May 14, 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
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Financial Issues Stewardship Ministries, or "FISM," PO Box 270, Exton, PA 19341
Market Recap

For the week, the Dow was down 395 points or 1.1% ending at 34,382.13, the Nasdaq lost 322.26 or 2.3% to close at 13,429.978, and the S&P 500 fell 1.4% to closing at 4,173.85.

A group of cyber-criminals allegedly responsible for the ransomware attack that shut the largest fuel pipeline in the United States on Monday, said it only wanted to make money, not disrupt society. The six-day Colonial Pipeline shutdown was the most disruptive cyberattack on record, which underscored the vulnerability of vital U.S. infrastructure to cybercriminals.

A day before Michigan's deadline to close down a key crude oil pipeline, Canada, on Tuesday, said the move could undermine relations with the United States, its closest ally and trading partner.

Canada is defying an order by Michigan Governor Gretchen Whitmer (D) to shut down its Line 5 pipeline, keeping the 540,000 barrel per day conduit operating normally, the Detroit Free Press reported on Wednesday.

Iraq has formally asked to buy U.S. energy giant ExxonMobil’s share in one of Iraq's biggest oilfields.
U.S. job growth unexpectedly slowed last month, likely restrained by shortages of workers and raw materials. Non-farm payrolls increased by only 266,000 jobs, well below the nearly 1 million jobs economists expected and a sharp contrast to steady increases in growth from January to March.
Chicago Fed President Charles Evans said on Monday that while enhanced unemployment benefits may slow hiring by giving workers more time to hunt for their next job, he felt that childcare, school closures and other issues are likely playing a greater role.
U.S. consumer prices increased by the most in nearly 12 years in April as booming demand amid a reopening economy pushed against supply constraints, which could add fuel to financial market fears of a lengthy period of higher inflation.
The increase in U.S. consumer prices has put investors on high alert for more signs of inflationary pressure that could tilt the Federal Reserve toward raising interest rates.
Economists polled by Reuters had forecast the CPI would climb 0.2%. In the 12 months through April, the CPI shot up 4.2%. That was the largest gain since September 2008 and followed a 2.6% increase in March.
The U.S. Federal Reserve has asked lenders to start providing information on the measures they are taking to mitigate climate change-related risks to their balance sheets. This is part of Biden’s agenda to incorporate climate risk into the financial regulatory system.
Stocks on Wall Street fell Wednesday, building on the previous session's losses, as investors worried that surging inflation could force the Fed to raise interest rates sooner than expected.
Small business optimism increased in April on sales growth but owners were still struggling to find qualified employees, according to the monthly survey by the National Federation of Independent Business (NFIB) released Tuesday.
The NFIB Small Business Optimism Index climbed to 99.8 from 98.2 in March, according to the NFIB. The index, however, missed the Econoday consensus of 100.8.
Initial jobless claims fell to their lowest level since the COVID-19 lockdowns of last year, although filings under the pandemic assistance program increased. Claims fell to 473,000 for the week ended May 8, down 34,000 from the prior week, which was revised up by 9,000 to 507,000.
Producer prices increased more than expected in April, leading to the biggest annual gain since 2010, other data showed on Thursday. A 0.6% increase in the cost of services followed a 4.2% jump in March; this accounted for about two-thirds of the rise in the PPI.
A bigger-than-expected increase in U.S. consumer prices has put investors on high alert for more signs of inflationary pressure that could tilt the Federal Reserve toward raising interest rates.


Friday Recap:

Wall Street advanced in a broad rally at the conclusion of a whipsaw week of buying and selling as signs of economic revival clashed with mounting inflation jitters. All 11 major S&P sectors were higher, with energy leading gains as oil prices gained ground.
The CBOE volatility index, a measure of investors' anxiety, slipped to 19.55 after spiking to a more than two-month high earlier this week.

Despite a stronger-than-expected US inflation reading this week, and the expectation of strong retail sales and industrial production readings Friday morning, markets appear to have embraced the Fed’s declarations that it is not ready to discuss any monetary policy changes just yet.
U.S. retail sales unexpectedly stalled in April as the boost from stimulus checks faded. The Commerce Department said on Friday the unchanged reading in retail sales last month followed a 10.7% surge in March. Economists polled by Reuters had forecast retail sales would rise 1.0%.

Excluding automobiles, gasoline, building materials and food services, retail sales dropped 1.5% last month after an upwardly revised 7.6% increase in March.
US industrial production rose by 0.7% in April, compared with expectations for a larger 0.9% increase in a survey compiled by Bloomberg, and following an upwardly revised 2.4% increase in March.
U.S. import prices increased solidly in April, the latest sign of inflation ramping up as the economy reopens. Import prices rose 0.7% last month after surging 1.4% in March.

