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October 25th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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ECONOMIC EVENTS |
In the week ending October 19, the advance figure for seasonally adjusted initial claims was 227,000, a decrease of 15,000 from the previous week’s revised level of 242,000, the Department of Labor reported. The four-week moving average was 238,500, an increase of 2,000 from the previous week’s revised average of 236,500.
Interest on a 30-year fixed-rate mortgage averaged 6.54% for the week ending October 24, up from last week when it averaged 6.44%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 7.79%. Interest on a 15-year fixed-rate mortgage averaged 5.71%, up from last week when it averaged 5.63%. A year ago at this time, the 15-year FRM averaged 7.03%.
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MARKET MIRROR |
Thursday, the Dow fell 140.59 points (0.33%) to close at 42,374.36, the Nasdaq rose 138.83 points (0.76%) to close at 18,415.49 and the S&P 500 rose 12.44 points (0.21%) to close at 5,809.86. The Russell 2000 rose 5.08 points (0.23%) to close at 2,218.92, and the FT Wilshire 5000 Index rose 133.18 points (0.23%) to close at 58,128.09.
The 10-year Treasury note increased 2/32, bringing the yield to 4.217%. The 30-year Treasury bond increased 31/32, bringing the yield to 4.475%.
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PRODUCTS
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Product & Service Launches
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OneDigital launches new benefits platform; Transamerica managed advice available for contractors PEP; Gainbridge annuities available to RIAs via RetireOne; and more.
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ON THIS DATE: In 1881, Spanish painter, sculptor, printmaker, ceramicist and theater designer Pablo Picasso was born. In 1936, German and Italy established the Rome-Berlin Axis. In 1940, military officer Benjamin O. Davis, Sr., became the first African American general in the U.S. Army when he was promoted to brigadier general. The same year, collegiate basketball coach Bob Knight, whose 902 career NCAA coaching victories are among the most in men’s basketball history, was born. In 1950, China entered the Korean War on the side of North Korea against South Korea and the United Nations, the United States being the UN’s principal participant. In 1955, the first domestic microwave ovens went on sale. In 1964, the British rock band the Rolling Stones made its first appearance on “The Ed Sullivan Show.” In 1983, the U.S. military, under President Ronald Reagan, invaded the tiny island country of Grenada. In 2002, Irish actor Richard Harris—who was notable for not only his formidable talent in portraying intense characters that established his image but also for conducting his real life in a similar manner—died in London.
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