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September 25th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
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Tuesday, the Census Bureau will report new home sales for August and the Conference Board will report consumer confidence for September. Wednesday, the Census Bureau will report new orders for manufactured durable goods for August. 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 fell 106.58 points (0.31%) to close at 33,963.84, the Nasdaq fell 12.18 points (0.09%) to close at 13,211.81 and the S&P 500 fell 9.94 points (0.23%) to close at 4,320.06. The Russell 2000 fell 5.32 points (0.30%) to close at 1,776.50, and the FT Wilshire 5000 Index fell 96.91 points (0.22%) to close at 43,490.13.
The 10-year Treasury note rose 4/32, bringing the yield to 4.440%. The 30-year Treasury bond rose 29/32, bringing the yield to 4.528%.
For the week ending September 22, the Dow fell 1.89%, the Nasdaq fell 3.62% and the S&P 500 fell 2.93%. The Russell 2000 fell 3.82%, and the FT Wilshire 5000 Index finished 3.03% lower
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Toland leaves TIAA to start annuity consultancy; Bryn Mawr Trust selects director of private wealth management; and First Eagle Investments announces new high-yield municipal credit team. 
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ON THIS DATE: In 1777, Philadelphia, then the U.S. capital, was occupied by British forces during the American Revolution. In 1789, the first Congress of the U.S. approved 12 amendments to the U.S. Constitution and sent them to the states for ratification. The amendments, known as the Bill of Rights, were designed to protect the basic rights of U.S. citizens, guaranteeing the freedom of speech, press, assembly, and exercise of religion; the right to fair legal procedure and to bear arms; and that powers not delegated to the federal government were reserved for the states and the people. In 1962, Sonny Liston became world heavyweight boxing champion with a first-round knockout of Floyd Patterson in Chicago. In 1965, the Kansas City Athletics started Satchel Paige in a game against the Boston Red Sox and the 59-year-old Paige, a Negro League legend, allowed only one hit in his three innings pitched. In 1970, hostilities came to an end during the brief but violent civil war between the Palestine Liberation Organization and Jordan. In 2011, Kenyan politician and environmental activist Wangari Maathai—who was the first Black African woman to win a Nobel Prize (the 2004 Nobel Prize for Peace)—died at age 71. In 2016, golfer Arnold Palmer, who used an unorthodox swing and an aggressive approach to become one of golf’s most successful and well-liked stars, died at age 87.
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