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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 October 4, 2024
Striking Dockworkers Reach Settlement to Increase Wages
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He is not afraid of bad news; his heart is firm, trusting in the LORD. - Psalm 112:7
In this passage, the Psalmist gives us a picture of the ideal man of God - the man who is righteous in what he does.
One of the qualities of a righteous man is that he is not disturbed by bad news. He is steadfast in his trust in the Lord, and this is what guides him. He is not moved and disrupted by chaos around him, because his heart is anchored firmly to the Lord. Let us strive to be like the righteous man. In our investing and in every area of our lives, we must learn to guide our hearts to cling tightly to the Lord, no matter the chaos around us.
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: Indexes End Higher as US Jobs Data Eases Worries about Economy
The DJIA gained 39.75 points, or 0.09%, to close at 42,352.75.
The Nasdaq rose 18.26 points, or 1%, ending at 18,137.85.
The S&P added 12.90 points, or 0.2%, closing at 5,751.07.
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The Dow Jones Industrial Average gained 341.16 points, or 0.81%, to close at 42,352,75; the Nasdaq Composite rose 219.37 points, or 1.22%, ending at 18,137.85; the S&P added 51.13 points, or 0.90%, closing at 5,751.07.
U.S. stocks surged on Friday, with the S&P 500 near a record high and the Nasdaq gaining more than 100 points as a crucial labor report allayed concerns of a weakening jobs market and bet on a smaller interest-rate cut.
Health care stocks were mixed late Friday afternoon, with the NYSE Health Care Index easing 0.1% and the Health Care Select Sector SPDR Fund (XLV) up 0.1%.
Tech stocks were gaining late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 1% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.4%. The Philadelphia Semiconductor index added 1.5%.
Financial stocks advanced in late Friday afternoon trading with the NYSE Financial Index rising 1.1% and the Financial Select Sector SPDR Fund adding 1.6%.
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Consumer stocks rose late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund up 0.2% and the Consumer Discretionary Select Sector SPDR Fund adding 1%.
Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index and the Energy Select Sector SPDR Fund (XLE) each rising about 0.6%.
The Philadelphia Oil Service Sector Index was adding 0.8%, and the Dow Jones US Utilities Index was shedding 0.2%.
West Texas Intermediate crude oil rose 0.9% to $74.35 a barrel while the global benchmark Brent crude contract advanced 0.5% to $78.01 a barrel. Henry Hub natural gas futures slumped 4.3% to $2.84 per 1 million BTU.
Gold prices fell on Friday after a stronger-than-expected U.S. jobs report. U.S. gold futures fell 0.38% to $2,647.10 an ounce. Spot silver rose 1.2% to $32.43 headed for a weekly gain. Platinum fell 0.1% to $989.33 and palladium was steady at $1,000.
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A high-stakes corporate earnings season kicks into gear next week, with bullish investors hoping results will justify increasingly rich valuations in a U.S. stock market near record highs.
U.S. job gains increased by the most in six months in September and the unemployment rate fell to 4.1%, pointing to a resilient economy.
Private companies added 143,000 jobs in September, up from 103,000 in August, and exceeding the anticipated 128,000.
Israel is reportedly preparing to destroy either Iran’s nuclear or oil facilities in response to Tuesday’s missile attack.
Helene is now the second deadliest hurricane to hit the mainland U.S. in the past 55 years, being surpassed only by Hurricane Katrina in 2005.
On Monday a Georgia judge struck down the state’s six week abortion ban, calling it “arbitrary” and saying that “liberty” in Georgia includes “the power of a woman to control her own body.
There were an estimated 8.04 million job openings in August, up from an upwardly revised 7.71 million in July.
The Conference Board’s consumer confidence index slid to 98.7, down from 105.6 in August, marking the biggest one-month drop off since August 2021.
A growing number of Gen Zers plan to pursue traditional blue-collar jobs in trades like welding, plumbing and electrical work as young adults lose faith in the value of a college degree.
Republican presidential candidate Donald Trump said on Thursday that if he is elected in November, no state will be able to ban gasoline-powered cars or trucks.
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International Longshoremen’s Association Ends Port Strike After Reaching Wages Agreement
The International Longshoremen’s Association (ILA) ended their strike on Thursday evening, after reaching a tentative agreement on wages with the United States Maritime Alliance.
Approximately 50,000 members of the union have been striking since Tuesday, per CNN, which halted all shipments at ports on the East Coast and in the Gulf. The employees will now return to work on Friday.
The agreement extends the previous contract, which had expired on Monday night, through the middle of January and is only meant to serve as a placeholder while details on a full agreement are worked out. The agreement would then need to be ratified by the union.
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Another day, another October surprise | |
In an election season that has already seen two assassination attempts on one major party candidate and the drop-out of the incumbent commander-in-chief after the primary, one could be forgiven for thinking that there exists little room for more genuinely shocking events that might alter the dynamics of the race.
And yet, in the past week alone, Americans have been bombarded with a series of exactly that, from a catastrophic hurricane ravaging an ill-prepared mountain region, to a labor strike effectively shutting down shipping all along the East Coast, to a major escalation in the Middle East, to a bombshell court filing in a criminal case against a former president.
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Judge Unseals Legal Brief Targeting Trump Just One Month from Election Day | |
Former President Donald Trump is blasting the Biden-Harris Justice Department for “weaponizing” the legal system in a political “hit job” against him as a federal judge is releasing a lengthy brief accusing Trump of election interference crimes.
On Wednesday, Obama-appointed U.S. District Court Judge Tanya Chutkan unsealed a brief filed by Special Counsel Jack Smith in his continuing case against Trump related to the former president’s handling of the 2020 presidential election.
In unsealing Smith’s brief, Chutkan only redacted the names of sources, preventing Americans interested in the case from determining the credibility of said sources.
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Asheville's needs are vast and varied | |
Efforts to meet basic needs are underway.
Some restaurants on the brink of losing coolers full of perishables have set up grills, tables and chairs in their parking lots to feed people for free.
But while Asheville has gotten much of the coverage, small towns that are harder to reach — in Madison, Yancey and Polk counties, for instance — remain inaccessible with washed out roads or lack of cell signal.
The region’s food bank, MANNA, has been an industry leader in feeding people. But its warehouse was destroyed by flooding.
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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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