For the week, the DJIA dropped 498.33 points, or 1.4%, to close at 35,601.98. The S&P 500 was up 15.11 points, or 0.3%, to 4697.96. The Nasdaq rose 196.48 points, or 1.2%, to close at 16,057.44.

U.S. homebuilding dropped in October while the number of houses authorized for construction but not yet started jumped to a 15-year high, highlighting the ongoing shortage of materials and labor.

 

Target raised its sales forecast for the holiday season, boosted by early Christmas shopping by Americans, even as the retailer warned of higher costs, fueling concerns that its margins could come under more pressure.

 

President Biden will likely decide on who he will nominate to head the U.S. Federal Reserve before Thanksgiving, a White House spokesperson said on Wednesday.

 

Inflation, monetary policy tightening and cyber attacks could heighten systemic risks to the U.S. financial system, according to the U.S. Treasury Research Office.

 

U.S. Treasury Secretary Janet Yellen extended a deadline for a potential U.S. government default to Dec. 15 from Dec. 3, giving Congress more time to raise the federal debt ceiling.

 

Wages for truckers and warehouse workers may need to rise to resolve shipping backups, says the chairman of the U.S. Federal Maritime Commission.

 

US factory output bounced back in October as the impact of Hurricane Ida waned while manufacturing returned to growth, hitting a more than two-and-a-half-year high. Industrial production increased 1.6% last month after a 1.3% slide in September.

 

U.S. Senator Joe Manchin is looking favorably at the prospect of Jerome Powell being renominated as Federal Reserve chair.

 

Initial jobless claims fell less than expected last week, with expectations growing for a rocky holiday season ahead.

Friday Recap: Nasdaq closes above 16,000 for the first time; Dow down again

The Nasdaq Composite Index closed above the 16,000 mark for the first time on Friday, in its second-straight record finish, while the Dow succumbed to its fourth losing session in the last five.

 

The Dow Jones Industrial Average ended the week down 0.75%, closing for its fourth week down in five. The S&P 500 lost 0.14%, while the Nasdaq Composite added 0.4% and closed above 16,000 for the first time.

 

Federal Reserve policymakers are publicly debating whether to withdraw support for the U.S. economy more quickly to deal with surging inflation.

 

State-level employment data for October showed the unemployment rate fell in 28 states and held steady elsewhere, according to the Bureau of Labor Statistics.

 

As Fed contemplates a move, Democratic states lag furthest in jobs recovery.

 

The Kansas City Fed's services index, the first regional services reading for the month, fell to 14 in November from 18 in October. Other services readings will be released in the coming weeks ahead of the ISM's national reading on Dec. 3.

 

Payrolls rose in 25 states, with California and Texas posting the largest increases in absolute terms and Louisiana seeing the largest percentage gain. California logged the highest unemployment rate in the nation at 7.3%, alongside Nevada.

 

Gold prices fell on Friday as the dollar rose to a 16-month high even as bond prices rose, pushing down yields. Bond yields were lower, bullish for gold since it offers no interest.

 

Silver had the largest one-week net and percentage decline since the week ending Sept. 17, 2021

 

Copper futures rose Friday, but finished the week down slightly, as investors braced for further wobbles in global economic growth.

 

US stocks and Oil fell Friday as the prospect of renewed lockdowns in Europe, rising Covid-19 case counts in the US ahead of the holiday travel season and persistent supply problems added to pandemic fatigue.

 

The Dow Jones Industrial Average fell 268.97 points, or 0.75%, to 35,601.98; the S&P 500 lost 6.58 points, or 0.14%, at 4,697.96; and the Nasdaq Composite added 63.73 points, or 0.4%, to 16,057.44.

 

For the week, the DJIA dropped 498.33 points, or 1.4%, to close at 35,601.98. The S&P 500 was up 15.11 points, or 0.3%, to 4697.96. The Nasdaq rose 196.48 points, or 1.2%, to close at 16,057.44.

