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October 18th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
In the week ending October 12, the advance figure for seasonally adjusted initial jobless claims was 241,000, a decrease of 19,000 from the previous week’s revised level of 260,000, the Department of Labor reported. The four-week moving average was 236,250, an increase of 4,750 from the previous week’s revised average of 231,500.
Interest on a 30-year fixed-rate mortgage averaged 6.44% for the week ending October 17, up from last week when it averaged 6.32%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 7.63%. Interest on a 15-year fixed-rate mortgage averaged 5.63%, up from last week when it averaged 5.41%. A year ago at this time, the 15-year FRM averaged 6.92%.
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| MARKET MIRROR |
Thursday, the Dow rose 161.35 points (0.37%) to close at 43,239.05, the Nasdaq rose 6.53 points (0.04%) to close at 18,373.61 and the S&P 500 fell 1.00 point (0.02%) to close at 5,841.47. The Russell 2000 lost 5.82 points (0.25%) to close at 2,280.85, and the FT Wilshire 5000 Index lost 19.55 points (0.03%) to close at 58,547.78.
The 10-year Treasury note decreased 7/32, bringing the yield to 4.096%. The 30-year Treasury bond decreased 1 28/32, bringing the yield to 4.398%.
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PRODUCTS
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Product and Service Launches
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Diamond Hill launches Core Plus Bond Strategy; Rockefeller Asset Management expands active ETF lineup with small-mid-cap ETF, RSMC; PensionPro, Dynamis provide real-time data access to TPAs; and more. 
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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 U.S. purchase of the Russian colony of Alaska was approved, and the U.S. flag was flown over the capital, Sitka. In 1931, Thomas Edison, who was especially known for his critical role in introducing the modern age of electricity, died in West Orange, New Jersey. In 1939, Lee Harvey Oswald, the accused assassin of 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 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; ultimately, she was assassinated in December.
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