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In The Know: Week of August 16, 2024
Markets rebound as Walmart soars in Q2
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Do not love the world nor the things in the world. If anyone loves the world, the love of the Father is not in him. - 1 John 2:15
We face an unholy trinity in the spiritual war we fight, a triple threat made up of the world, the flesh, and the devil.
It is the first of these, the “world,” that John the Apostle references here. He is speaking about the evil world system, the values of this world that are antithetical to the gospel. We must have no love in our hearts for these things. Let us never become too comfortable here in this world, for we know that we are aliens and strangers, belonging to a better country. Driven by our love for the Father, let us bring the gospel into this evil world system, for the salvation of those who are deceived by it.
If you want to study the scriptures and learn more about the truth of the gospel, join our weekly Bible Study every Friday morning at 6:30 Eastern time, 5:30 Central time. Click here to learn how to join.
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FOR THE WEEK: US Equity Indexes Ground Higher with Weekly Gains
The DJIA added 1,162.22 points, or 2.9%, to close at 40,659.76.
The Nasdaq gained 886.42 points, or 5.3%, ending at 17,631.72.
The S&P rose 210.09 points, or 3.9%, closing at 5,554.25.
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The Dow Jones Industrial Average added 96.70 points, or 0.24%, to close at 40,659.76; the Nasdaq Composite gained 37.22 points, or 0.21%, ending at 17,631.72; the S&P rose 11.03 points, or 0.20%, closing at 5,554.25.
U.S. stocks edged higher on Friday, extending their biggest weekly percentage gains of the year as worries of an economic downturn eased and investors focused on the Jackson Hole symposium next week.
Health care stocks were edging higher late Friday afternoon, with the NYSE Health Care Index up 0.1% and the Health Care Select Sector SPDR Fund (XLV) adding 0.2%.
Tech stocks were mixed late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) increasing 0.1% and the SPDR S&P Semiconductor ETF (XSD) easing 0.2%. The Philadelphia Semiconductor index was down 0.1%.
Financial stocks advanced late Friday afternoon, with the NYSE Financial Index increasing 0.5% and the Financial Select Sector SPDR Fund (XLF) adding 0.6%.
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Consumer stocks rose late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) increasing 0.2% and the Consumer Discretionary Select Sector SPDR Fund (XLY) adding 0.3%.
Energy stocks were mixed late Friday afternoon, with the NYSE Energy Sector Index up 0.1% and the Energy Select Sector SPDR Fund (XLE) easing 0.1%.
The Philadelphia Oil Service Sector Index shed 0.2%, and the Dow Jones US Utilities index rose 0.5%.
West Texas Intermediate crude oil fell 2% to $76.58 per barrel, while global benchmark Brent retreated 1.8% to $79.61 a barrel. Henry Hub natural-gas futures dropped 3.8% to $2.11 per 1 million BTU.
Gold prices soared to an all-time high on Friday. U.S. gold futures rose to $2,543.90. Bullion has risen 2.6% this week. Silver futures rose to $28.975 per ounce and platinum fell to $961.50. Palladium futures were higher at $941.00. Silver, platinum, palladium all logged weekly gains.
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Retail sales in the US rose 1% month-over-month in July 2024, following a downwardly revised 0.2% drop in June and well above market forecasts of a 0.3% gain.
The number of people claiming unemployment benefits in the US fell by 7,000 to 227,000 in the week ending August 10th, contrasting with market expectations of a slight increase to 235,000.
Prices for U.S. imports increased 0.1% July, after being unchanged the previous month. U.S. export prices increased 0.7% in July following a 0.3% decline in June.
Industrial production fell 0.6% in July following a 0.3% increase in the previous month after increasing 0.3% in June.
John Deere & Co. third-quarter earnings fell year-over year, though it beat analyst estimates.
Former President Donald Trump vowed to “make America affordable again” Wednesday in the critical battleground state of North Carolina.
Former Trump adviser Joe Grogan and others claim that the Biden administration is leveraging taxpayer funds to mask upcoming increases in Medicare premiums ahead of the 2024 election.
Fed Chair Jerome Powell is scheduled to deliver remarks on the economic outlook next Friday, the first full day of the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming.
Interest rate expectations for the Federal Reserve have undergone volatile swings recently due to conflicting economic data.
Building permits in July were at a seasonally adjusted annual rate of 1.396 million, which is 4.0% below the revised June rate of 1.454 million and 7.0% below the July 2023 rate of 1.501 million.
The University of Michigan consumer sentiment for the US rose to 67.8 in August, up from 66.4 in July and above forecasts of 66.9, preliminary estimates showed.
U.S. Treasury yields were lower on Friday as investors weighed this week’s key data and considered the state of the economy.
