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October 24th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Conference Board will reveal the Consumer Confidence Index for October. Wednesday, the Census Bureau will report new home sales for September. Thursday, the Labor Department will issue its initial jobless claims report, Freddie Mac will update average mortgage rates for the week and the Census Bureau will report new orders for manufactured durable goods for September.
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| MARKET MIRROR |
Friday, the Dow increased 748.97 points (2.47%) to finish trading at 31,082.56, the Nasdaq gained 244.87 points (2.31%) to close at 10,859.72 and the S&P 500 increased 86.97 points (2.37%) to close at 3,752.75. The Russell 2000 gained 37.85 points (2.22%) to close at 1,724.24 and the Wilshire 5000 increased 829.60 points (2.27%) to end trading at 37,419.45.
The price of the 10-year Treasury note increased 1/32 bringing the yield down to 4.224%. The price of the 30-year Treasury bond decreased 1 28/32 bringing the yield up to 4.335%.
For the week ending October 21, the Dow increased 4.89%, the Nasdaq gained 5.22% and the S&P 500 was up 4.74%. The Russell 2000 increased 2.49% and the Wilshire 5000 finished 4.59% higher.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Allianz Trade announces CEO leadership change; BNY Mellon Investor Solutions names head of responsible investing; DWS appoints Americas CEO; and more. 
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EVENTS
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Exploring ESG Investing Conference
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Join us Thursday, November 10, for a virtual conference to learn about regulations for environmental, social and governance investing in retirement plans; the debate over whether ESG factors are financial/performance factors; and what allocators, plan sponsors and advisers should consider when deciding whether and how to use ESG investments.
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SURVEYS
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DC Survey Now Open
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For more than 20 years, PLANSPONSOR’s annual Defined Contribution Survey has provided benchmarking data for nearly 50 industries/business sectors and for 401(k), 403(b), and other DC plans, as well as nonqualified plans. Represent your industry and plan type by participating, and you’ll receive a free benchmarking report.
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ON THIS DATE: In 1795, territories of the former Polish-Lithuanian Commonwealth—later the country of Poland—were divided between Austria, Prussia and Russia. In 1861, workers of the Western Union Telegraph Company linked the eastern and western telegraph networks of the nation at Salt Lake City, completing a transcontinental line that for the first time allowed instantaneous communication between Washington, D.C., and San Francisco. In 1929, a record 12,894,650 shares of stock were traded, causing the first day of real panic in the Crash of 1929, known as “Black Thursday.” In 1940, the 40-hour workweek went into effect under the U.S. Fair Labor Standards Act of 1938. In 1945, the charter for the United Nations—the international organization established at the end of World War II to maintain world peace and friendly relations among nations—entered into force. In 1956, Reverend Margaret Towner became the first woman ordained a minister in the Presbyterian Church. In 1992, the Toronto Blue Jays defeated the Atlanta Braves to become the first team not based in the U.S. to win the World Series. In 2003, supersonic passenger service ended as British Airways flew its last Concorde flight; Air France had ceased similar operations in May.
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