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September 19th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Census Bureau will report housing starts for August. Wednesday, the National Association of Realtors will report existing home sales for August. Thursday, the Labor Department will issue its initial jobless claims report and Freddie Mac will update average mortgage rates for the week.
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Friday, the Dow dropped 139.40 points (0.45%) to close at 30,822.42, the Nasdaq sagged 103.95 points (0.90%) to end trading at 11,448.404 and the S&P 500 slipped 28.02 points (0.72%) to close at 3,873.33. The Russell 2000 lost 27.04 points (1.48%) to close at 1,798.19 and the Wilshire 5000 decreased 372.34 points (0.95%) to end at 38,750.52.
The price of the 10-year Treasury note was unchanged and the yield remained 3.453%. The price of the 30-year Treasury bond decreased 31/32, bringing the yield up to 3.521%.
For the week ending September 16, the Dow was down 4.13%, the Nasdaq fell 5.48% and the S&P 500 lost 4.79%. The Russell 2000 decreased 4.50% and the Wilshire 5000 ended the week 4.87% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Summary Robeco appoints global head of sales and marketing; Franklin Templeton transitions 403(b) business to PCS Retirement’s Aspire platform; eMoney announces leadership team additions; and more. 
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EVENTS
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What to Expect From a Retirement Plan Adviser
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Join PLANSPONSOR and a panel of experts for a webinar on September 22 as they discuss what services advisers offer to retirement plans; how plan sponsors determine the role they want their advisers to play; and questions to ask when searching for a plan adviser. Panelists will also talk about the fiduciary roles advisers can take on for the plan and the relationship between advisers and plan providers.
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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 1796, George Washington, in his Farewell Address—printed in a Philadelphia newspaper—implored the U.S. to maintain neutrality and avoid entangling alliances with Europe. In 1893, with the signing of the Electoral Bill by Governor Lord Glasgow, New Zealand became the first country in the world to grant national voting rights to women. The bill was the outcome of years of suffragette meetings in towns and cities across the country, with women often traveling considerable distances to hear lectures and speeches, pass resolutions and sign petitions. In 1955, Argentina President Juan Peron was ousted after a revolt by the army and navy. In 1970, the first episode of the sitcom “The Mary Tyler Moore Show” aired on television; the groundbreaking series starred Mary Tyler Moore as a single independent working woman at a time when female characters were defined as the wife, girlfriend or widow of a male counterpart. In 2003, news reports surfaced that AOL Time Warner was going to drop “AOL” from its name and be known as Time Warner Inc. In 2011, Panamanian Major League Baseball pitcher Mariano Rivera registered his record-setting 602nd career save; when he retired in 2013, Rivera had an unprecedented 652 saves and was considered the sport’s greatest relief pitcher.
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