April 19, 2024


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.



In The Know: Week of April 19, 2024

Rate Cuts Off the Table for Now


If anyone has material possessions and sees a brother or sister in need but has no pity on them, how can the love of God be in that person? - 1 John 3:17


The Christian virtue that the Apostle John describes here is compassion, a tender care for a person who is suffering, which leads to action in response.


This compassion is specifically of a financial nature. Furthermore, the context of this verse is clearly referring to the needs of brothers and sisters in Christ as opposed to needy people in general. Therefore, we see clearly that if a professing believer has no compassion for the needs of his fellow believers, he does not possess the faith he professes. Let us, therefore, seek to meet the needs of our brothers and sisters in Christ, remembering how greatly our Elder Brother, Jesus Christ, loved us when we were in dire spiritual need.


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.


FOR THE WEEK: Wall St indexes split amid earnings, geopolitical crosscurrents

The DJIA added 3.16 points, slightly up for the week, to close at 37,986.40.

The Nasdaq lost 893.08 points, or 5.5%, ending at 15,282.01.

The S&P dropped 156.18 points, or 3%, closing at 4,967.23.

The Dow Jones Industrial Average gained 211.02 points, or 0.56%, to close at 37,986.40; the Nasdaq Composite fell 319.49 points, or 2.05%, ending at 15,282.01; the S&P lost 43.89 points, or 0.88%, closing at 4,967.23.

U.S. stocks were mixed on Friday and Treasury yields dipped as investors juggled lackluster earnings, uncertainties surrounding central bank policy and geopolitical strife.

Health care stocks advanced Friday, with the NYSE Health Care Index rising and the Health Care Select Sector SPDR Fund (XLV) each adding 0.5%.

Tech stocks declined late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 2% and the SPDR S&P Semiconductor ETF (XSD) tumbling 3.3%. The Philadelphia Semiconductor Index fell nearly 4%.

Financial stocks advanced in late Friday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund (XLF) adding 1.2%.

Consumer stocks were mixed Friday afternoon, with the Consumer Staples Select Sector SPDR Fund increasing 0.5% and the Consumer Discretionary Select Sector SPDR Fund retreating 0.7%.

Energy stocks were higher late Friday afternoon with the NYSE Energy Sector Index and Energy Select Sector SPDR Fund (XLE) each adding 1.2%.

The Philadelphia Oil Service Sector Index increased 0.6%, and the Dow Jones US Utilities Index climbed 1.4%.

West Texas Intermediate crude oil gained 1% to $83.55 a barrel, while global benchmark Brent added 0.3% to $87.38 a barrel. Henry Hub natural-gas futures eased 0.1% to $1.76 per 1 million BTU.

Gold prices pushed back above the $2,400 mark on Friday and logged a fifth consecutive weekly rise, as geopolitical fears triggered safe-haven demand. U.S. gold futures settled 0.5% higher at $2,408.80. Platinum futures fell to $942.50, and palladium slipped to $1,025. Silver futures rose 1.6% to $28.825.


A cocktail of interest rate anxiety and geopolitical tensions is keeping U.S. stock investors defensive and driving Wall Street's most closely watched volatility gauge to its highest level in half a year.

While first-quarter reporting season is still in its early stages, expectations have dimmed. Analysts now see aggregate S&P 500 earnings growth of 2.9% year-on-year, down from the 5.1% estimate as of April 1.

Industrial production inched up 0.4% in March but declined at an annual rate of 1.8% in Q1. Factory output excluding motor vehicles and parts rose 0.3%.

Nvidia Corporation shares are trading lower Friday. Earnings from ASML Holdings N.V. and Taiwan Semiconductor Manufacturing Company Ltd. have put pressure on the semiconductor sector.

A meager 4% of Americans think that the economy under Biden is “excellent,” according to a new New York Times/Sienna poll.

The national gas price average was $2.4/gallon when Biden was sworn in, according to the U.S. Energy Information Administration (EIA). In less than a year, gas prices rose to more than $3/gallon. They hit $5.06/gallon in June 2022.

Biden’s Education Department released a draft proposal for the President’s latest student debt relief plan announced last week.

Wall Street veteran investor Ed Yardeni has spotlighted potential turbulence ahead for the S&P 500 index, forecasting a “classic 10% correction” in the coming months.

