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October 27th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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ECONOMIC EVENTS |
Sales of new single‐family houses in September were at a seasonally adjusted annual rate of 603,000, according to the Census Bureau and the Department of Housing and Urban Development. This is 10.9 % below the revised August rate of 677,000 and is 17.6% below the September 2021 estimate of 732,000.
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MARKET MIRROR |
Wednesday, the Dow gained 2.37 points (0.01%) to close at 31,839.11, the Nasdaq lost 228.12 points (2.04%) to close at 10,970.99 and the S&P 500 decreased 28.51 points (0.74%) to end at 3,830.60. The Russell 2000 lost 8.18 points (0.46%) to close at 1,804.33 and the Wilshire 5000 was down 240.96 points (0.63%) to close at 38,261.63.
The price of the 10-year Treasury note increased 7/32 lowering the yield to 4.017%. The price of the 30-year Treasury bond increased 1 28/32 lowering the yield to 4.155%.
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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 1775, King George III spoke before both houses of the British Parliament to discuss growing concern about the rebellion in America, which he viewed as a traitorous action against himself and Great Britain. In 1825, the Erie Canal opened, connecting the Great Lakes with the Atlantic Ocean via the Hudson River. In 1881, a feud between the Earp brothers (Wyatt, Virgil and Morgan) and an outlaw gang led by Ike Clanton escalated into a gunfight at the O.K. Corral in Tombstone, Arizona Territory. In 1911, Mahalia Jackson, a gospel singer often referred to as “The Queen of Gospel,” was born. In 1947, Hillary Clinton—former Secretary of State, Senator from New York and First Lady—was born. In 1990, Wayne Gretzky became the first NHL player to reach 2,000 points. In 2017, the Chicago White Sox defeated the Houston Astros to win the team’s first World Series title since 1917.
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