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"Stand fast therefore in the liberty by which Christ has made us free, and do not be entangled again with a yoke of bondage."
Galatians 5:1
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For the week, the DJIA lost 2.17 points, basically flat, closing at 33,745.69. The S&P dropped 27.59 points, or .6%, ending at 3,965.34. The Nasdaq fell 177.27 points, or .15%, to close at 11,146.06.
Wall Street's main indexes opened higher on Tuesday after a lower-than-expected rise in U.S. producer prices boosted expectations that the Federal Reserve would shift to smaller interest rate hikes. However, the S&P and Nasdaq fell on Wednesday following Target’s poor sales forecast unleashed new worries for retailers.
U.S. stock indexes fell on Thursday as mixed economic data and hawkish comments from a Federal Reserve official fueled concerns that the central bank may not ease its aggressive policy tightening.
U.S. producer prices increased less than expected in October as services fell for the first time in nearly two years, offering more evidence that inflation was starting to subside.
Americans continued to take on debt during the fourth quarter amid a surge in credit card borrowing, even as they backed away from new mortgages in a rapidly rising interest rate environment.
Corporate America is making deep cuts to its employee base as part of its restructuring efforts to navigate a potential downturn in the economy from the U.S. Federal Reserve's war on inflation.
The number of Americans filing new claims for unemployment benefits fell last week, showing widespread layoffs remain low despite a surge in technology-sector job cuts that has raised fears of an imminent recession.
U.S. homebuilding fell sharply in October, with single-family projects dropping to the lowest level in nearly 2-1/2 years, as the housing market buckles under the strain of surging mortgage rates, which are pricing out potential homeowners.
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Friday Recap: The Markets rose slightly on Friday, but were nearly flat for the week
U.S. stock indexes rose on Friday after falling for two days. The S&P 500 edged lower on Friday afternoon in a choppy trading session, as declines in tech and energy shares were countered by gains in defensive sectors, and investors digested hawkish comments from Federal Reserve officials
Retailers such as Target Corp and Kohls Corp are slashing prices by as much as 50% on toys and other popular holiday gifts in early Black Friday deals aimed at increasingly frugal consumers - but the bargains aren't what they seem because prices have risen faster than promotions.
State-level data released by the Bureau of Labor Statistics Friday showed the unemployment rate rose in 24 states in October, fell in one and held steady elsewhere.
U.S. existing home sales tumbled for a record ninth straight month in October as the 30-year fixed mortgage rate hit a 20-year high and prices remained elevated, pushing homeownership out of the reach of many Americans.
US leading economic index declined 0.8% in November.
Investors anxious to determine when the dollar should hit its peak may have to wait a few more quarters according to Goldman Sachs.
In commodity news, oil traded down 3% to $80.18 while gold traded down at $1,748.50. Silver also traded down to $20.02 on Friday while copper fell 0.8% to $3.64. Platinum and Palladium were also set for a weekly dip.
The Dow Jones Industrial Average gained 199.37 points, or 0.59%, to close at 33,745.69; the S&P 500 added 18.78 points, or 0.48%, ending at 3,965.34; the Nasdaq Composite rose just 1.11 points, or 0.01%, to close at 11,146.06.
For the week, the DJIA lost 2.17 points, basically flat, closing at 33,745.69. The S&P dropped 27.59 points, or .6%, ending at 3,965.34. The Nasdaq fell 177.27 points, or .15%, to close at 11,146.06.
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Donations may be made by clicking on the secure link above, or by mailing a check or money order to: Financial Issues Stewardship Ministries, or "FISM," PO Box 270, Exton, PA 19341.
(All donations are tax deductible and non-refundable.)
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Good Guys! Doing Good
FISM TV Presents a New Christian Reality Show
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Good Guys! Doing Good
Good Guys! Doing Good is a Christian reality show hosted by Tim Bisagno. In each episode, Tim sets out on a journey across the USA to find men of God serving the Lord in adventurous, exciting, and unique ways. Follow Tim as he travels, participates, laughs, cries, honors, and showcases good guys doing God's work!
Dan Celia, founder and former president of FISM, was the executive producer of Good Guys! Doing Good. Celia was the ultimate good guy, having served in the Navy and on missions trips around the world, as well as reaching millions through his radio and television ministry before being called home to be with the Lord. The program is produced and directed by Krunti Hester, in Celia’s honor.
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Watch Financial Issues Live
with Shana Burt as new host of our daily radio program
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We are now posting insightful video clips of the program, including many of Shana's responses to partners on our FISM App, as well as on our FISM TV website.
On the FISM app, if you scroll across the top to FINANCIAL ISSUES, then scroll down, you will find an option for these HELPFUL VIDEOS.
While you are there, please take the time to enjoy our FISM News to glean a conservative and biblical worldview on current events.
