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October 18th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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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 $1,857.2 billion, up 1.3% from July 2023 and was up 0.2% from August 2022, the Census Bureau announced.
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| MARKET MIRROR |
Tuesday, the Dow rose 13.11 points (0.04%) to close at 33,997.65, the Nasdaq fell 34.24 points (0.25%) to close at 13,533.75 and the S&P 500 fell 0.43 points (0.01%) to close at 4,373.20. The Russell 2000 gained 18.98 points (1.09%) to close at 1,766.05, and the FT Wilshire 5000 Index gained 49.10 points (0.11%) to close at 43,987.31.
The 10-year Treasury note decreased 31/32, bringing the yield to 4.834%. The 30-year Treasury bond decreased 1 1/32, bringing the yield to 4.931%.
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AWARDS
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Help Your Plan Adviser Get Recognized
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Do you work with a great plan adviser? Nominate your plan adviser today for the 2024 Retirement Plan Adviser of the Year awards. Nominations for the Plan Sponsor Service, Plan Participant Service and 403(b) Plan Service categories can only come from plan sponsor clients, so we need your help in identifying the best in the business. 
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ON THIS DATE: In 1867, after much opposition, a deal negotiated by U.S. Secretary of State William Seward for the purchase of the Russian colony of Alaska was approved, and the U.S. flag was flown over the capital, Sitka. In 1898, Puerto Rico was turned over to the U.S. following the Spanish-American War. In 1922, the British Broadcasting Company, Ltd., was established, to be replaced by the British Broadcasting Corporation (BBC) in 1927. In 1931, inventor Thomas Edison, who was especially known for his critical role in introducing the modern age of electricity, died in West Orange, New Jersey at age 84. In 1939, Lee Harvey Oswald, the accused assassin of U.S. President John F. Kennedy, was born in New Orleans. In 1956, tennis player Martina Navratilova—who dominated the sport in the late 20th century, winning 18 Grand Slam singles titles—was born in Prague. In 1961, the acclaimed musical film “West Side Story,” an adaptation of a Broadway play, was released in American theaters; it won 10 Academy Awards, including that for best picture. In 1988, the sitcom “Roseanne,” starring Roseanne Barr, premiered on ABC. In 2007, after eight years of self-imposed exile, Benazir Bhutto—who, as two-time prime minister of Pakistan, was the first woman leader of a Muslim nation in modern history—returned to her home country, and hours later she was nearly killed when her motorcade was bombed in Karachi; she was assassinated in December 2007.
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