February 26, 2021
"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
Market Recap

For the week, the DJIA fell 1.8% to close at 30,932.37, the S&P 500 fell 2% to 3,811.15. The Nasdaq was down 4.9%, closing at 13,192.34

Fewer Americans filed new claims for unemployment benefits last week amid falling COVID-19 infections; the outlook for the labor market is uncertain as winter storms wreaked havoc in the South this month.
January saw a solid increase in demand for U.S. manufactured goods and retail sales increased by the most in seven months as there was a reopening of many services businesses as COVID recedes. Much of the brightening economic picture is being attributed to the December pandemic relief bill.
On Thursday, Stocks on Wall Street were trading lower with the Nasdaq posting largest daily fall since late October. The Dow and the S&P 500 notched their biggest daily decline since late January.
The dollar fell against a basket of currencies and The Treasury note yield rose above S&P 500 dividend yield, wiping out the stock market yield's strong advantage.
Apple, Amazon.com Inc, Microsoft Corp, Alphabet Inc (GOOG), Facebook Inc., and Netflix Inc dropped between 1.2% to 3.6%.
Tesla Inc fell 8.1% after a media report that the electric-car maker told workers it would temporarily halt some production at its California assembly plant.
Health care stocks declined moderately early Thursday; NYSE Health Care Index slipped 0.8% and the SPDR Health Care Select Sector ETF was down 1.2%. However, Moderna Inc jumped 2.5% after the drugmaker said it was expecting $18.4 billion in sales from its COVID-19 vaccine.
Consumer Stocks continued to lose ground Thursday afternoon, and Financial Stocks declined.
Daily coronavirus cases and hospitalizations have dropped to levels last seen before the Thanksgiving and Christmas holidays, while the pace of vaccination is picking up.
Commerce Dept reported on Thursday orders for non-defense capital goods excluding aircraft rose 0.5% in January after surging 1.5% in December. This accounts for 11.9% of the U.S. economy.
The Economy grew at a 4.1% rate last quarter, the Commerce Department said in its second estimate of fourth-quarter GDP on Thursday. That was a slight upward revision from the 4.0% reported in January and a sharp deceleration from a record 33.4% rate in the third quarter.
Microsoft Corp's failure to fix known problems with its cloud software facilitated the massive SolarWinds hack that compromised at least nine federal government agencies, according to security experts and the office of U.S. Senator Ron Wyden. U.S. officials have blamed Russia for the massive intelligence operation that penetrated SolarWinds.
Boeing Co will pay $6.6 million to U.S. regulators as part of a settlement over quality and safety-oversight lapses going back years.
Airbnb bookings rebound as lockdown-weary Americans step out for short trips.
Energy stocks were sharply higher Thursday, with the NYSE Energy Sector Index climbing 2.9% while the SPDR Energy Select Sector ETF also was up 3.0%.
IEA says Oil Demand Won't Recover to Pre-COVID levels by year-end, Nat Gas Demand May Recover to 2019 levels by year-end.
The U.S. Senate on Tuesday confirmed Tom Vilsack to head the Department of Agriculture, returning the former Iowa governor to the job he held under ex-President Barack Obama.

