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October 7th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
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ECONOMIC EVETNS |
Friday, the U.S. Bureau of Labor Statistics reported total nonfarm payroll employment increased by 254,000 in September, and the unemployment rate changed little at 4.1%.
Thursday, the Department of Labor will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week.
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MARKET MIRROR |
Friday, the Dow rose 341.75 points (0.81%) to close at 42,352.75, the Nasdaq rose 219.38 points (1.22%) to close at 18,137.85 and the S&P 500 was higher by 51.13 points (0.90%) to close at 5,751.07. The Russell 2000 rose 32.65 points (1.50%) to close at 2,212.80, and the FT Wilshire 5000 Index rose 555.10 points (0.97%) to close at 57,538.64.
The 10-year Treasury note dropped 32/32, bringing the yield to 3.970%. The 30-year Treasury bond fell 1 24/32, bringing the yield to 4.254%.
In the week ending October 4, the Dow rose 0.09%, the Nasdaq rose 0.10% and the S&P 500 gained 0.22%. The Russell 2000 lost 0.53%, and the FT Wilshire 5000 Index finished 0.21% higher.
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Deals and People
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Retirement Industry People Moves
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T. Rowe Price names Thomson head of new investment institute; Nationwide hires East Coast institutional sales head; 401GO hires chief of staff; and more.
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In 1765, the Stamp Act Congress convened in New York City to frame resolutions of “rights and grievances” of the American colonies. In 1826, the Granite Railway, the first chartered railroad in the United States, began service. In 1849, American short-story writer, poet, and critic Edgar Allan Poe died in Baltimore, Maryland. In 1934, playwright, poet, novelist, and essayist Amiri Baraka, who wrote of the experiences and anger of African Americans, was born. In 1952, Russian politician Vladimir Putin, who served as president and prime minister of Russia, was born. In 1955, cellist Yo-Yo Ma, who was known for his extraordinary technique and rich tone, was born in Paris. In 1971, the movie, The French Connection, directed by William Friedkin and starring Gene Hackman, had its world premieres in New York City and Los Angeles; the movie, which won the Oscar for best picture, is especially known for featuring one of the most exciting and iconic car chases in cinematic history. In 2001, triggered by the September 11 attacks, the Afghanistan War began, as U.S. and British warplanes started bombing Taliban targets.
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