|
September 20th, 2024
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
In the week ending September 14, the advance figure for seasonally adjusted initial claims was 219,000, a decrease of 12,000 from the previous week’s revised level of 231,000, the Department of Labor reported. The four-week moving average was 227,500, a decrease of 3,500 from the previous week’s revised average of 231,000.
Interest on a 30-year fixed-rate mortgage averaged 6.09% for the week ending September 19, down from last week when it averaged 6.20%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 7.19%. Interest on a 15-year fixed-rate mortgage averaged 5.15%, down from last week when it averaged 5.27%. A year ago at this time, the 15-year FRM averaged 6.54%.
|
|
|
|
| MARKET MIRROR |
Thursday, the Dow rose 522.09 points (1.26%) to close at 42,025.19, the Nasdaq rose 440.68 points (2.51%) to close at 18,013.98 and the S&P 500 rose 95.38 points (1.70%) to close at 5,713.64. The Russell 2000 rose 46.37 points (2.10%) to close at 2,252.71, and the FT Wilshire 5000 Index rose 979.27 (1.74%) to close at 57,242.99.
The 10-year Treasury note decreased 1/32, bringing the yield to 3.715%. The 30-year Treasury bond decreased 4/32, bringing the yield to 4.050%.
|
|
|
|
PRODUCTS
|
|
Product and Services Launches
|
FinFit partners with Sunny Day Fund to add emergency savings accounts; Equitable enhances flagship retirement solution for K-12 educators; Munich Re launches longevity reinsurance product for US and Canada markets; and more. 
|
|
|
EVENTS
|
|
2024 Plan Sponsors in Conversation
|
|
Join to hear PLANSPONSOR Plan Sponsor of the Year finalists and winners share stories of success in communication and participant engagement, financial wellness and retirement readiness, and address the ever-present issue of helping participants create retirement income.
|
|
|
|
|
ON THIS DATE: In 1792, the French Legislative Assembly was replaced by the National Convention, marking the formal beginning of the First Republic. In 1870, Italian troops occupied Rome, leading to the eventual incorporation of Rome into the Kingdom of Italy and the limiting of papal governing authority to the Vatican itself and a small district around it. In 1886, the South African city of Johannesburg was founded. In 1946, delayed because of World War II, the first Cannes film festival began, and it became one of cinema’s major annual events. In 1973, in a much publicized “Battle of the Sexes” tennis match, Billie Jean King defeated Bobby Riggs. In 1998, professional baseball player Cal Ripken Jr. ended his major league streak of 2,632 consecutive games played. In 2011, “Don’t Ask, Don’t Tell”—a U.S. military policy that theoretically lifted a ban on gay, lesbian and bisexual people from serving in the armed forces, provided that individuals kept their sexuality private—officially ended. In 2017, Hurricane Maria struck Puerto Rico, causing more than $90 billion in damages and, according to government officials, nearly 3,000 deaths.
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
Copyright ©2025 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
|
|
702 King Farm Boulevard, Suite 300, Rockville, MD 20850
|
|
|