Treasury prices have fallen this week alongside stocks, sending yields higher, on rising worries about inflation. In the bond market, the yield on 10-year Treasury notes recently hovered at 1.625%, from 1.576% last week.
Oil prices rose on Friday, reversing some of the previous day's sharp losses as stock markets strengthened and the U.S. dollar slipped, though gains were capped by the coronavirus situation in major oil consumer India.
Demand for oil and gas is rebounding and U.S. oil prices have reached levels not seen since early 2019, around $65 per barrel, buoying fossil fuel producers.
The $65 billion U.S. chicken industry is struggling to recruit the workers needed to meet demand for wings and breast meat. Labor shortages are driving Tyson and rival Pilgrim's Pride Corp. to invest in automated meat-cutting.  
U.S. corn futures fell for a third straight session on Friday, with the benchmark July contract hitting a two-week low on fund-driven long liquidation amid easing concerns about dwindling supplies, analysts said, while soybean and wheat futures were slightly higher.
The dollar fell, making gold more affordable at US$1,838.10 per ounce. The ICE dollar index was last seen down 0.37 to 90.49 points.
Brent-crude futures, the benchmark in energy markets, rose for the third consecutive week to $68.71. Copper futures in New York, which hit a record Tuesday, slipped 0.9% to $4.66.

Federal Taxes, Spending and Deficit All Set Records Through April. Federal tax revenues hit a record $2,143,134,000,000 for the period while federal spending climbed to $4,074,970,000,000, resulting in a federal deficit of $1,931,836,000,000.
The Dow Jones Industrial Average rose 360.68 points, or 1.06%, to 34,382.13, the S&P 500 gained 61.35 points, or 1.49%, to 4,173.85 and the Nasdaq Composite added 304.99 points, or 2.32%, to 13,429.98.
For the week, the Dow was down 395 points or 1.1% ending at 34,382.13, the Nasdaq lost 322.26 or 2.3% to close at 13,429.978, and the S&P 500 fell 1.4% closing at 4,173.85.

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Liberty Counsel’s Mathew Staver on H.R. 1, the ‘Massive Election Fraud Bill’
The founder and chairman of Liberty Counsel, Mathew Staver, went on Financial Issues to tell Dan Celia why this bill would be detrimental.

Dan Celia, President & CEO of FISM Inc.
While states such as Georgia and Florida have been passing their own election security measures, Democrats in Congress have been busy drawing up similar legislations. One of these bills, known as H.R. 1, was introduced in the House and supposedly aims to advance voting integrity, security, and access.
While it does expand access to online, mail-in, and in-person voting as as well as promote transparency in the voting process, it also includes multiple other measures that would change the voting atmosphere drastically. For instance, it wants to reduce the age for registering to vote to at least 16 years of age…(WATCH VIDEO)
Rasmussen Poll: Americans Believe Border Situation is a Crisis
…among those who say there is a crisis at the border, 69% say the situation is Biden’s fault.

Samuel Case, FISM News
Despite White House Press Secretary Jen Psaki’s belief that the situation at the border isn’t an issue the majority of Americans are “focused on,” a new Rasmussen poll shows that the majority of Americans consider the situation a crisis.
The survey of 1,000 likely U.S. voters found that 66% believe the current situation of influx of migrants at the border is in fact a crisis. 20% say it’s not a crisis, and 13% are not sure.
Broken down by political affiliation, the vast majority of Republicans (85%) say it’s a crisis. Democrats are largely split with…(READ MORE)
States Respond to Poor April Jobs Report by Ceasing Federal Unemployment Benefits
Gov. Mike Parson (R) of Missouri and Gov. Bill Lee (R) of Tennessee have joined the states of Alabama, Arkansas, Mississippi, Montana, and South Carolina in withdrawing...

Michael Cardinal, FISM News
Missouri and Tennessee became the most recent states to announce a halt to their participation in the pandemic-related federal unemployment benefits. Both governors cited that the unemployment benefits are deterring people from reentering the workforce and hindering their state’s economies from growing.
The U.S. Bureau of Labor April job report, which was released on Friday, gave hard data to support this concern. To call the report lackluster is gracious, as employers only added 266,000 jobs in the month of April. This is only a quarter of the 1 million jobs analysts projected would be added over the month.
This lack of job placement, however, is not due to a lack of available jobs, with a record 8.1 million job openings reported. Employers throughout the country have lamented the fact that they are unable…(READ MORE)
Texas Judge Blocks NRA Bankruptcy Filing as NY Lawsuit Loom
The lawsuit’s ultimate goal is to dissolve the NRA for these fraud and abuse allegations.

