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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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The FISM family wishes you a Blessed and Happy
Labor Day on Monday, September 2.
We hope you find time to relax and enjoy a break from work with friends and family. Labor Day is a wonderful opportunity to reflect on the social and economic achievements of the American workforce, which has played a key role in shaping our society. Be sure to watch the video above, where Seth Udinski dives into the history of the American workforce and its contributions to the world we live in today in an episode-length rendition of A Moment in History. Enjoy exploring the rich history and impact of labor in America!
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In The Know: Week of August 30, 2024
Mostly strong NVIDIA earnings and high inflation for July
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Whoever works his land will have plenty of bread, but he who follows worthless pursuits lacks sense. - Proverbs 12:11
This verse speaks not only to the practice of agriculture, but also more generally to the notion of working hard for our needs. Hard work is a good thing.
Those who work hard will have their needs met. On the other hand, those who waste their time with useless pursuits reveal the severe lack of wisdom they have. The Lord created us for work, as He also created us for rest. Let us seek to work when it is time to labor, and rest when it is time to rest, seeking to bring glory to the Lord in both! We can be confident that He holds us up and gives us the wisdom we need to pursue godliness.
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: Stocks set to end turbulent month higher as U.S. data indicates rate cut
The DJIA added 388 points, or 0.9%, to close at 41,563.08.
The Nasdaq fell 164.17 points, or 0.9%, ending at 17,713.62.
The S&P gained 13.79 points, or 0.2%, closing at 5,648.40.
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The Dow Jones Industrial Average added 228.03 points, or 0.55%, to close at 41,563.08; the Nasdaq Composite rose 197.19 points, or 1.13 %, ending at 17,713.62; the S&P gained 56.44 points, or 1.01%, closing at 5,648.40.
The Nasdaq and S&P 500 rose on Friday, with Tesla and Amazon ( AMZN ) climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.
Health care stocks were rising late Friday afternoon with the NYSE Health Care Index up 0.2% and the Health Care Select Sector SPDR Fund adding 0.3%.
Tech stocks rose late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 0.8% and the SPDR S&P Semiconductor ETF (XSD) gaining 1.4%. The Philadelphia Semiconductor index climbed 2%.
Financial stocks were rising in late Friday afternoon trading, with the NYSE Financial Index rising 0.5% and the Financial Select Sector SPDR Fund (XLF) adding 0.6%.
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Consumer stocks were increasing late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund up 0.7% and the Consumer Discretionary Select Sector SPDR Fund rising 1%.
Energy stocks declined Friday afternoon with the NYSE Energy Sector Index decreasing 0.7% and the Energy Select Sector SPDR Fund (XLE) down 0.5%.
The Philadelphia Oil Service Sector Index dropped 1.4%, and the Dow Jones US Utilities index added 0.3%.
West Texas Intermediate crude oil fell 3.2% to $73.45 a barrel, while global benchmark Brent dropped 1.4% to $78.80 a barrel. Henry Hub natural gas futures eased 0.1% to $2.13 per 1 million BTU.
Gold up over 2% this month but slipped 1% on Friday as the dollar and Treasury yields firmed. US gold futures settled 1.3% lower at $2,527.60. Spot silver eased 2.2% to $28.78 per ounce and platinum fell 1.2% to $926.65. Both metals registered monthly losses. Palladium retreated 1.7% to $963.34, but posted a 4.3% monthly gain.
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Federal Reserve policymakers on Friday got fresh confirmation that inflation is continuing to ease, clearing the way for a first interest rate reduction next month.
Real GDP increased at an annual rate of 3.0% in Q2 2024, according to the "second" estimate.
The number of Americans filing new applications for jobless benefits slipped last week, but re-employment opportunities for laid-off workers are becoming more scarce.
The international trade deficit was $102.7 billion in July, up $6.1 billion from $96.6 billion in June.
The average U.S. auto insurance rate soared to $2,329 in the first six months of 2024, according to a new report by Insurify, an insurance comparison shopping site.
Crowdstrike shares slipped 4% in extended trading on Wednesday after reporting strong fiscal second-quarter results but reduced full-year guidance in the wake of a global outage.
A senior exec at CrowdStrike will testify before a U.S. House of Representatives subcommittee on Sept. 24 on the company's faulty software update that caused a global IT outage.
