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In The Know: Week Of November 17, 2023
Making Sense of Disappointing Earnings with Positive Inflation Numbers
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I have shown you in every way, by laboring like this, that you must support the weak. And remember the words of the Lord Jesus, that He said, ‘It is more blessed to give than to receive.’ ~ Acts 20:35
Thanks to the Apostle Paul, speaking by the power of the Holy Spirit and recorded for all of history by the Holy-Spirit-inspired pen of Luke, we have in the canon of scripture a rare quotation from our Lord Jesus Christ that was not recorded in the four gospels.
These are precious words indeed. Here we are reminded of a foundational truth, that it is far better to give and be generous than it is to receive. Why is this true? I believe it is because when we are generous, we are exhibiting the very heart of God, who is extravagantly and abundantly generous with His children. When we are generous, we are like God! Let us therefore be extravagantly generous, as a reminder of the way in which God has been extravagantly generous with us, by giving us our perfect Redeemer to save us from sin.
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: Wall Street Loses Steam as Traders Access Fed Comments
The DJIA gained 664.18 points, or 1.9%, to close at 34,947.28.
The Nasdaq rose 327.27 points, or 2.4%, ending at 14,125.48.
The S&P added 98.78 points, or 2.2%, closing at 4,514.02.
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The Dow Jones Industrial Average added 1.81 points, or 0.01%, to close at 34,947.28; the Nasdaq Composite gained 11.81 points, or 0.08%, ending at 14,125.48; the S&P 500 rose 5.78 points, or 0.13%, closing at 4,514.02.
Wall Street's three main stock indexes rose slightly on Friday as investors digested recent gains while remarks from Federal Reserve officials clouded the outlook about when the U.S. central bank might start cutting interest rates.
Health care stocks eased Friday afternoon with the NYSE Health Care Index falling 0.1% and the Health Care Select Sector SPDR Fund (XLV) down 0.2%.
Tech stocks were increasing Friday afternoon, with the Technology Select Sector SPDR Fund (XLK)up 0.1% and the Phila Semiconductor index adding 0.7%.
Consumer stocks were mixed Friday with the Consumer Staples Select Sector SPDR Fund (XLP) declining 0.1% and the Consumer Discretionary Select Sector SPDR Fund (XLY) rising 0.7%.
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Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 0.7% and the Financial Select Sector SPDR Fund (XLF) adding 0.4%.
Energy stocks jumped Friday afternoon, with the NYSE Energy Sector Index gaining 2.6% and the Energy Select Sector SPDR Fund (XLE) rising 2.3%.
The Philadelphia Oil Service Sector index was posting a 2.2% increase and the Dow Jones US Utilities index was marginally up.
West Texas Intermediate crude oil was up 3.9% to $75.74 a barrel while the global benchmark Brent crude was down slightly at $80.47 a barrel. Henry Hub natural gas futures were 3.6% lower at $3.12 per 1 million BTU.
Gold prices lost ground on Friday but were headed for a weekly gain. U.S. gold futures fell 0.2% to $1,982.90. Silver futures were down 0.6% at 23.79. Palladium futures were up at 1062.00 Platinum futures were down slightly at 902.00.
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U.S. consumer prices were unchanged in October as Americans paid less for gasoline, and the annual increase in underlying inflation was the smallest in two years, bolstering views that the Federal Reserve was probably done raising interest rates.
U.S. retail sales fell for the first time in seven months in October as motor vehicle purchases and spending on hobbies dropped, pointing to slowing demand at the start of the fourth quarter that further strengthened expectations the Federal Reserve is done hiking interest rates.
U.S. businesses maintained a fairly solid pace of inventory investment in September amid rising sales, government data showed on Wednesday.
Chinese companies are buying up U.S. chipmaking equipment to make advanced semiconductors, despite a raft of new export curbs aimed at thwarting advances in the country's semiconductor industry, a congressional report said on Tuesday.