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The “Build Back Bigger Debt, Social Control, Government Power, and More Money for Politicians” bill was passed through the House today and now heads to the Senate. Although it will likely not receive the votes needed from the Senate without some changes, it gives us a picture of what will eventually pass and what the Democrats’ intentions are for our country.

 

Over the past several months, a rapidly growing number of Americans have left their jobs – more than 4.4 million alone in September. This is a dream come true for the Left. There’s a lot more work to do and it is work they need done before the November elections. Simply put, they need to get more people depending upon the government...(READ/WATCH MORE)

Kyle Rittenhouse, 18, was found not guilty on all five charges brought against him. The jury was composed of five men and seven women who deliberated for about 25 hours over 4 days before returning with a not guilty verdict earlier today.

 

Rittenhouse was on trial for killing two men, Joseph Rosenbaum and Anthony Huber, and shooting a third, Gaige Grosskreutz, in Kenosha, Wisconsin, among other charges. The events happened almost 15 months ago during intense riots and protests on August 25, 2020, stemming from a police shooting with the officer being white and the man who was shot being black.

 

Due to the nature of the events surrounding the Rittenhouse trial, the story became about more than just Rittenhouse defending himself…(READ MORE) 

An email released by Chinese state media purporting to be from missing tennis star Peng Shuai only raised concerns about her disappearance following her sexual assault accusations against a former Chinese vice premier.

 

As FISM has previously reported, on Nov. 2, Peng posted on Weibo, a popular Chinese social media platform, that Zhang Gaoli, a former member of the Chinese Communist Party’s Politburo Standing Committee, sexually assaulted her. The post was removed less than 30 minutes later, and no one has seen or heard from Peng since. On Sunday, the Women’s Tennis Association (WTA) chairman Steve Simon said that he had received assurances of Peng’s safety from the Chinese Tennis Association, but those claims…(READ MORE)

President Biden wants the Federal Trade Commission (FTC) to launch a probe into whether oil companies are illegally increasing profits as he faces mounting pressure to provide relief to Americans fed up with rising costs at the pump. 

 

In a Nov. 17 letter to FTC Chair Lina Khan, Biden suggests that U.S. oil companies are engaging in price gouging, pointing to an “unexplained large gap” between the cost of unfinished gasoline and consumer prices. 

 

“The bottom line is this: gasoline prices at the pump remain high, even though oil and gas companies’ costs are declining,” he writes. 

The letter marks the latest attempt by the president to hit back at widespread criticism that his administration is not doing enough.…(READ MORE)

The Occupational Safety and Health Administration (OSHA) announced it is pausing the Biden administration’s COVID-19 vaccine mandate for businesses with over 100 employees following a motion to stay the mandate by the U.S. 5th Circuit Court of Appeals. 

 

“On November 12, 2021, the U.S. Court of Appeals for the Fifth Circuit granted a motion to stay OSHA’s COVID-19 Vaccination and Testing Emergency Temporary Standard, published on November 5, 2021 (86 Fed. Reg. 61402) (‘ETS’),” OSHA wrote on Wednesday, adding, “The court ordered that OSHA ‘take no steps to implement or enforce’ the ETS ‘until further court order.’ While OSHA remains confident in its authority to protect workers in emergencies, OSHA has suspended activities related to the implementation and enforcement of the ETS pending future developments…(READ MORE)

General John Hyten, in an interview with CBS News yesterday, revealed startling new information about China’s hypersonic missile test. 

 

On July 27, China sent test sent a missile around the world at a speed five times the speed of sound, revealing just how far their weaponry had advanced in recent years. Hyten, Vice Chairman of the Joint Chiefs of Staff and the no. 2 ranking military official in the US armed forces, described the capabilities of the missile in the interview:

 

 

When Hyten was asked if the missile had hit the target, he replied, “Close enough.”

