” The Appellate Court revived a prohibited transaction claim and duty of prudence claims, but left dismissed duty of loyalty claims.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1767, the Mason-Dixon line was agreed upon. It was the boundary between Maryland and Pennsylvania. In 1842, Samuel Finley Breese Morse laid his first telegraph cable. In 1867, the U.S. took formal possession of Alaska from Russia. The land was purchased of a total of $7 million dollars (2 cents per acre). In 1873, the first rules for intercollegiate football were drawn up by representatives from Rutgers, Yale, Columbia and Princeton Universities. In 1892, the first long-distance telephone line between Chicago and New York City was opened. In 1898, the American flag was raised in Puerto Rico one year after the Caribbean nation won its independence from Spain. In 1943, the first broadcast of “Perry Mason” was presented on CBS Radio. In 1967, the American League granted permission for the A’s to move to Oakland. Also, new franchises were awarded to Kansas City and Seattle. In 1968, two black athletes, Tommie Smith and John Carlos, were suspended by the U.S. Olympic Committee for giving a “black power” salute during a ceremony in Mexico City. In 1977, Reggie Jackson tied Babe Ruth’s record for hitting three homeruns in a single World Series game. In 1997, a monument honoring U.S. servicewomen, past and present, was dedicated at Arlington National Cemetery. | |
| SURVEY SAYS: Halloween parties are not my favorite, but I usually get invited to one. This week, I’d like to know, is there a Halloween party on your schedule this year, and does it require dressing in costume? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | |
| Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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