Federal Reserve Chair Jerome Powell said on Tuesday recent inflation data has not given policymakers enough confidence to ease credit soon, noting that the U.S. central bank may need to keep rates higher for longer than previously thought.

US equity indexes slipped as the earnings onslaught continued and government bond yields fell with crude oil after midday on Wednesday.

Existing-home sales fell 4.3% in March to a seasonally adjusted annual rate of 4.19 million. Sales fell 3.7% from the previous year.

Over the six-month period between September 2023 and March 2024, the LEI contracted by 2.2%, compared to the 3.4% contraction in the previous six months.

Manufacturing activity in the Mid-Atlantic region expanded by the most in two years in April, driven by new orders and shipments of finished goods.

Planned Parenthood raked in $699.3 million in taxpayer funding from 2022-2023, according to its newly-released annual report.

The IMF warned the U.S. in its latest World Economic Outlook that government spending and skyrocketing national debt are not unsustainable and could hurt the global economy.

The median monthly mortgage payment has hit a record $2,775, up 11% YoY, according to Redfin’s latest Housing Market Update.

A group of 15 financial officers in 13 states issued a warning to Bank of America over its alleged practices of "politicized de-banking" targeting conservatives.

U.S. automakers General Motors ( GM ) and Ford face a challenge in common when they report first-quarter results next week: Explaining to investors where profit growth will come from in the months ahead as EV growth slows.

The national unemployment rate dropped to 3.8% in March from 3.9% in February.

Payrolls rose in five states, with Virginia and Georgia posting the largest increases in absolute terms. Nationwide non-farm payrolls increased by 303,000 in March after a 270,000 gain in February.



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.




Senate Dems Introduce New Tactic with Brief Mayorkas Trial

In the days leading up to the impeachment trial of Homeland Security Secretary Alejandro Mayorkas, speculation was rampant that Senate Majority Leader Chuck Schumer (D-N.Y.) would make history by refusing to host the proceeding.


Wednesday, Schumer ultimately allowed the trial to proceed only to moments later call for votes that deemed unconstitutional both articles on which Mayorkas has been impeached. The votes went along party lines and, by the thinnest of margins, the left prevailed.


It was the rare incremental-precedent-setting moment in history as Schumer went ahead with the trial, thereby not redefining how House impeachment hearings are handled but adding a new wrinkle to the political process by ending the trial as it began.

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Perinatal Hospice Gains Acceptance as a Life-Affirming Choice in Cases of Fetal Anomalies

A recent study published by the Family Research Council (FRC) revealed that 55% of expectant mothers who were informed that their unborn child had a life-shortening genetic anomaly were advised by their physicians to seek an abortion. Just 19% said that they were provided with information about palliative care as an alternative to the life-ending procedure.


A growing number of mothers, however, are choosing perinatal hospice care as a life-affirming alternative that many say provided them with healing, closure, and even joy in the midst of sorrow. 


Among the services described by the respondents were grief counseling, photos and mementos of their baby, prayer support, support groups, a birth plan, and a burial or funeral plan.

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Speaker Johnson Releases Details of Foreign Aid Plan

House Speaker Mike Johnson has released three foreign aid spending bills concerning Ukraine, Israel and the Indo-Pacific.


House Republicans didn’t want to approve the $95 billion omnibus bill the Senate passed back in February. Instead, Johnson argued for separate spending bills. The current proposal is as follows: Ukraine is set to receive $60.84 billion, Israel is set to receive $26.38 billion and the Indo-Pacific is set to receive $8.12 billion.


Johnson said the foreign aid bills will be brought to the floor under a structured rule that will allow for an amendment process and will also include a fourth bill that will address threats from Russia, China, and Iran. The House plans to vote on them on Saturday.

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More Gen Z Workers Choose Trades Over Grades

The trade industries seem to be making a dramatic comeback, mostly thanks to Generation Z.


A report from The Wall Street Journal shows dramatic increases in vocational training programs according to data presented by the National Student Clearinghouse. Last year, the number of students who had enrolled in community colleges with vocational focuses rose 16% – marking the highest level since data tracking began in 2018.


More specifically, the number of students in construction-focused trades rose 23% and the number of students in HVAC and vehicle maintenance rose 7%. The number of carpenters and electricians grew over the past decade and their median age simultaneously fell.

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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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