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September 26th, 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 new orders of durable goods for August, new home sales for August and the Conference Board will reveal the Consumer Confidence Index for September. 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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| MARKET MIRROR |
Friday, the Dow was down 486.27 points (1.62%) to close at 29,590.41, the Nasdaq lost 198.88 points (1.80%) to end trading at 10,867.926 and the S&P 500 fell 64.76 points (1.72%) points to finish at 3,693.23. The Russell 2000 slipped 42.72 points (2.48%) to close at 1,679.59 and the Wilshire 5000 decreased 695.95 points (1.86) to end trading at 36,787.20.
The price of the 10-year Treasury note increased 2/32, bringing the yield down to 3.691%. The price of the 30-year Treasury bond increased 5/32, bringing the yield down to 3.615%.
For the week ending September 23, the Dow was down 4.00%, the Nasdaq fell 5.07% and the S&P 500 lost 4.65%. The Russell 2000 decreased 6.60% and the Wilshire 5000 ended the week 5.07% lower.
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DEALS AND PEOPLE
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Retirement Industry People Moves
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Buck appoints U.S. regional market leaders; Pacific Life announces new head of defined contribution lifetime income; Dorsey & Whitney names new partner; and more. 
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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 1580, after nearly three years at sea, English Admiral Francis Drake arrived in Plymouth Harbor, England, completing his circumnavigation of the world. In 1789, Thomas Jefferson was appointed the first U.S. Secretary of State. In 1898, composer George Gershwin was born. In 1960, the first in a series of historic televised debates—viewed by 85 to 120 million viewers—between U.S. presidential candidates John F. Kennedy and Vice President Richard M. Nixon was broadcast. In 1969, the Beatles released “Abbey Road,” their last-recorded album; “Let It Be,” though mostly recorded earlier than “Abbey Road,” was released in 1970. In 1996, Shannon Lucid returned to Earth after being in space for 188 days. She set a time record for a U.S. astronaut in space and a world record for time spent by a woman in space. In 2007, a mistrial was declared in music producer Phil Spector’s murder case when the jury could not come to a unanimous verdict.
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