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TUNE IN TO FISM.TV on weekdays, 9/8c to watch Financial Issues with our host Shana Burt and catch her live commentary, the latest financial news, market updates, investment tips, and more. | |
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In The Know: Week of March 1, 2024
Weakening Labor Market Could Be a Good Sign
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…We have fixed our hope on the living God, who is the Savior of all men, especially of believers. - 1 Timothy 4:10
For the Christian, this verse must be in the forefront of his mind. The Christian’s hope is fixed in nowhere else and in no one else but God.
In this passage, we are reminded of the fact that God is a saving God. It is core to His nature to rescue and redeem the lost. But even for those who are not spared eternal judgment, God still shows them immeasurably more grace than they deserve by giving them good relationships, good food, temporal happiness, and many other blessings in this life. The rain falls on the just and the unjust. Praise God for His great grace, and especially for the salvific grace that He shows on those who trust in Him!
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: U.S. stocks rose with the S&P 500 and Nasdaq closed at record highs
The DJIA dropped 44.15 points, or 0.1%, to close at 39,087.38.
The Nasdaq gained 278.12 points, or 1.7%, ending at 16,274.94.
The S&P rose 48.28 points, or 0.9%, closing at 5,137.08.
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The Dow Jones Industrial Average gained 90.99 points, or 0.23%, to close at 39,087.38; the Nasdaq Composite rose 183.02 points, or 1.14%, ending at 16,274.94; the S&P 500 added 40.81 points, or 0.80%, closing at 5,137.08.
The S&P 500 and Nasdaq climbed on Friday as chipmakers extended gains on AI-frenzy, while a dip in Treasury yields following soft economic data and remarks from Fed officials gave further boost.
Health care stocks were higher Friday afternoon, with the NYSE Health Care Index rising 0.9% and the Health Care Select Sector SPDR Fund (XLV) up 1%.
Tech stocks were sharply higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) climbing 1.8% and the SPDR S&P Semiconductor ETF (XSD) jumping 3.6%. The Philadelphia Semiconductor index gained 4.1%.
Financial stocks were mixed in late Friday afternoon trading with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) off 0.1%.
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Consumer stocks were mixed Friday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) decreasing 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.4%.
Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index rising 1.4% and the Energy Select Sector SPDR Fund (XLE) up 1.2%.
The Philadelphia Oil Service Sector Index jumped 2.9% and the Dow Jones US Utilities index was falling 1.1%.
West Texas Intermediate crude oil rose 2.1% to $79.88 a barrel while the global benchmark Brent crude contract advanced 1.9% to $83.49 a barrel. Henry Hub natural gas futures were 1.2% lower at $1.84 per 1 million BTU.
Spot gold rose 1.1% to $2,064.69 per ounce Friday, its highest since Feb 1, on track for a second straight weekly rise. Gold futures rose to $2,094.00. Platinum futures gained at $892.00, Palladium rose to $960.00 and Silver to $23.46.
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The Federal Reserve said Friday in a report that there are "notable" vulnerabilities on the financial stability front, although it added the stress banks were facing last spring has receded.
U.S. manufacturing slumped further in February, with a measure of factory employment dropping to a seven-month low amid declining new orders.
US consumer sentiment faltered in late February as current views of the economy and the outlook deteriorated, marking a reversal from earlier in the month that showed a pickup in optimism.
The Conference Board Consumer Confidence Index decreased in February for the second consecutive month. The Index now stands at 102.9 (1985=100), down from 106.0 in January.
Americans are spending more than 11% of their disposable income on food, per federal data — the highest level in more than three decades, matching 1991, the Wall Street Journal reports.
U.S. economic growth in the fourth quarter was lowered slightly, but its composition was much stronger than initially thought, which bodes well for the near-term outlook even as activity got off to a weak start because of freezing temperatures.
Federal Reserve Bank of New York President John Williams said Wednesday that while inflation pressures have ebbed to a notable degree, he’s not yet ready to say the central bank has done all it needs to do to get inflation back to the Fed’s 2% target.
A New Gallup poll finds a record-high number of Americans believe illegal immigration is a “critical threat” to the nation’s vital interests. Voters are clearly blaming President Joe Biden and his band of leftists for the invasion.
U.S. prices accelerated in January amid a surge in the costs of services like housing and finance, but the annual increase in inflation was the smallest in three years, keeping a mid-year interest rate cut from the Federal Reserve on the table.
The United States is opening an investigation into whether Chinese vehicle imports pose national security risks and could impose restrictions due to concerns about "connected" car technology, the White House said on Thursday.
Personal income rose 1% in January, well ahead of expectations due to strong gains in transfer payments, rental income and wages and salaries.
After an adjustment for a 0.3% increase in the PCE price index, real consumption was down 0.1% in January after a 0.6% increase in December.
Initial jobless claims increased by 13,000 to 215,000 in the week ended Feb. 24, but the four-week moving average fell by 3,000 to 212,500, a second straight decrease.
U.S. construction spending unexpectedly fell in January as weakness in outlays on public projects more than offset a moderate increase in private homebuilding.
A leading Wall Street investment strategist highlighted the exponential increase in the U.S. government debt as the primary cause for the continued rise of assets with finite supplies, such as gold and Bitcoin, which appear to be on track to reach their all-time highs.
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JUST THE NEWS, GROUNDED IN TRUTH. | |
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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Border visits Cue First Real Battle of Presidential Race
If Campaign 2020 was the COVID election, the 2024 general is shaping up to be one centered on border security and immigration. It’s a reality not lost on former President Donald Trump and President Joe Biden, who staged competing appearances in Texas at the U.S.-Mexico line Thursday.
The visits - Biden in Brownsville and Trump in Eagle Pass - were certainly in keeping with the dominant rhetorical approach of the two men. Biden tried to cast himself as a bridge-builder beset by stubborn conservatives while Trump, and others with whom he shared a lectern, leaned into the underlying anger a portion of Americans harbor about the mass of humanity entering the nation daily.
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Leftists Sound Alarm on 'MAGA Christian Nationalism'
For Democrats, "Christian nationalism" is the “hysteria du jour,” as one writer put it.
Biden campaign spokeswoman Lauren Hitt declared last week that “Trump allies” are working to “infuse ‘Christian nationalism’” into a possible second term for the former president. Though Hitt did not offer a precise definition of the term, she warned her social media followers that “Nationwide abortion bans, attacks on same-sex marriage, and restrictions on contraception” are the “horrifying reality being openly discussed by Team Trump and the likely architects of his second term agenda.”
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Report: National Abortion Rate Remains Unchanged, Telehealth Abortions Spike
Roe v. Wade may have been overturned, but the fight for life is hardly over. A recent report revealed that abortion numbers have not decreased since the Dobbs decision.
Pro-abortion research group Society of Family Planning showed in its latest #WeCount report that abortions across the nation have remained consistently high partly as a result of telehealth programs.
According to the study, abortions via telemedicine now make up 16% of all abortions nationwide.
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Hunter Biden Testifies before House Oversight and Judiciary Committees
On Wednesday, Hunter Biden spoke to the House Oversight and Judiciary Committees on his father’s alleged involvement in overseas business dealings. Hunter reportedly denied his father was involved in any of his businesses, saying:
“I am here today to provide the committees with the one uncontestable fact that should end the false premise of this inquiry: I did not involve my father in my business. Not while I was a practicing lawyer, not in my investments or transactions domestic or international, not as a board member, and not as an artist. Never.”
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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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