Supermarket chain Kroger plans to lower grocery prices by $1 billion after the completion of its proposed $25 billion merger with smaller rival Albertsons , a company spokesperson said.
Ford Motor is recalling about 85,000 Explorer SUVs equipped with the Police Interceptor Utility package over concerns of an engine fire.
Texas Instruments said it would receive up to $1.6 billion in funding from the US Commerce Department towards the construction of three new facilities, to bolster domestic chip production.
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We are thrilled to announce that Financial Issues is now airing on NRB TV, every weekday at 2 pm EST, right after the popular 700 Club! The expansion allows us to potentially reach 39 million new households via DirecTV and NRB's streaming platforms. This fantastic opportunity - to welcome more people into the FISM family and make a greater impact on the culture through biblically responsible investing - was made possible by your loyal support. Thank you for your unwavering dedication to the ministry. We can't wait to see how the Lord will use this new platform to further our mission of equipping individuals to be good stewards of their resources and honoring God through their investments. | |
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FISM NEWS is a conservative news source that approaches each story from a biblical worldview. Watch FISM News weekdays at 5pm ET 4pm CT on fism.tv/watch. | | |
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Generation Boycott: Movies, Drinks, and Donuts All Face Consumer Revolts
Thursday morning, the New York Times listed “boycott” as its word of the day. Rarely has the timing of a word of the day been more appropriate.
The infographic mentioned that boycott had appeared in 308 New York Times articles over the last year. One can expect that number to bolt upward as the concept of consumer revolts has taken root across a diverse collection of interests.
Conservatives and Republicans have proven adept at using the mighty dollar, or lack thereof, as a means of quelling what they view as overly-woke practices by companies that ostensibly cater to a largely conservative audience – among them John Deere, Bud Light and Tractor Supply Company.
Read More
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Biden Administration Quickens Rate of Migrant Citizenship Ahead of ’24 Elections
It seems as though migrants are becoming citizens quicker than normal as of late.
A New York Times report says that thousands of immigrants are becoming naturalized American citizens every week in a recent surge. While this is somewhat typical before an upcoming election, the Times reports that 3.3 million immigrants have become citizens during Biden’s tenure.
Naturalization applications took, on average, nearly 5 months to complete since the start of this fiscal year. Compared to Fiscal Year 2021 where the average hovered around 11 and a half months, this is quite the improvement.
Watch Here
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Inflation Retreats in Newest Batch of Data, Putting Pressure on Fed
Trump’s comments also happen to come during a new batch of inflation data from the Labor Department.
According to this data, inflation rose slightly for the month of July as the consumer price index hit 2.9% for a year-over-year rate. This fell in line with what some economists were expecting – and delivered some somewhat good news for the economy.
That 2.9% annual rate is the lowest since March of 2021 – when the rate was at 2.6%. Similar findings were reported for the core CPI, which removes more volatile measurements like gas and food prices from its date set.
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Harris Leads or Ties in Most Battleground States: Report
Despite Trump’s and Vance’s attempts to paint Harris in a bad light, she seems to be gaining favor with many crucial voters.
According to a new survey from The Cook Political Report, Vice President Harris has either caught up to Trump or surpassed him in almost all battleground states. The so-called “Swing State Project Survey” shows Harris leading in most surveyed states, including Arizona, Michigan, North Carolina, Pennsylvania, and Wisconsin.
Harris has tied with Trump in the state of Arizona. Trump currently leads Harris in the state of Nevada by about 5 points.
Watch Here
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The FISM (Financial Issues Stewardship Ministries) is the home of the program Financial Issues which focuses on financial headlines, investing, politics and encourages people to be thoughtful stewards of the money God has entrusted to them. Financial Issues is a live call-in radio and TV program heard and watched internationally. | |
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Disclaimer: The information and data provided in this communication is meant for informational purposes only. It is the option of an individual and should not be regarded as an offer to sell, a solicitation to buy, or a recommendation of any security, or as an offer to provide financial planning or investment advice. You should consult with your Financial Planner, Adviser and your Tax Account to make sure of the suitability for you of any investment you make. Understand that ALL investments contain risk of loss of principal and that should always be considered before investing. The user bears the sole responsibility of evaluating the merits and risks associated with the use of any information obtained from Financial Issues Stewardship Ministries, Daniel J. Celia, or Shana Burt of Exodus Financial Services and GA Repple. Although the information provided is obtained or compiled from sources believed to be reliable, Financial Issues Stewardship Ministries, Daniel J. Celia and Shana Burt of Exodus Financial Services and GA Repple do not guarantee the reliability, accuracy, timeliness or completeness of any information or data made available to the recipient of this message for any particular purpose.
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