Stocks Close Mixed, End Week Lower
The U.S. dollar rose against most major currencies on Friday as U.S. government bond yields held near one-year highs, while riskier currencies such as the Aussie dollar weakened.
Bond Markets suffering from U.S. to Britain, to Germany and Australia, as government borrowing costs are set to end February with biggest monthly rise in years due to inflation outlook.
U.S. Treasury Secretary Yellen announced a withdrawal of the U.S. Safe Harbour Proposal and its opposition to the idea of global rules on taxing at a meeting of finance ministers and central bankers of the world's top 20 economies on Friday, a G20 official said.
The leaders of the IMF and World Bank on Friday vowed to step up efforts to combat climate change by monitoring climate-related financial stability risk and using other tools at their disposal.
US benchmark oil prices tumble at the end of the session to close 3.2% lower at $61.50 a barrel, putting an end to four straight sessions of increases.
Kansas City Federal Reserve's monthly composite services index fell to a reading of 1 in February from 8 in January, suggesting only modest growth.
Personal income surged 10.0 percent in January, boosted, as expected, by federal stimulus payments. January's advance was the largest since April 2020.
Although income far outpaced spending, the latter still recovered 2.4 percent on the month as measured by personal consumption expenditures, consistent with the strong retail sales rebound over the month.
The consumer sentiment index for February is a still depressed 76.8, closing out the weakest month since August. This index was just over 100 when the pandemic first struck early last year.
The February Chicago PMI reading fell to 59.5 from 63.8 in January, while regional manufacturing data for February indicates continued widespread expansion. The National ISM manufacturing index will be released on Monday.
State and local government pension systems are increasingly dependent on investment returns, and at risk of increasingly volatile results.
Global equity markets swooned on Friday, with fears of rising inflation weighing on sentiment as data showed a strong rebound in U.S. consumer spending.
Natural gas prices end a slight 0.2% lower at $2.771, their seventh straight session of declines as warmer weather and weaker demand means fewer investors are interested in buying the commodity. For the week, gas prices end 7.3% lower, snapping a four-week winning streak.
Health care stocks were slightly lower, with the NYSE Health Care Index falling 0.3% and the SPDR Health Care Select Sector ETF down 0.3%. Moderna and Pfizer Inc. both outperformed competitors.
American dairy farms continue to decline, with farmers facing another difficult year as rising grain prices boost animal feed costs and gains in US milk production outstrip demand.
Severe winter cold and snow in the southern US led to the loss of more than 1 M chickens this month. Poultry market prices already has been rising, due partly to fast- food chicken sandwich launches. Wholesale chicken prices last week were up more than 48% from a year ago.
The benchmark 10-year U.S. Treasury yield eased to 1.451% after jumping 1.614% overnight, roiling stock markets. The 10-year note fell 1.7 basis points to 1.4977%. Tech Stocks are particularly sensitive to rising yields.
U.S. trade deficit in goods widened to $83.7 billion in January from a revised $83.2 billion in the prior month, making it the second highest gap on record.
Gold futures fell for a fourth consecutive session on Friday to finish the session at their lowest since June, amidst a stronger dollar and rising Treasury yields. Silver ends month 1.85% lower at $26.402. Copper prices scored their largest monthly gain in over four years, up 14.58% at $4.0945.
GameStop Corp jumped 11% as retail investors pushed up the stock in a renewed rally. Salesforce.com Inc slipped about 1.3% as the online software company forecast full-year profit below market expectations.
For the month, Nasdaq, which had its worst week since October, ended roughly 1.8% higher while the S&P 500 posted a monthly gain of about 3.5%. Although the Dow closed at a 3-week low, it still posted gains of nearly 4% for the month.
For the week, the DJIA fell 1.8% to end at 30,932.37, and the S&P 500 fell 2% to 3,811.15. The Nasdaq Composite, despite gaining 0.8% Friday, lost 4.9% for the week closing at 13,192.34, its sharpest weekly drop since October.

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Propaganda vs. Journalism – Project Veritas Will Strive to ‘Get the Information to the Public’
We have undercover journalists who have been doing this for years…

Dan Celia, President & CEO of FISM Inc.
Censorship is a hot topic as of late, since former President Donald Trump and other conservative voices have been removed from multiple platforms. Whether blocked completely or temporarily, these voices have been forced to either fight or find ways around their predicament as a completely different agenda is constantly pushed.
Dan Celia talks with Project Veritas’ Mario Balaban about the future of Project Veritas and what the organization will do to maintain its presence and promote its information. (WATCH VIDEO)
G20 To Push Major Tax Deal By Summer After U.S. Ban Dropped
We could have a global recession to the likes of which we haven’t seen in a very long time…

Seth Udinski, FISM News
To the delight of G20 officials, the Biden Administration is once again revoking the pro-American policies of the Trump Administration. U.S. Treasury Secretary Janet Yelen announced this week that the United States has dropped a ban instituted by President Trump to allow businesses to opt out of new global tax rules.
The G20 Organization, a conglomerate of economic leaders from the U.S., the E.U., and several other advanced nations, is fixated on a worldwide tax deal to fight the effects of the COVID-19 pandemic. G20 is pushing for the tax deal to be instituted by the summer of 2021. Without the protection of President Trump’s ban, many small businesses could face devastating economic consequences. While many on the left will celebrate this new development…(READ MORE)
Kids in Cages? DHS Reopens Teen Migrant Facility
She said the hope for these teens is that they can “then be transferred to families or sponsors.”

Samuel Case, FISM News
A talking point for Democrats throughout the Trump presidency was that he put “kids in cages” under his zero tolerance border enforcement. Fox News explains that until 2018 “adults were taken to court for criminal proceedings, while their children were separated from them.” If the process took longer than 72 hours or if the charges took longer than 72 hours to process, they were removed from the custody of Customs and Border Protection and sent to the Department of Health and Human Services. Trump ended this policy in 2018 via executive order.
Democrats, including Joe Biden and Kamala Harris, railed against the inhumanity and horror of this policy. Representative Alexandria Ocasio-Cortez, along with others Democrats, claimed America had concentration camps on the border.
Now, the Biden administration…(READ MORE)
Biden’s AG Pick Fails to Give Straight Answers in Senate Hearing
One issue the next Attorney General is sure to face is Andrew Cuomo’s apparent under reporting of COVID-19 deaths in nursing homes…

Samuel Case, FISM News
Judge Merrick Garland, Biden’s pick for Attorney General, faced rigorous questioning from the Senate Judiciary Committee on Monday as the body considers whether to approve Garland as the next head of the Justice Department.
Garland was Barack Obama’s choice to fill the role of Supreme Court Justice following the death of Antonin Scalia, but was denied a hearing by Senate Republicans prior to the 2016 presidential election.
Now Garland has been given a second chance at facing the Senate, and while appearing pleasant and amicable, the judge’s answers to questions on hot button issues of law were vague at best. His continued refrain was…(READ MORE)
Ahmaud Arbery’s Mother Filing Civil Suit Against Everyone Involved in Her Son’s Death
February 23 was the anniversary of his death, which was remembered by the President and Vice President

