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In The Know: Week of June 14, 2024
The Establishment's Deception
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As a father shows compassion to his children, so the LORD shows compassion to those who fear him. - Psalm 103:13
As we prepare to honor and celebrate the dads in our lives this week, let us look to our Heavenly Father as the ultimate example of fatherly love.
If you are a father, be encouraged: You have your example of how to love and care for your children when you look to God the Father. If you, like many, did not have an example of fatherly love from your earthly father (whether he passed away suddenly, or was unkind, or was not present), be encouraged also: God is a Father to the fatherless. His compassion never fails, and His mercy on His children never ends.
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 Equities Markets Close Mixed Friday
The DJIA dropped 209.83 points, or 0.54%, to close at 38,589.16.
The Nasdaq rose 555.75 points, or 3.2%, ending at 17,688.88.
The S&P gained 84.61 points, or 1.6%, closing at 5,431.60.
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The Dow Jones Industrial Average dropped 57.94 points, or 0.15%, to close at 38,589.16; the Nasdaq Composite rose 21.32 points, or 0.12%, ending at 17,688.88; the S&P lost 2.14 points, or 0.04%, closing at 5,431.60.
US Equities Markets close mixed Friday as markets evaluate unexpected drop in Consumer Sentiment, and the S&P 500 takes a breather after consecutive sessions of record highs.
Health care stocks were softer late Friday afternoon, with the NYSE Health Care Index down 0.3% and the Health Care Select Sector SPDR Fund (XLV) edging down 0.1%.
Tech stocks were mixed late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.2% and the SPDR S&P Semiconductor ETF (XSD) dropping 1.8%. The Philadelphia Semiconductor index fell 0.1%.
Financial stocks were decreasing in late Friday afternoon trading with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund (XLF) shedding 0.3%.
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Consumer stocks fell late Friday with the Consumer Staples Select Sector SPDR Fund (XLP) down 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) dropping 0.9%.
Energy stocks were falling late Friday afternoon with the NYSE Energy Sector Index shedding 1.2% and the Energy Select Sector SPDR Fund (XLE) decreasing 0.8%.
The Philadelphia Oil Service Sector Index slumped 3.1%, and the Dow Jones US Utilities index eased 0.3%.
West Texas Intermediate crude oil was fractionally down at $78.60 a barrel, and global benchmark Brent crude was fractionally lower at $82.74 a barrel. Henry Hub natural gas futures dropped 2.2% to $2.89 per 1 million BTU.
Gold traded higher on Friday, rebounding from a five-week low touched a day earlier despite a stronger dollar as treasury yields narrowed. Gold for August delivery was last seen up $30.60 to $2,348.60 per ounce.
Silver futures were up at $29.59 per ounce, Platinum was up at $960.20; Palladium was up at $893.00.
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Target and Dick's Sporting Goods will both face criticism over "woke" policies at their respective shareholder meetings on Wednesday, as activist investors ramp up pressure on companies amid raging culture wars in the U.S.
Elevated U.S. interest rates are pressuring the U.S. retail sector, where shares of many companies have been dented by months of tight monetary policy while a select few have soared.
President Biden’s massive student debt relief scheme may not have produced the intended result of boosting his dismal approval ratings.
The Biden administration said this week that it “strongly opposes” a proposed pay hike for junior enlisted service members.
More than 15,000 Amazon contract drivers filed arbitration claims against the e-commerce giant on Tuesday, alleging Amazon classified them as independent contractors instead of employees with minimum wage and overtime rights.
Amid signs that Americans are tiring of sending weapons to Ukraine after two years of war, President Joe Biden this week will huddle with other world leaders in search of new ways to get aid to the country.
The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year.
The unexpectedly benign report from the Labor Department on Friday combined with data this week showing tame inflation readings last month to keep a September interest rate cut from the Federal Reserve on the table.
U.S. passenger railroad Amtrak said on Wednesday it expects ridership to top pre-COVID 2019 levels this year for the first time and reach a record high.
The advance figure for seasonally adjusted initial unemployment claims was 242,000 for the week ending June 8, an increase of 13,000 from the previous week's unrevised level of 229,000.
A whopping 60% of 15,000 respondents worldwide said that they make purchase decisions based on whether brands share their political views.
Scott Shepard, director of the National Center for Public Policy Research’s Free Enterprise Project (FEP), did not mince words when confronting executives at Target’s annual shareholder meeting today.
Treasury Secretary Janet Yellen tried to make the case on Thursday that the U.S.’s $34.7 trillion debt load is manageable.
The Federal Reserve’s stance during its June meeting and Chair Jerome Powell‘s remarks about needing “more confidence” might have shifted if policymakers had also seen the largest drop in producer inflation in eight months.
Consumer sentiment fell for a third straight month in June to 65.6 from 69.1 in May and below forecasts of 72.
Ford notified dealers on Thursday that it was dropping some of its equipment requirements in order to boost sluggish sales of its EV line, Bloomberg reported.
Home foreclosures were up again in May, according to real estate data provider ATTOM. Last month, there were 32,621 properties with foreclosure filings in the U.S.
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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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Partisans Weigh in as Supreme Court Protects Abortion Pill
In the latest round of the ever-intensifying battle over abortion in the United States, the Supreme Court this week ended a lawsuit that challenged the FDA's regulation of one of the two drugs most commonly used in abortions.
Thursday, the court ruled 9-0 that anti-abortion doctors and healthcare professionals did not have the legal standing to sue on behalf of their patients over the FDA approving Mifepristone. It was a definitive win for the pro-abortion side and a major setback for pro-life, but the court’s decision did little, if anything, to quell the battle.
Justice Brett Kavanaugh, writing for the court, said that “federal courts are the wrong forum for addressing the plaintiffs’ concerns about FDA’s actions.”
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Russian Warships Arrive at Havana Harbor for Routine Military Exercise
Russian warships entered the Havana harbor yesterday for a routine military exercise training.
A nuclear submarine and a frigate carrying long-range missiles made it to Cuba after conducting “high-precision missile weapons” training in the Atlantic. The US closely monitored their actions.
The Office of the Secretary of Defense said in a statement, “We are expecting that Russia will temporarily send combat naval vessels to the Caribbean region and these ships will likely conduct port calls in Cuba and possibly Venezuela.” They added that Russia may also deploy aircraft to the region as part of their training, but they would pose “no direct threat to the US.”
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Suspected Terror Arrests Came Week After Domestic Terror Warning
Last week, FBI Director Christopher Wray again warned of an increased threat of terror activity filtering through the border crisis. Ironically, his comments came just a week before eight individuals were arrested at the border on suspicion of terrorism.
Speaking before the Senate Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies, Wray requested more FBI funding in the next fiscal year. Wray started his plea by saying that budget cuts could not have “come at a worse time” for his agency.
Most of the hearing was a Q&A session between the Senators and Wray, who was questioned on how more funding would benefit his agency.
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G7 Leaders Gather in Italy for Three-Day Summit
The G7 summit started today as Western leaders face difficult circumstances at home.
The topics for debate are Ukraine, the Middle East, China, and AI. According to the White House, President Joe Biden will also sign a bilateral security agreement with Ukrainian President Zelenskyy “in a show of strength” against Russia.
But Biden and the leaders of at least Germany, France and the United Kingdom, all face major challenges thanks to shifting political preferences on the domestic front.
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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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