|
September 15th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
In the week ending September 9, the advance figure for seasonally adjusted initial claims was 220,000, an increase of 3,000 from the previous week’s revised level of 217,000, the Department of Labor reported. The four-week moving average was 224,500, a decrease of 5,000 from the previous week’s revised average of 229,500.
Interest on a 30-year fixed-rate mortgage averaged 7.18% for the week ending September 14, up from last week when it averaged 7.12%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 6.02%. Interest on a 15-year fixed-rate mortgage averaged 6.51%, down from last week when it averaged 6.52%. A year ago at this time, the 15-year FRM averaged 5.21%.
The Producer Price Index for final demand increased 0.7% in August, the Bureau of Labor Statistics announced. Prices for final demand goods rose 2.0%, and the index for final demand services advanced 0.2%. Prices for final demand moved up 1.6% for the 12 months ended in August.
The combined value of distributive trade sales and manufacturers’ shipments for July, adjusted for seasonal and trading day differences but not for price changes, was estimated at $1,828.4 billion, up 0.6% from June 2023, but was down 1.2% from July 2022, the Census Bureau reported.
|
|
|
|
| MARKET MIRROR |
Thursday, the Dow rose 331.58 points (0.96%) to close at 34,907.11, the Nasdaq rose 112.47 points (0.81%) to close at 13,926.05 and the S&P 500 rose 37.66 points (0.84%) to close at 4,505.10. The Russell 2000 gained 25.79 points (1.40%) to close at 1,866.63, and the FT Wilshire 5000 gained 387.17 points (0.86%) to close at 45,382.72.
The 10-year Treasury note increased 1/32, bringing the yield to 4.296%. The 30-year Treasury bond increased 1/32, bringing the yield to 4.386%.
|
|
|
|
|
|
|
|
|
|
|
|
ON THIS DATE: In 1821, the Act of Independence of Central America was passed; Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua declared their independence from the Spanish Empire. In 1916, the tank was used for the first time in combat, by the British during World War I. In 1935, the Nuremberg Laws, among the first pieces of racist Nazi legislation that would culminate in the Holocaust, were passed in Germany. Designed by Adolf Hitler, they deprived Jews of German citizenship and forbade marriage and sexual relationships between Jews and “citizens of German or kindred blood.” In 1950, United Nations troops landed at Incheon, South Korea, crippling a North Korean invasion during the Korean War. In 1963, members of the Ku Klux Klan bombed the predominantly African–American 16th Street Baptist Church in Birmingham, Alabama, killing four girls. In 1978, Muhammad Ali won the world heavyweight boxing championship for the third time with his victory over Leon Spinks In 2004, rock guitarist Johnny Ramone—who cofounded the Ramones, a band that influenced the rise of punk rock on both sides of the Atlantic Ocean—died at age 55.
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
Copyright ©2024 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
|
|
702 King Farm Boulevard, Suite 300, Rockville, MD 20850
|
|
|
