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October 3rd, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Monday, the Census Bureau will report construction spending for August. Tuesday, the Census Bureau will reveal factory orders for August. Thursday, the Labor Department will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week. Friday, the Bureau of Labor Statistics will report total nonfarm payroll employment for September and the unemployment rate for September.
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| MARKET MIRROR |
Friday, the Dow lost 500.10 points (1.71%) to close at 28,725.51, the Nasdaq was down 161.89 points (1.51%) to end trading at 10,575.619 and the S&P 500 fell 54.85 points (1.51%) to close at 3,585.62. The Russell 2000 lost 10.21 points (0.61%) to close at 1,664.72 and the Wilshire 5000 was down 490.07 points (1.35%) to close at 35,883.85.
The price of the 10-year Treasury note decreased 2/32 bringing the yield up to 3.816%. The price of the 30-year Treasury bond was down 9/32 bringing the yield up to 3.779%.
For the week ending September 30, the Dow decreased 2.92%, the Nasdaq fell 2.69% and the S&P 500 lost 2.91%. The Russell 2000 was down 0.89% and the Wilshire 5000 finished 2.46% lower.
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DEALS AND PEOPLE
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DEALS AND PEOPLE
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Marsh McLennan names president and CEO; Lenox Advisors appoints SVP of finance and operations; Katten names former SEC senior counsel as partner; and more. 
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EVENTS, SURVEYS
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Webinar: Your HSA Questions Answered
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Join PLANSPONSOR and industry experts for a webinar October 13 during which you will increase your understanding of health savings accounts by comparing features to those of defined contribution plans, learn how to position HSAs on your menu of benefits, and hear tips for increasing employee engagement with HSAs. Register today.
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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 1863, President Lincoln declared that the last Thursday of November would be recognized as Thanksgiving Day. In 1922, Rebecca L. Felton became the first female to hold the office of U.S. Senator. She was appointed by Governor Thomas W. Hardwick of Georgia to fill a vacancy. In 1952, the first British atomic weapons test, called Hurricane, was successfully conducted aboard the frigate HMS Plym. In 1974, Frank Robinson became manager of the Cleveland baseball team. He was the first Black manager in Major League Baseball. In 1990, after four decades of Cold War division and with pressure from the German chancellor Helmut Kohl, Soviet leader Mikhail Gorbachev agreed to a unified Germany within NATO, leading to Germany’s reunification. In 1995, at the end of a sensational trial, former football star O.J. Simpson was acquitted of the brutal 1994 double murder of his estranged wife, Nicole Brown Simpson, and her friend, Ronald Goldman. In 2006, the Dow Jones industrial average closed at a new high ending the day at 11,727.34. Earlier in the session, the Dow had risen to 11,758.95.
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