 

This increased technology by the Chinese military would be concerning on its own, but it is even more alarming due to the fact that it comes in tandem with…(READ MORE)

Homeland Security Secretary Alejandro Mayorkas was grilled by Republican senators over the administration’s treatment of migrant children and it’s vaccine policy for border patrol agents during a Senate Judiciary Committee Hearing on Tuesday.

 

Texas Senator Ted Cruz pressed Mayorkas on the total number of children in “Biden cages” at the border, referring to the overcrowded holding facilities in Texas. Mayorkas didn’t provide a number but rather disputed the term “cage,” which Cruz was using in reference to a Democratic talking point throughout the Trump administration that border patrol was separating kids from their parents and putting them in “cages.”

 

CRUZ: Fine, you can disagree with it. How many children have been in the Biden cages? I’ve been to the Biden cages. I’ve seen the Biden cages. How many children…(READ MORE)

The House of Representatives has passed the sweeping Build Back Better Act pushed by President Biden and progressive Democrats, a day after the Congressional Budget Office (CBO) released their report saying that the bill will add about $367 billion “over the 2022-2031 period.”

 

According to the spreadsheet released by the CBO, the total amount in direct spending that the bill will incur over its lifetime – assuming the bill is implemented by the 2022 start date – is estimated to total $1.635 trillion. The CBO expects the bill to generate $1.268 trillion in the same time period, which results in the net deficit of $367 billion.

 

Broken down, the sector which will see the biggest increase in spending is…(READ MORE)

The reaction from the United States was quick and outspoken in the wake of Russia destroying one of its own satellites by firing a missile into space.

 

U.S. Space Command confirmed that on Monday Russia fired an anti-satellite missile, known as a direct-ascent anti-satellite or DA-ASAT missile, that destroyed a satellite and created a mass of at least 1,500 pieces of space debris.

 

“Russia has demonstrated a deliberate disregard for the security, safety, stability, and long-term sustainability of the space domain…(READ MORE)

Republicans have gained a significant lead in the voting favor of the American people ahead of next year’s midterm elections, according to most recent polling data. In an ABC News/Washington Post poll released on Sunday, the statistics showed that Republicans have garnered more than a 10-point lead in overall party preference among likely voters. the poll also reveals that President Joe Biden’s approval rating continues to seek new lows. 

 

Many experts believe that Republicans could take back both houses of Congress, if current trends continue. ABC’s poll shows that Republicans hold the largest lead ahead of midterms that has been seen in the last four decades, reminding Democrats of just how far they would have to go to hold on to their current majority in both houses. 

 

While it’s not unusual for Congress to change majorities in the middle of a presidential cycle, Biden’s public relations issues are not helping…(READ MORE)

Researchers recently announced that cancer death rates have fallen 27% over a fifty-year period, thanks to a better awareness of increased risk factors, preventative screenings, and more effective treatments.

 

The study analyzed data from 1971 to 2019, which is the most recent available year. Researchers focused on the fifteen most common cancer varieties, such as colon, breast, stomach, and lung. They discovered a staggering drop in cancer deaths during this period. Their analysis was published Thursday through JAMA Oncology.

 

“In 1971, a diagnosis of cancer was a death sentence. Not anymore,” said study co-author Ahmedin Jemal, who is also the senior vice president for surveillance and health equity science at…(READ MORE)

White House officials have launched a damage-control campaign on behalf of Kamala Harris on the heels of a scathing CNN report claiming the Vice President’s “entrenched dysfunction and lack of focus” has left the Biden administration exasperated. The critical exposé, representing a stark departure from the typically far-left-leaning news outlet, sent shockwaves through the nation’s capital and beyond, forcing West Wing staffers to rush to the embattled VP’s aid.

 

“For anyone who needs to hear it. @VP is not only a vital partner to @POTUS but a bold leader who has taken on key, important challenges facing the country — from voting rights to addressing root causes of migration to expanding broadband,” White House press secretary Jen Psaki tweeted late…(READ MORE)

This weekend, following weeks of standoff and rhetorical jousting over the thousands of migrants gathered along the Belarus-Poland border, a new sign emerged that a breaking point has been reached. 

