|
September 27th, 2023
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
Sales of new single‐family houses in August 2023 were at a seasonally adjusted annual rate of 675,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.7% below the revised July rate of 739,000 but is 5.8% above the August 2022 estimate of 638,000.
The Conference Board Consumer Confidence Index declined again in September to 103.0, down from an upwardly revised 108.7 in August. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—rose slightly to 147.1 from 146.7. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—declined to 73.7 in September, after falling to 83.3 in August. Expectations fell back below 80—the level that historically signals a recession within the next year.
|
|
|
|
| MARKET MIRROR |
Tuesday, the Dow fell 388.00 points (1.14%) to close at 33,618.88, the Nasdaq fell 207.71 points (1.57%) to close at 13,063.61 and the S&P 500 fell 63.91 points (1.47%) to close at 4,273.53. The Russell 2000 lost 22.63 points (1.27%) to close at 1.761.61, and the FT Wilshire 5000 Index lost 636.12 points (1.46%) to close at 43,026.29.
The 10-year Treasury note was unchanged, bringing the yield to 4.540%. The 30-year Treasury bond decreased 4/32, bringing the yield to 4.678%.
|
|
|
|
|
|
|
|
EVENTS
|
|
PLANSPONSOR Roadmap Livestream
|
Prepare for the participant financial security journey! Get tips for creating and implementing your financial wellness benefits. Get ready for 2024 retirement plan administration with the latest SECURE 2.0 updates and more. Register to attend the Roadmap Livestream on October 10. 
|
|
|
|
|
ON THIS DATE: In 1777, during the American Revolution, the Continental Congress, having fled Philadelphia, held a session in Lancaster, Pennsylvania, making the city the capital of the American colonies for one day. In 1918, British forces attacked the Hindenburg Line in the final offensive on the Western Front during World War I. In 1954, the landmark late-evening talk show and variety program “The Tonight Show” premiered (as “Tonight!”), with Steve Allen as host. In 1962, Rachel Carson’s “Silent Spring” was published, and it became one of the most influential books in the modern environmental movement. In 1964, following months of investigation into the assassination of U.S. President John F. Kennedy, the Warren Commission released its findings that no evidence that either Lee Harvey Osward or Jack Ruby was part of any conspiracy, domestic or foreign, to assassinate the president. In 1996, the Taliban, led by Mohammad Omar, seized the capital city of Kabul, and declared an Islamic state. In 2008, Chinese astronaut Zhai Zhigang performed China’s first spacewalk. In 2019, a week of international climate change protests—led by youths, notably Swedish activist Greta Thunberg—ended, with millions having participated in the demonstrations.
|
|
|
| Industry Intel Roundup—Thought Leadership | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring content from thought leadership authorities. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. | | | | |
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
|
|
|
|
