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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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In The Know: Week of September 6, 2024
Economy is slowing as Small Businesses Lose Jobs
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Keep your heart with all vigilance, for from it flow the springs of life. - Proverbs 4:23
Our hearts are of utmost importance. It is from our hearts that our actions flow. If our hearts do not belong to God, we will reap tragic consequences.
It is for this reason that the scriptures command us to “keep” our hearts, another way of saying to “guard” or “defend” them. We must protect our hearts, which are prone to being easily deceived, from all wickedness, training them to love Christ and regard Him as better than anything else. We do this by surrendering our very selves to the lordship of King Jesus. Let us guard our hearts by entrusting them to Christ.
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 St Slides to Over 3-Week Low after Mixed Payrolls Data
The DJIA lost 1,217.67 points, or 2.9%, to close at 40,345.41.
The Nasdaq fell 1,022.79 points, or 5.8%, ending at 16,690.83.
The S&P dropped 239.98 points, or 4.2%, closing at 5,408.42.
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The Dow Jones Industrial Average lost 410.34 points, or 1.01%, to close at 40,345.41; the Nasdaq Composite fell 436.83 points, or 2.55%, ending at 16,690.83; the S&P dropped 94.99 points, or 1.73%, closing at 5,408.42.
Wall Street's main indexes fell to their lowest in over three weeks on Friday after a crucial jobs report did little to clear uncertainty around the size of the Federal Reserve's rate cut.
Health care stocks declined late Friday, with the NYSE Health Care Index easing 0.1% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.
Tech stocks tumbled late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) dropping 2.7% and the SPDR S&P Semiconductor ETF (XSD) falling 4.4%. The Philadelphia Semiconductor index fell 4.6%.
Financial stocks declined in late Friday afternoon trading with the NYSE Financial Index falling 1.4% and the Financial Select Sector SPDR Fund (XLF) dropping 1.6%.
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Consumer stocks were decreasing Friday afternoon, with the Consumer Staples Select Sector SPDR Fund easing 0.3% and the Consumer Discretionary Select Sector SPDR Fund falling 2.2%.
Energy stocks declined Friday afternoon with the NYSE Energy Sector Index falling 1.4% and the Energy Select Sector SPDR Fund (XLE) dropping 1.6%.
The Philadelphia Oil Service Sector Index dropped 2.4%, and the Dow Jones US Utilities index lost 0.4%.
West Texas Intermediate crude oil fell 1.6% to $68.08 a barrel, while global benchmark Brent dropped 1.8% to $71.41 a barrel. Henry Hub natural gas futures rose 1.5% to $2.29 per 1 mill. BTU.
Gold traded lower by afternoon on Friday even as treasury yields fell and the dollar steadied following the latest in a series of reports. U.S. gold futures settled 0.7% lower at $2,524.60. Spot silver fell 3.1% to $27.92. Platinum retreated 0.4% to $920.55 while palladium dropped 3.1% to $913.00.
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Nine out of 12 Federal Reserve regional districts reported flat or declining economic activity in August. That is a significant jump from the July report.
Traders are betting on an upsized 50 basis point reduction in the Fed’s anticipated rate cuts this month after data released this week showed lower than expected.
Social security recipients could see their benefits cut by 21% in 2033, when a critical trust fund is depleted.
The OPEC+ alliance has agreed to extend current oil output cuts for an additional two months.
The labor market continued to cool in August, with job creation among private employers contracting for the fifth straight month and wage growth remaining stable.
Stocks fell and bonds rose Thursday as traders mulled mixed readings on the labor market for clues on the Federal Reserve’s next steps.
The U.S. dollar's decline is gaining speed as anticipated interest rate cuts by the Federal Reserve threaten to end the greenback's years-long period of strength.
Venezuela's August oil exports hit their highest in more than four years, according to shipping data, fueled by expanded shipments to China, the U.S. and Europe.
Kamala Harris announced a proposal Wednesday for a lower top tax rate for long-term capital gains than Biden proposed in his 2025 budget blueprint.
Goldman Sachs analysts said in a note late Wednesday that Kamala Harris' proposed corporate tax hike could reduce S&P 500 company earnings by roughly 5%.