U.S. shoppers are expected to spend between $273.7 billion and $278.8 billion online this holiday season, an increase between 7% and 9%, according to the National Retail Federation.
With gas prices and airfares falling it will be cheaper for Americans to get to Grandma's or wherever they celebrate Thanksgiving this year, and when they arrive they'll find another happy price shock: The turkey and sides will cost less than last year.
Growing confidence that U.S. bond yields have hit their peak and could head lower from here looks set to make the housing market more affordable in coming weeks.
The yield on the 10-year Treasury note, which influences U.S. mortgage rates, slid to below 4.50% on Tuesday, less than a month after it nosed above the 5% level.
Producer prices unexpectedly declined month over month in October, at the steepest pace since April 2020, while annual wholesale costs didn't rise as much as expected.
New York manufacturing activity unexpectedly moved into expansion territory in November, reaching its highest level since April, though the outlook deteriorated to its lowest reading in almost a year, the New York Fed reported.
Amazon.com on Friday announced it is trimming jobs at its Alexa voice assistant unit, citing shifting business priorities and a greater focus on generative artificial intelligence.
U.S. single-family homebuilding increased marginally in October and activity could remain moderate in the near term amid higher mortgage rates, which sent homebuilder confidence tumbling to an 11-month low in November.
Are U.S. stocks poised to continue their dramatic run, or is a pause ahead? That's the question investors are asking as the S&P 500 heads into the close of the year with a fresh record high coming into view.
The Kansas City Federal Reserve's monthly composite services index rebounded to a reading of 1 in November after falling to minus 1 in October, a return to modest expansion.
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Send in your family Christmas pictures!
FISM partners are more than just investors, you are all part of the FISM family. As part of a tradition that Dan started years ago, we would love to include a picture of you and/or your family on the FISM Christmas tree. As we reflect on the most important gift this season, we also give thanks for the blessing of all of you.
Please send your individual/family picture to Trinity Cardinal at [email protected] by Tuesday, December 5th alongside a note of how many years you have been a partner. Then, be on the lookout throughout December for your picture on our tree during the live broadcast.
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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 7pm ET 6pm CT on fism.tv/watch. | | |
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Stopgap Bill’s Chief Redeeming Quality Is Fact It Could Pass
Typically, when the federal government passes any major spending bill, journalists dedicate countless words to breaking down the ins and outs of the legislation.
When it comes to the recently passed stopgap bill, that custom can largely be ignored. Newly elected Speaker of the House Mike Johnson (R-La.) delivered on his promise to address the funding of the federal government in such a way that it can be summarized in two words: status quo.
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290,000 Attend Israel Rally Despite Growing Demands for Ceasefire
Amid rising antisemitism and pro-Hamas sentiments, support for Israel and the Jewish people remains strong in the U.S.
Tuesday marked perhaps the largest gathering of Jews in the United States, a large rally at the National Mall in Washington, D.C. Organizers of the pro-Israel rally said 290,000 people attended the event, while another 250,000 watched on livestream, according to the Jewish Telegraphic Agency.
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Biden-Xi Meeting Was Positive … Until It Ended
For a man routinely mocked for his inability to string together sentences in even prepared remarks, President Joe Biden’s greatest blunder might have occurred Thursday when he stumbled through sharing a fact.
Immediately following what was marketed by the White House as a highly productive meeting with Chinese leader Xi Jinping in San Francisco, Biden responded truthfully when asked by a reporter if he felt Xi was a dictator.
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Tragic Death of Baby Indi a Cautionary Tale for Government-Funded Healthcare
Indi Gregory, the 8-month-old girl at the center of a legal battle in Britain, passed away in her mother’s arms at 1:45 a.m. Monday, as reported by The Christian Post. UK Health officials issued a court order to withdraw life support from the baby girl against the wishes of her parents.
The UK’s publicly-funded Nottingham University Hospitals National Health Service (NHS) determined in October that it was in the “best interests” of Indi, who suffered from a rare mitochondrial disease, to be removed from life support. Indi’s parents had appealed the decision.
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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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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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