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ANNOUNCING "Tips For The News" | |
Tips for the News - FISM News is excited to announce that it now has a tip-line where you can submit ideas of stories that you think others should know about. The news team is always looking for news-worthy content that may fly under the radar or doesn't follow the agenda of mainstream outlets. Since the news so often focuses on the problems of the world, the team is also hoping that the tip-line can lead to suggestions that will help inform others of positive stories of faith and faithfulness in the church and Christian organizations. If you have any news-worthy content that you want to suggest to the news team, you can submit it at https://fism.tv/tips/ | | | |
DoD Not Able to Account For 61% of Assets According to Recent Audit | | |
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DoD may follow in the footsteps of the Department of Homeland Security, which notably took a decade to pass a comprehensive audit.
Ian Patrick, FISM News
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The Department of Defense (DoD) has flunked its fifth consecutive audit according to a recently released financial report conducted by 1,600 auditors.
The yearly audit assesses the record-keeping processes of the Pentagon’s weapons systems, military personnel, and property around the world. The report consisted of “27 standalone audits conducted by independent public accountants (IPAs) and a consolidated Agency-wide audit performed by the Office of Inspector General of the DoD,” it reads.
The reason that the DoD failed this year? It was unable to account for 61% of its 3.5 trillion dollars’ worth of…(READ MORE)
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House Republicans Announce Investigation into Biden Family’s International Business Deals | |
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One SAR, according to Comer, indicated that Hunter Biden was doing deals with suspected human traffickers.
Jacob Fuller, FISM News
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Rep. James Comer (R-Ky.) and the Republican House Oversight Committee announced Thursday that it is launching an investigation into Joe Biden and his involvement with his family’s foreign business dealings to determine if the president “is compromised or swayed by foreign dollars.”
Comer said at a press conference that President Biden’s claim that he wasn’t involved in his son Hunter’s foreign business deals was a lie. He referenced Hunter’s leaked communications with business partners in which Hunter referred to someone as, “The Big Guy.”
“Whistleblowers described President Biden as ‘chairman of the board’ for these businesses. He personally participated in meetings and phone…(READ MORE)
SEE ALSO: House GOP Seeks Ukraine Aid Audit
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Legalized Physician-Assisted Suicide Correlates with Increased ‘Self-Inflicted’ Suicides | | |
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Jones writes that all “available evidence” indicates that “Legalizing euthanasia or assisted suicide does more harm than good...
Lauren Dempsey, FISM News
MS in Biomedicine and Law, RN
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A study conducted and published this month by Anscombe Bioethics Centre, which serves the Catholic Church in Great Britain and Ireland, unsurprisingly found that countries that have legalized assisted suicide or euthanasia have higher rates of “self-initiated” suicides.
The study evaluated multiple studies from Europe and North America, finding that the rates of self-inflicted suicides increased with the number of physician-assisted suicide deaths. The findings also suggested that women were more likely to die by self-inflicted suicide in countries that allow euthanasia and physician assisted…(READ MORE)
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Christian Groups Worry ‘Respect for Marriage Act’ Threatens Religious Liberty | |
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The amendment also confirms that polygamy is not recognized as a valid form of marriage.
Willie R. Tubbs, FISM News
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When the Senate voted to end cloture on the bill that will grant federal protection to same-sex marriages, some senators touted a recently added religious freedom amendment as sufficient to protect people who hold a traditional view of marriage from harassment at the hands of those who do not. However, not everyone is convinced the amendment will afford religious groups as much protection as advertised.
Earlier in the week, five senators — Thom Tillis (R-N.C.), Tammy Baldwin (D-Wis.), Susan Collins (R-Maine), Rob Portman (R-Ohio), and Kyrsten Sinema (D-Ariz.) — announced they had negotiated the creation of an amendment to the Respect for Marriage Act that would prevent activists and governmental agents from using the new law as a means of punishing people who object to marriage between anyone other than…(READ MORE)
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Analysis: Midterms Were Case Study in Overstatement | | |
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…the 2022 midterm provided more proof that neither the Republicans nor Democrats have found the pulse of the American public.
Willie R. Tubbs, FISM News
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Politicians and the media gadflies who surround them have a unique talent for simultaneously making too much and too little of issues, and the 2022 midterm was the latest sterling example of how the process works.
It’s become something of a tradition for journalists to memorialize every national election by lamenting that we are a nation divided. This line of reasoning is not only cliché, it’s also inaccurate.
Americans are far more alike than we are unalike, both in our actual beliefs and how we react to good and bad news, and that is one big lesson…(READ MORE)
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Left-Wing Groups Linked to Clinton, BLM Pressure Twitter Advertisers to Enforce Censorship | |
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“These groups are cancel culture incarnate, mixing left-wing advocacy with Democratic Party politics.”
