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October 2nd, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Monday, the Census Bureau will report new construction spending for August. Wednesday, the Census Bureau will report new factory orders for August. Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week.
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| MARKET MIRROR |
Friday, the Dow fell 158.84 points (0.47%) to close at 33,507.50, the Nasdaq rose 18.05 points (0.14%) to close at 13,219.32 and the S&P 500 fell 11.65 points (0.27%) to close at 4,288.05. The Russell 2000 fell 9.21 points (0.51%) to close at 1,785.10, and the FT Wilshire 5000 Index fell 108.29 points (0.25%) to close at 43,249.30.
The 10-year Treasury note was unchanged, bringing the yield to 4.579%. The 30-year Treasury bond was unchanged, bringing the yield to 4.703%.
For the week ending September 30, the Dow fell 1.34%, the Nasdaq rose 0.06% and the S&P 500 fell 0.74%. The Russell 2000 rose 0.48 %, and the FT Wilshire 5000 Index ended 0.55% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Joe Urwitz joins Crowell & Moring; Cognizant announces Dalal as CFP; Advisor360 appoints Fanning to board of directors. 
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ON THIS DATE: In 1780, John André, a British army officer, was executed by Americans as a spy after conducting secret meetings with American General Benedict Arnold during the American Revolution. In 1836, Naturalist Charles Darwin returned to England after a five-year journey, on which he gathered the specimens and observations that led to his theory of evolution by natural selection. In 1919, President Woodrow Wilson, who had just cut short a tour of the country to promote the formation of the League of Nations, suffered a stroke. In 1935, Ethiopian Emperor Haile Selassie ordered mobilization upon learning that Italian forces had crossed the frontier to begin the Italo-Ethiopian War. In 1957, the British-American war film “The Bridge on the River Kwai” premiered. It later won the Academy Award for best picture. In 1959, the science fiction anthology TV series created by Rod Serling “The Twilight Zone” debuted and became hugely popular, known for its unexpected plot twists and moral lessons.. In 1967, lawyer and civil rights activist Thurgood Marshall was sworn in as an associate justice of the U.S. Supreme Court, becoming its first Black member. In 1985, actor Rock Hudson died, becoming one of the first Hollywood celebrities known to succumb to AIDS-related complications; the extensive publicity surrounding his death drew attention to the disease. In 2005, Pulitzer Prize-winning playwright August Wilson—known for a cycle of plays, each set in a different decade of the 20th century, about Black American life—died at age 60. In 2017, singer and songwriter Tom Petty, whose roots-oriented guitar rock resulted in a string of hit singles and albums, died at age 66. In 2020, amid a resurgence of the coronavirus pandemic, President Donald Trump announced that he and First Lady Melania Trump tested positive for COVID-19.
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