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September 8th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| MARKET MIRROR |
Wednesday, the Dow increased 453.98 points (1.40%) to close at 31,581.28, the Nasdaq won 246.99 points (2.14%) to finish at 11,791.90 and the S&P 500 gained 71.68 points (1.83%) to end trading at 3,979.87. The Russell 2000 extended 39.68 points (2.21%) to close at 1,832.00 and the Wilshire 5000 grew 744.78 points (1.91%) to reach 39,743.91.
The price of the 10-year Treasury note increased 28/32, bringing the yield down to 3.276%. The price of the 30-year Treasury bond increased 1 29/32, lowering the yield to 3.404%.
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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 1504, Michelangelo’s statue of David was unveiled to the public. In 1664, Dutch Governor Peter Stuyvesant surrendered New Amsterdam, the capital of New Netherland, to an English naval squadron under Colonel Richard Nicolls. Stuyvesant had hoped to resist the English, but he was an unpopular ruler, and his Dutch subjects refused to rally around him. Following its capture, New Amsterdam’s name was changed to New York, in honor of the Duke of York, who organized the mission. In 1863, during the Civil War, at the Second Battle of Sabine Pass, a small Confederate force thwarted a Union invasion of Texas at the mouth of the Sabine River on the Texas-Louisiana border. In 1943, General Dwight Eisenhower publicly announced the surrender of Italy to the Allies. In 1957, Althea Gibson became the first African American to win a U.S. Open tennis title. In 1974, President Gerald Ford pardoned his disgraced predecessor Richard M. Nixon for any crimes he may have committed or participated in while in office. In 1997, America Online acquired CompuServe. In 1998, the St. Louis Cardinals’ Mark McGwire hit his 62nd home run of the season to beat Roger Maris’ Major League record, which had stood for 37 years.
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