 

According to a report by Reuters, on Sunday about 50 migrants broke through Poland’s border defenses near the Polish village of Starzyna. This came one day after Polish officials announced 223 separate attempts had been made by migrants to force entry into the nation, and followed days of border standoffs. 

 

Polish Prime Minister Mateusz Morawiecki has threatened to trigger NATO Article 4, an official request for…(READ MORE)

A Freedom Of Information Act request submitted by Elizabeth Brehm, on behalf of the Informed Consent Action Network (ICAN), revealed that the CDC has no documentation of COVID-recovered individuals spreading the virus to another individual.

 

The FOIA requested that the CDC provide “documents reflecting any documented case of an individual who (1) never received a COVID-19 vaccine; (2) was infected with COVID-19 once, recovered, and then later became infected again; and (3) transmitted SARS-CoV-2 to another person when reinfected.” As stated in a letter from a the Office of the Chief Operating Officer for the CDC, the Office did not have any information to address the request:

 

 

Despite this lack of data, the CDC has continued to deny the benefits of natural immunity and encourage forced vaccination for those who were…(READ MORE)

The federal government announced the largest dollar increase in Medicare premiums ever, set to begin in 2022. Medicare’s Part B monthly premium will rise by $21.60 going from $148.50 in 2021 to $170.10 in 2022.

 

Medicare Part B covers physician services, outpatient hospital services, certain home health services, medical equipment, and certain other medical and health services not covered by Medicare Part A, including medications given in doctors’ offices. The 14.5% increase is one of the highest ever while the dollar amount makes it higher than any other year-over-year increase in Medicare history.

 

According to CBS, in August of this year, the Medicare trustee’s report indicated that a moderate $10 premium increase was coming for 2022. But the announcement on Friday, blew this number out of…(READ MORE)

A Friday court ruling upheld a decision to block President Joe Biden’s order that businesses with more than 100 employees would be required to mandate vaccinations or weekly COVID-19 testing for their workers.

 

The 5th U.S. Circuit Court of Appeals in New Orleans called the vaccination mandate “fatally flawed” in a 22-page ruling that denied the Biden administration’s appeal to overturn the court’s temporary stay. The ruling also prohibits the Occupational Safety and Health Administration (OSHA) from enforcing the mandate until the court can properly hear a motion for a permanent…(READ MORE)

A total of 22 states are now suing the Biden administration over its sweeping COVID-19 vaccine mandate, specifically the part that requires health care workers in facilities including hospitals to take the shot or risk termination.

 

After 10 states led by Missouri filed a joint lawsuit against the Biden administration last week challenging the health care vaccine mandate, a coalition of 12 more states led by Louisiana filed a similar suit.

 

Both suits list the Centers for Medicare & Medicaid Services (CMS) and its administrator Chiquita Brooks-LaSure, as well as the Department of Health and Human Services and its Secretary Xavier Becerra as defendants.

 

The Missouri-led lawsuit also adds additional defendants including…(READ HERE)

 

SEE ALSO: Florida to impose further restrictions on COVID mandates

Parents within the Scottsdale Unified School District are calling for the resignation of a school board president whom they say kept secret “dossiers” on them.

 

According to a reporter from the Scottsdale Independent who broke the story, a Google drive containing personal information and background checks on 47 parents was uncovered when SUSD Governing Board President Jann-Michael Greenburg inadvertently shared a link to the drive in an email he sent to another parent. Information found on the drive include: images of parents’ children and homes, court records relating to property transfers and divorce decrees, personal financial documents, professional certifications, and mortgage...(READ MORE)

 

Whistleblower reports show counter-terrorism measures by FBI against outspoken parents and Sen. Josh Hawley introduces “Parent’s Bill of Rights” to defend the role of parents in education

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