Nvidia shares dropped 4% on Thursday after its forecast fell short of lofty expectations, but the modest selloff showed investors still remain confident in the generative AI boom.
Dollar General's shares slumped 29% to a more-than-six-year low on Thursday after the discount retailer slashed its annual sales and profit forecasts.
Government agencies including the Defense Department and NASA funded research led to more than 1,000 U.S. patents for China-based investors since 2010.
Pro-abortion advocates pushing for no-holds-barred abortions up to birth are calling for a repeal of the Hyde Amendment, which prohibits federal funding of most abortions.
Contracts to buy U.S. previously owned homes dropped to a record low in July as higher prices and borrowing costs drove potential buyers from the market.
The U.S. has requested trade dispute settlement consultations with Canada over its new digital services tax, the Biden administration said on Friday.
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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. | |
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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Starbuck Claims More Wins Over DEI in Workplace, Plans More
To the extent that most people know Robby Starbuck, it’s as the TikToker with slicked-back hair who rails against wokeism in American workplaces while racking up virtual and real-world wins as company-after-company distances itself from DEI.
Conservatives routinely hale Starbuck, who in a previous career directed music videos for the likes of Smashing Pumpkins and the Red Jumpsuit Apparatus, as a skillful activist affecting change.
FISM News has reported extensively about corporate America trending toward the center in its initiatives. DEI investment funds are not as flush with resources as they once were.
Read More
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Lowe’s Becomes Latest Company to Sever Ties with DEI
Conservatives scored another win against DEI policies this week.
Conservative activist Robby Starbuck announced on Monday that he was able to convince executives at home goods retailer Lowe’s to back away from the controversial set of policies. According to Starbuck, he sent a message to Lowe’s indicating that he and his team were ready to expose the company’s “woke” policies.
Starbuck said he began looking into the company after two members of Lowe’s DEI team viewed his LinkedIn profile. He thanked these employees in a post on X, saying he “never would have looked at Lowe’s as a target to investigate” without this impetus.
Watch Here
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Walz Faces More Attacks for Lying about Military Service
Dozens of congressional military veterans, all of them Republicans, recently issued a scathing letter rebuking Minnesota Gov. Tim Walz for lying about his military service.
The letter attacks Walz for claiming to be a “retired command sergeant major.” It’s a position he held on a contingent basis in the National Guard, but failed to complete the requirements needed to retire with the title. But that hasn’t stopped Walz from claiming the title for decades.
The letter also criticized Walz for claiming to have carried weapons “in war,” when he never served in a combat zone, saying “Until you admit you lied… there is no way you can be trusted to serve as vice president.”
Watch Here
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Trump Adds Gabbard, RFK Jr. to Transition Team
Donald Trump has added former Rep. Tulsi Gabbard and ex-presidential candidate Robert F. Kennedy Jr. to his transition team.
According to the New York Times, the two recent endorsers of the former president will be “honorary co-chairs” of the team. Gabbard and Kennedy will help Trump select the people who will be part of a potential second Trump administration.
Trump campaign senior adviser Brian Hughes said his team was happy to have the two former Democrats on the team. Hughes added, “We look forward to having their powerful voices on the team as we work to restore America’s greatness.”
Watch Here
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WATCH PREVIOUS EPISODES
WITH DAN CELIA
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LISTEN TO THE OLD FINANCIAL ISSUES programs hosted by our beloved founder, Dan Celia, as he passionately told it like it was, from a biblical perspective. His wisdom and insight are still applicable today. | |
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BIBLICALLY RESPONSIBLE INVESTING
FOR OVER 25 YEARS
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THE FIRST OF ITS KIND, Timothy Plan is a family of mutual funds that utilize Biblically Responsible Investing filters to ensure that no money is invested in companies that are supportive of ideals that are contrary to our Biblical moral imperative. Pro-family, Pro-life,
Pro-Community: Timothy Plan aligns your financial stewardship with the Godly principles you strive to exhibit every day.
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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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Confidentiality:This message is intended only for the use of the individual or entity to which it is addressed, and may contain information that is confidential in nature. Any distribution, copying or disclosure of this material by any individual or entity other than the intended recipient is strictly prohibited. If you have received this message in error, please notify Financial Issues Stewardship Ministries immediately and delete this message.
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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