| | Products, Deals & People | | As we enter September’s College Savings Month,
Ascensus College Savings, a 529 plan administrator, has launched Learn529.com,
an interactive website that educates investors about 529 plans and how to
achieve college savings goals.Read more > | | Morgan Stanley Offers Education to Stock Plan Participants | | Morgan Stanley’s Global Stock Plan Services
(GSPS) group has migrated more than 300 corporate clients to its newly
redesigned equity recordkeeping portal, StockPlan Connect. In tandem with
StockPlan Connect, GSPS released its first iteration of a participant Knowledge
Center. The Knowledge Center features a variety of educational content.Read more > | | | Economic Events | | Factory orders rose 0.4% in July, marking a
second month of gain, the Census Bureau reported. The gain in July was led by a
5.5% jump in transportation equipment, while orders for manufactured nondurable
goods fell 1.3%. | | | Market Mirror | Eleven of the Fed’s 12 regional banks reported that the economy grew at
least modestly in July through mid-August, the Associated Press reports. Major
U.S. stock indices bounced back yesterday,
as the Dow climbed 293.03 points (1.82%) to reach 16,351.38, the NASDAQ rose
113.87 points (2.46%) to finish at 4,749.98, and the S&P 500 increased 35.01
points (1.83%) to 1,948.86. The Russell 2000 was up 17.98 points (1.59%) at 1,146.03,
and the Wilshire 5000 closed 352.35 points (1.74%) higher at 20,558.41.
On the NYSE,
3.2 billion shares changed hands, with nearly 3:1 ratio of advancers to
decliners, and on the NASDAQ, 2.8 billion shares traded, with slightly more
than 2 advancing issues for every declining issue.
The price of the 10-year Treasury note was down 8/32, increasing
its yield to 2.184%. The price of the 30-year Treasury bond dropped 25/32, bringing
its yield up to 2.953%.
| | | Compliance | | Court Questions Ability to Recover Pension Overpayments | | A federal district court judge has moved forward
certain claims brought by a plan sponsor against a retired plan participant
from whom it is seeking recovery of pension overpayments. Questions about
whether funds can be identified in the participant’s possession and when the
statute of limitations started to accrue have pushed the case to trial.Read more > | | | From the Magazine | | Avoiding Failed Nondiscrimination Tests | | What should you do if your plan receives a
failing grade on the ADP and ACP nondiscrimination tests? What caused the
failure, and what steps can you take to correct that misstep?Read more > | | | Small Talk | | ON THIS DATE: In 1189, England’s King Richard I was crowned in
Westminster. In
1783, the Revolutionary
War between the U.S. and Great Britain ended with the Treaty of
Paris. In
1833, the first
successful penny newspaper in the U.S., “The New York Sun,” was launched by
Benjamin H. Day. In
1935, Sir Malcolm
Campbell became the first person to drive an automobile over 300 miles an hour.
He reached 304.331 MPH on the Bonneville Salt Flats in Utah. In 1954, “The Lone Ranger” was heard on radio for
the final time after 2,956 episodes over a period of 21 years. In 1967, in Sweden, motorists stopped driving on
the left side of the road and began driving on the right side. In 1976, the U.S. spacecraft Viking 2 landed on Mars. The unmanned
spacecraft took the first close-up, color photos of the planet’s surface. In 2013, hunters in Mississippi caught a
727-pound alligator. | | SURVEY SAYS: Yesterday, we reported
about the Beloit College Mindset List for the college class of 2019. I started
thinking about how my children have always used computers and been comfortable with
the latest technology, while the first time I touched a computer was in 12th
grade and I’m still today confused and amazed by how technology works. This
week, I’d like to know, when was the first time you used a computer, and how
comfortable are you with the latest technology? You may respond to this week’s
survey by 6 p.m. Pacific time today.Read more > | | Share the good news with a friend! Pass the Dash along – and tell your friends/associates
they can sign up for their own copy.Read more > |
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