Chris Lange, FISM News
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A dark money group linked to Hillary Clinton and BLM has launched an aggressive new censorship campaign targeting Twitter advertisers amid Elon Musk’s takeover of the social media platform.
Accountable Tech, a project funded by the North Fund, sent a letter signed by 25 other left-wing groups — including Media Matters and the Black Lives Matter Global Network Foundation — to top Twitter advertisers pressuring them to ensure that content moderation on the platform continues under Musk’s leadership.
The group laid out “non-negotiable” terms, chief among which is a commitment by advertisers to keep certain politicians and other public figures guilty of “egregious violations” off of the platform, Fox Business reported. Musk’s takeover, they said, poses a direct threat…(READ MORE)
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Republicans Finally Secure the House as Garcia Wins California’s 27th District | | |
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The president certainly attempted to be diplomatic in his first remarks after the fate of the House was known.
Willie R. Tubbs, FISM News
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A week and two days after Election Day, Republicans can officially rest easy in the knowledge that they will hold the gavel in the lower chamber of Congress for at least the next two years.
Although some Congressional races have still not been called, Republicans hit the magic number of 218 seats late Wednesday when California’s 27th district was called in favor of Mike Garcia.
Garcia has already claimed victory a day before, but on Wednesday the last of the major political prognosticators agreed that he was on track to defeat Democrat…(READ MORE)
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Money-Go-Round: Democrats, Ukraine, and the FTX Financial Fraud | |
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The link between Bankman-Fried, the collapse of his multi-billion-dollar cryptocurrency company, the Democratic party, and now Ukraine has raised serious questions about potential political motivations driving the U.S. and the Ukraine.
Chris Lange, FISM News
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Sam Bankman-Fried, the founder and former CEO of collapsed cryptocurrency exchange company FTX and Democrat mega-donor, reportedly set up a fundraising website for Ukraine in connection with the country’s Ministry of Digital Transformation and Ukrainian Internet company Everstake, Fox News reported.
Bankman-Fried donated nearly $38 million to Democrats during the midterm cycle, according to Federal Election Commission data, making him the party’s second-highest donor after only George Soros.
Alex Bornyakov, deputy minister of digital transformation of Ukraine, denied accusations that the country used government funds to invest in FTX, which then funneled the money to Democratic candidates, calling the theory…(READ MORE)
SEE ALSO: FTX Fallout: Tom Brady, other celebs sued for pushing ‘Ponzi scheme’
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World Population Exceeds 8 Billion for First Time in History | | |
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Certain estimates indicate that over 1 billion babies have been aborted worldwide in the last 50 years alone.
Seth Udinski, FISM News
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On November 15, 2022, humanity exceeded a historic milestone, as the global population officially hit 8 billion for the first time in world history.
The number of living people has increased exponentially as of late, having tripled since 1950 and increasing by 1 billion within the last generation alone.
According to statistics from the Tribune India, the last 200 years have seen the largest growth of the global population in world history. As recently as the year 1800, the global population was under 1 billion and at the start of the 20th century, the number sat at around…(READ MORE)
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Continued Nursing Shortage Could Cripple Healthcare System | |
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Even more so when you consider that almost one in four nurses report having observed discrimination based on race, sex, or age.
Lauren Dempsey, FISM News
MS in Biomedicine and Law, RN
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Nurses are the backbone of the healthcare system, providing 24/7 care to patients and continually working on the front lines. Yet, according to a survey conducted by OnePoll and connectRN.com, over half of nurses currently practicing are considering leaving the profession.
The survey included 1,000 American nurses from all over the country and aimed to better understand why so many nurses are experiencing burnout. The results were “sobering.” Nurses routinely feel that they cannot take a break, need more time off to recharge, and feel undervalued and unappreciated.
According to the survey, 90% of nurses believe the quality of patient care often suffers due to nursing shortages with 56% of nurses reporting that…(READ HERE)
SEE ALSO: Study: Moderna COVID vaccine three times more likely than Pfizer shot to cause heart inflammation
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Abbott Promises to Continue ‘Forceful Response’ to Border Crisis | | |
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Abbott used such language when he issued an executive order in which he quoted Article I, section 10 of the Constitution…
Willie R. Tubbs, FISM News
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Texas Gov. Greg Abbott plans to send more migrants north and east as part of a larger effort to force the hand of the Biden Administration at the southern border.
Each time Texas buses migrants to a Democrat-run city, the media responds with a litany of headlines, but the news this week is that Abbott is stepping up his efforts to compel a more resolute federal response.
Monday, this took the form of Abbott sending a letter to county judges in South Texas urging them to “remind” members of Texas’ newly elected U.S. Congressional Delegation “to fulfill their responsibility to secure the…(READ MORE)
SEE ALSO: Gov. Abbott declares invasion at border, deploys National Guard, DPS and Federal judge blocks US from using Title 42 to ban illegal migrants
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Amazon Begins Layoffs, Could Reach Up to 10,000 Employees | |
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The Amazon layoffs follow the news that Mark Zuckerberg-owned Meta Inc. laid off 11,000 employees...
