The Dow lost 13, the S&P gained 4 and the Nasdaq advanced 7. The Dow had lost 157 points, or 0.9%, over the second quarter and 47 points, or 0.3%, over the first quarter. The last time the Dow had a three-quarter losing streak was the six-quarter stretch ending the first quarter of 2009. Before that, there was a five-quarter losing streak ending with the first quarter of 1978, according to FactSet data. In the Dow’s 119-year history, there have now been 20 quarterly losing streaks that stretched at least three quarters.
US companies with defined benefit pension plans will save at least $18 billion in 2016, because the IRS has yet to adopt updated assumptions on how long Americans are living, says Moody’s Investors Services.
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