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| Products, Deals and People | |
| Providers Partner on Pharmacy Cost Control Solution | |
| A new solution created by Mercer in partnership with Envolve Pharmacy Solutions and Magellan Rx Management aims to deliver highly competitive specialty drug pricing and targeted clinical management options to employer-sponsored health programs.Read more > | |
| Economic Events | |
| New orders for manufactured durable goods in August, up two consecutive months, increased $0.3 billion or 0.1% to $227.3 billion, up from the previously published virtually unchanged decrease, the Census Bureau announced. This followed a 3.6% July increase. Transportation equipment, also up two consecutive months, drove the increase, $0.6 billion or 0.7% to $78.2 billion. New orders for manufactured nondurable goods increased $0.4 billion or 0.2% to $225.9 billion. | |
| Sponsored message from American Century | |
| Advance Your Approach to Target-Date Evaluation & Selection Overview of four common labels to better compare TDFs – and advance the manager selection process.Read more > | |
| Market Mirror | |
Wednesday, the Dow climbed 112.58 points (0.62%) to 18,281.03, the NASDAQ closed 26.36 points (0.50%) higher at 5,316.02, and the S&P 500 increased 9.24 points (0.43%) to 2,159.73. The Russell 2000 was up 8.60 points (0.69%) at 1,248.37, and the Wilshire 5000 gained 101.76 points (0.45%) to finish at 22,494.17. On the NYSE, 3.1 billion shares traded, with 3 advancing issues for every 2 declining issues. On the NASDAQ, 2.9 billion shares changed hands, with a more than 2 to 1 lead for advancers. The price of the 10-year Treasury note was down 7/32, increasing its yield to 1.711%. The price of the 30-year Treasury bond decreased 10/32, bringing its yield up to 2.427%. | |
| Compliance | |
| Lawsuit a Warning That Small 401(k)s Should Hire Expertise | |
| Participants in the Emerald Coast Eye Institute (ECEI) 401(k) plan have filed a lawsuit alleging that the company and its founder Samuel Poppell breached their fiduciary duties of prudence under the Employee Retirement Income Security Act (ERISA) by not properly diversifying investments. The lawsuit alleges fiduciary breaches for holding 401(k) plan assets mostly in one company stock and notes that the plan’s trustee had “no meaningful expertise” in portfolio management.Read more > | |
| Lawsuit Dropped After Contractor Pays 401(k) Plan Contributions | |
| The U.S. Department of Labor (DOL) has filed a proposed order of dismissal of a lawsuit in which it alleged a government contractor failed to make required contributions to its 401(k) plan. B.C. Inc. restored to the plan unremitted employer contributions, with lost earnings, totaling approximately $149,904.Read more > | |
| Investing | |
| Preference for Low Interest Rates Could Hurt Long-Term Investing | |
| When investors were asked to choose whether low interest rates or high interest rates are better for their own financial situation today, 63% of all surveyed say they prefer low interest rates. “Most people who are not yet retired have a consumer mindset when they consider the benefit of low rates because they like their loans to cost less. However, people must also consider the impact of low rates on long-term investing,” says George Rusnak, co-head of global fixed income strategy for Wells Fargo Investment Institute.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1683, the first Mennonites arrived in America aboard the Concord. The German and Dutch families settled in an area that is now a neighborhood in Philadelphia, Pennsylvania. In 1847, “Jane Eyre” by Charlotte Bronte was first published in London. In 1866, the Reno Brothers pulled the first train robbery in America near Seymour, Indiana. They got away with $10,000. In 1889, the Kinescope was exhibited by Thomas Edison. He had patented the moving picture machine in 1887. In 1949, U.S. president Harry Truman signed the Mutual Defense Assistance Act. The act provided $1.3 billion in the form of military aid to NATO countries. In 1961, U.S. president John F. Kennedy advised American families to build or buy bomb shelters to protect them in the event of a nuclear exchange with the Soviet Union. | |
| SURVEY SAYS: I like all genres of music; it would be hard to pick just one to listen to if I had to choose. This week, I’d like to know, if you could listen to ONLY ONE type of music for one full year, which would you choose? You may respond to this week’s survey by 6 p.m. Pacific time today.Read more > | |
| Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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