Lauren C. Moye, FISM News
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Even as Amazon founder Jeff Bezos announced his intention to give away the majority of his $124 billion net worth during his lifetime, the cyber shopping platform has announced that up to 10,000 employers will be laid off beginning this week.
A layoff that size would hit roughly 3% of Amazon’s corporate staff, as first reported by the New York Times yesterday. It will primarily impact the devices organization, responsible for the “Alexa” related tech gadgets, human resources, and retail divisions.
Amazon’s bottom line has suffered this year. Despite higher net sales in each Quarter of 2022 than their respective 2021 counterparts, Amazon has experienced higher operating costs amid…(READ MORE)
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Democrats Keep Hold on Senate after Securing Nevada, Arizona Seats | | |
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He [Biden] added yesterday, “The American people overwhelmingly support our agenda.”
Chris Lange, FISM News
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Democrats will continue to hold control of the Senate no matter how Georgia’s run-off election resolves after holding onto the Nevada and Arizona seats up for grabs.
Saturday afternoon, the incumbent Senator Catherine Cortez Masto was declared the winner of Nevada over Republican challenger Adam Laxalt after a tight race. Only a little more than 6,500 votes separated the two with 98% of ballots counted.
On Friday, Senator Mark Kelly received 51.8% of the vote to keep possession of the seat. He beat out his GOP opponent Blake Masters by over 5 percentage…(READ MORE)
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Trump Officially Announces 2024 Presidential Bid | |
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He briefly reviewed his endorsement statistics for the midterms, saying his endorsements had 232 wins and only 22 losses.
Marion Bae, FISM News
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On Tuesday night, former President Donald Trump announced his much-anticipated candidacy for the 2024 Presidential nomination, surrounded by family and friends on his Mar-a-Lago estate.
“In order to make America great and glorious again I am tonight announcing my candidacy for President of the United States,” Trump said to cheers from the crowd.
He teased the announcement a week earlier, on the eve of the 2022 midterm elections, saying, “I’m going to be making a very big announcement on Tuesday, November 15, at Mar-a-Lago in Palm Beach Florida. We want nothing to detract from…(READ MORE)
SEE ALSO: New Poll Shows Republican Support Drifting from Trump to DeSantis
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Key GOP Lawmakers Call for Leadership Change after Failed ‘Red Wave’ | | |
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The primary target of all the ire, of course, is Senate Minority Leader Mitch McConnell (R-KY), who has led the Senate Republican Conference since 2007.
Chris Lange, FISM News
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The finger-pointing continues among key Republicans after the sweeping victories expected from the midterm elections failed to materialize.
Democrats managed to defy history, record-high inflation, and a largely unpopular president to retain control of the Senate, surprising even themselves. Meanwhile, the fate of the House, which many believed was going to be a landslide victory for the GOP, remains uncertain nearly a week after election day.
The first trickles of criticism levied at Republican leadership last week swelled over the weekend to a steady and very public stream of accusations…(READ MORE)
SEE ALSO: Senate Republicans vote to keep McConnell as leader – spokesperson
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Travel Prices Soar as Holidays Approach | |
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According to Reuters, “fuel is the industry’s second-biggest expense after labor … [and they] offset fuel costs with higher fares.”
Vicky Arias, FISM News
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Travelers anticipating a visit to family and friends for the holidays might be in for a big surprise when they see what it will cost them.
According to the fare-tracker site, Hopper, holiday season airfare is higher in 2022 than it’s been for the previous 5 years. Data on the site explains that “airfares will be 22% higher than in 2019, and 43% higher than last…(READ MORE)
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Watch Financial Issues Live & Much More on our New FISM App | | |
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UPDATE: In the "Listen Live" section of the App, You can now listen live and navigate to other areas of the app and throughout your phone.)
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Download Our New FISM App
Our new app was designed to offer more content and provide functionality and accessibility. Hopefully as we add aspects to it and continue to improve it, it will achieve this for all of you.
We realize there may be some wrinkles to iron out. So, when you open the app and select the FISMTV box at the top, you will see a tab below for APP HELP. There you will find FAQs and Tips & Tricks for using the app. (Learn more below.)
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Now Watch Financial Issues LIVE every weekday morning! | |
Listen live and call in ON AIR to 610-363-1110 with your questions for Shana every Monday-Friday between 8AM and 9AM CT. You can also now "chat" with Shana during the program using the WATCH LIVE link under the SHOW tab on our website.
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Financial Issues Stewardship Ministries, PO Box 270, Exton, PA 19341
www.financialissues.org / www.fism.tv
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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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