Ian Patrick, FISM News
The mother of the late Ahmaud Arbery has decided to file a civil lawsuit against the three men who were charged with killing her son last February, as well as the police officers involved. The suit includes 14 counts that altogether seek $1 million dollars in damages from all of the plaintiffs.
Last year, during the wake of the Black Lives Matter riots, video of the fatal altercation between Arbery and these men circulated on social media. Taken by one of the three men charged with his murder, the graphic video shows Arbery struggling with the other two men as he is shot multiple times. The three men had followed Arbery for a considerable time, believing him to be a burglary suspect, before the confrontation. They were later arrested and charged with murder…(READ MORE)
Proposed Immigration Bill Would Give Amnesty to 11 Million Immigrants
At the heart of the bill is legislation that would provide an 8-year citizenship path to at least 11 million illegal immigrants already in the US.

Michael Cardinal, FISM News

Democrats introduced Joe Biden’s sweeping immigration bill to Congress on Thursday, in what is in essence a declaration statement by Democrats. The sweeping bill known as US Citizenship Act of 2021 seeks to reverse former President Donald Trump’s immigration policies in what would be the largest immigration reform in decades.
The bill is unlikely to pass as-is, as it would need at least 10 Republican votes to avoid a filibuster. Senator Robert Mendez who was a co-author of the bill stated, “We know the path forward will demand negotiations with others, but we are not going to make concessions out of the gate. We will never win an argument that we don’t have the courage to make.” However, negotiations may not be needed if the Democrats continue the trend…(READ MORE)
What Man Meant for Evil, God Meant for Good [OP-ED]
Our greatest example of this is the Lord Jesus Christ on the cross.…

Seth Udinski, FISM News
The problem of evil has baffled theologians, philosophers, academics, pastors, parents, children, and everyone in between. For Christians, how do we reconcile a loving God, who has ordained all things in His sovereignty and power, with the overwhelmingly rampant evil in the world?
Some claim that God must not be truly loving. Perhaps he does have the power to prevent evil, but he does not do it because he does not care. Others rejoice in a God of love, but they wrongly believe he cannot stop evil. Either he is not powerful enough, or perhaps in “love” he bows to human autonomy and human free will. The biblical response is wonderfully different.
God did not and does not create evil. We are inherently evil, having inherited a nature of rebellion…(READ MORE)
Justice Thomas Writes Scathing Dissent After Court Denies Pennsylvania Election Appeal
He also argued that concerns over election fraud are not necessarily illegitimate…

Samuel Case, FISM News

On Monday, the United States Supreme Court turned down an appeal from Republicans that challenged a decision by the Pennsylvania Supreme Court allowing ballots received three days after Election Day in the 2020 presidential election to be counted as valid. Republicans argued that this ruling was beyond the scope of the court, as election laws are handled by state lawmakers.
Three of the courts conservative Justices, Clarence Thomas, Samuel Alito, and Neil Gorsuch, voted to take up the case. Justice Amy Coney Barrett did not participate in the vote.
Justice Thomas wrote a scathing dissent, calling into question…(READ MORE)
Democrats Re-Introduce Equality Act in the House
This bill is not at all surprising, considering the president’s recent removal of the transgender military ban…

Seth Udinski, FISM News
Last week, the Democrat-controlled House of Representatives introduced the Equality Act to codify anti-discrimination laws against the LGBTQ community. The Act was previously introduced in 2019 during the presidency of Donald Trump; it passed the Democratic-run House but was stopped in the Republican-controlled Senate. Now that the Democrats control the Senate, the House, and the presidency, the chances of the bill passing are significantly higher.
President Joe Biden released a statement Friday, praising the new potential law as “a critical step toward ensuring that America lives up to our foundational values of equality and freedom for all.” (READ MORE)
Democrats Set to Push Through $1.9 Trillion Relief Bill
One of the biggest items of concern is that the bill contains a staged increase of minimum wage that will reach $15 an hour by 2025.

Michael Cardinal, FISM News

President Joe Biden’s COVID relief bill gained momentum on Friday when the House Budget Committee unveiled the final version of their American Rescue Plan Act of 2021. The $1.9 trillion bill contains nearly in full what Democrats have been discussing for weeks, including direct payments of $1,400 to individuals who make under $75,000 a year, $10 billion in relief to small businesses, an increase and extension of unemployment payments, and $350 billion to bail out state governments.
The bill, which has been discussed in Washington since Biden took office, provides no evidence of compromise to Republican concerns despite the fact that he met with Republican senators to discuss a bi-partisan version. This is further evidence that Biden’s call for unity is in theory only. When it comes to actual policy, Biden has shown no desire to find middle…(READ MORE)
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