Nippon Steel's proposed $14.9 billion takeover of U.S. Steel would create national security risks, hurting the steel supply for transportation, infrastructure, construction and agriculture projects.
Democratic presidential candidate Kamala Harris will meet with the International Brotherhood of Teamsters on Sept. 16 as the union considers a potential presidential endorsement.
The Federal Reserve said on Thursday it was seeking feedback on how it operates its "discount window," which is intended to provide emergency lending to banks in times of stress.
Looming interest rate cuts may not immediately spur a rush out of cash-like instruments, as yields on some government bonds could take months to fall below those on longer-term debt.
U.S. employment increased less than expected in August, but a drop in the jobless rate to 4.2% suggested an orderly labor market slowdown.
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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. | |
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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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FISM "News" Will Be Dissolved as of September 27, 2024
Dear faithful partners, viewers, and listeners,
In an effort to be good stewards of the resources God has provided us, we have made the difficult decision to dissolve our news program as of September 27th, 2024.
This is a difficult decision for us as our news program was a passion project of our founder, Dan Celia, and because our News Team has done a tremendous job in building a platform and program over the past 3 years that our audience could trust. Unfortunately, the news market is a saturated industry and we were not able to create the inroads necessary for the program to support itself. For this reason, our board and leadership team have determined that our resources are best utilized to support our partners and expand Financial Issues.
The core of our mission is to help Christians be good stewards of their finances and we believe the best way to serve our mission and God’s people is to channel all resources to build upon the foundation that Dan set for Financial Issues. As we enter the next fiscal year on October 1st, all our efforts will be reallocated toward partnership resources, Financial Issues, and reaching more people with our message of biblical stewardship.
We are thankful to all of you who have helped support this aspect of the Ministry for the past several years. We pray that the news was able to reach a different audience for the Kingdom that may have never listened to Financial Issues. Our goal has always been, and continues to be, to Expose Jesus for Who He is, what He means, and all He can do, and we plan to continue to do this as we engage the church and the culture at large with the message of stewardship and BRI.
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Darryl Cooper on Tucker Carlson’s Show Proves Danger of Abandoning Truth
In the Christian walk, few things are as important as truth. From the all-caps truths of salvation through Jesus alone and the teachings of the Bible to the lowercase truths that center on honesty, accuracy matters (or should) to the child of God.
Even in a world in which it feels like there are no anchor points, truth still exists, both through the power of God and in the eyes of reasonable people. There are statements and stances that, even if made by a person who sincerely believes them, are patently false.
That’s perhaps the primary reason why so many people are so irate about the words of Darryl Cooper, who went on Tucker Carlson’s show to make claims that were baldly incorrect under the guise of asserting his truth about the facts of the Second World War.
Read More
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Breaking Down Trump and Harris’ Economic Plans
U.S. voters have a choice this November between two disparate economic plans.
Vice President Kamala Harris calls for greater taxes on the ultra-wealthy and a 28-percent corporate tax rate. She’s earmarked that revenue for stimulating new home construction and funding a home buyer assistance program. She also wants to expand the child tax credit.
In contrast, former President Donald Trump wants greater tax cuts and an end to taxes on social security income. His plan calls for the corporate tax rate to drop to 15 percent.
Watch Here
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Republican Senators offer different takes on Trump’s IVF plan
Republicans are coming out in droves to comment on former President Donald Trump’s take on IVF treatments. Specifically, Trump said last week that his administration would look to provide financial support to cover some of the cost of the rather expensive procedure.
Since then, other Republicans have commented on this platform.
Sen. Lindsey Graham (R-S.C.) told ABC News’s “This Week” program on Sunday that he does not support this type of coverage. But another Republican, Sen. Tom Cotton of Arkansas, said that he is at least “open” to Trump’s proposal.
Watch Here
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Trump Comments on His Mortality, Says Religion Is Good for the US
Donald Trump reflects on his own mortality, saying the US needs a religious revival.
The 2024 presidential candidate appeared on Russian-American Lex Friedman’s podcast earlier this week, where they discussed various topics on politics and culture.
When Friedman asked if Trump was afraid of death, the business mogul replied, “I think about it every minute of every day,” adding, “it is what it is.” But he went on to say that religion would be good for this country.
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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KEEP IN TOUCH
WITH 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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