Ian Patrick, FISM News
A federal judge in Dallas, Texas blocked a bankruptcy filing from the National Rifle Association (NRA) which sought protection to reorganize in the second amendment friendly state. With this attempt to reorganize dismissed, the NRA is now vulnerable to a lawsuit against them filed by the New York State Attorney General.
U.S. Bankruptcy Judge Harlin Hale, who issued the decision, wrote “The question the Court is faced with is whether the existential threat facing the NRA is the type of threat that the Bankruptcy Code is meant to protect against. The Court believes it is not.” He further added that the NRA did not file for bankruptcy in good faith but were “seeking the protection of the Bankruptcy Code to preserve itself as a going concern in the face of litigation …(READ MORE)
Fauci Says Masking May Become a Seasonal Practice, Says “We Can Approach Normal” by Next Mothers Day
“So it is conceivable that as we go on a year or two or more from now that during certain seasonal periods...”

Samuel Case, FISM News
Sunday, during an interview on NBC’s “Meet the Press,” National Institutes of Allergy and Infectious Diseases Director Dr. Anthony Fauci told host Chuck Todd that it’s “quite possible” mask-wearing will become a seasonal practice among Americans for some time.
“I think people have gotten used to the fact that wearing masks, clearly if you look at the data it diminishes respiratory diseases, we’ve had practically a non-existent flu season this year merely because people were doing the kinds of public health things that were directed predominantly against COVID-19,” Fauci said…(READ MORE)
Lutheran Church Elects First Trans Bishop In American Protestant History
The normalizing of LGBTQ church leaders is sadly not a new phenomenon in the 21st century American church. 

Seth Udinski, FISM News
The American Lutheran church has become the most recent Christian denomination to succumb to the demands of the sexual revolution. On Saturday, the Evangelical Lutheran Church in America commissioned Megan Rohrer as the first transgender bishop in the history of American Protestantism. Rohrer is hailed as a hero in the Evangelical Lutheran Church. Based on this action, the Evangelical Lutheran Church is in no way “evangelical” and would be an abomination to the man credited with founding the Lutheran denomination, the 16th century reformer Martin Luther.
Rohrer, a biological female, was elected to serve in the Sierra Pacific Synod in the San Francisco region, encompassing roughly 180 congregations. She has served as “pastor” of Grace Lutheran Church in the Sierra Pacific Synod …(READ MORE)
Republicans Oust Liz Cheney as House GOP Chair, Trump Endorses Elise Stefanik
Representative Liz Cheney (R-WY) has been removed from her position as the Number 3 Republican in the House, behind Minority Leader Kevin McCarthy and Whip Steve Scalise. House Republicans conducted a voice vote which decided Cheney’s fate.
The GOP has been divided over Cheney ever since she denied the allegations from President Trump that the election was stolen from him and voted to impeach him after the January 6th riot. Since then, Cheney has publicly voiced her dislike of the former President’s rhetoric, and would often speak against his actions.
Most GOP members in the House, including McCarthy and Scalise, believed that she should no longer hold her position as House Conference Chairwoman for her adamant distaste of the former president. Some GOP House members, such as…(READ MORE)
A Moment in History: John Wycliffe
He was faithful to the authority of Scripture, saying that Scripture is the final authority on all life and matters, including the actions of the Church.

Seth Udinski, FISM News
Let’s travel back to nearly seven centuries to explore a hero of the Christian faith. This man was a medieval forerunner to the Protestant Reformation, a man who devoted his life to making the Bible readable to commoners. He was the English theologian and scholar, John Wycliffe.…(WATCH HERE)
Connecticut Vaccinates More Than 70% of Adults
The CDC data also shows that as of Sunday more than 259 million doses have been administered in the United States...

Samuel Case, FISM News
The state of Connecticut has made major strides on the vaccine front; becoming the first state to have more than 70% of its adult population receive at least one dose of COVID-19 vaccine.
Friday, Connecticut Governor Ned Lamont celebrated the news on Twitter saying that his state is two months ahead of President Joe Biden’s goal of having 70% of adults in the U.S. receive one shot by July 4th. …(READ MORE)
White House Condemns Gaza Attack, Seeks “Two State Solution,” Trump Responds
Through his new communications platform Trump gave a clear message that the U.S. should always stand with Israel.

Ian Patrick, FISM News
Hostilities between Israel and Hamas terrorists in Gaza continue to escalate as rockets and air strikes rain down in the Holy Land. As reported by FISM News earlier, tensions built as Israeli police and Palestinians clashed at al-Aqsa Mosque which set off a chain reaction of attacks, first from Hamas and then from Jerusalem.
Israeli Prime Minister Benjamin Netanyahu said he would step up the strength and frequency of strikes on Gaza, an enclave of 2 million people, in response to the rocket attacks. The White House condemned the attacks from Gaza, and defended Israel by saying they were in the right to strike back, while pushing for diplomatic resolution.
National Security Advisor Jake Sullivan spoke with Israeli National Security Advisor Meir Ben-Shabbat to express the Biden administration’s “commitment to Israel’s security and to supporting peace and stability throughout the Middle East.” In a press briefing on Tuesday, White House Press Secretary Jen Psaki confirmed these commitments and stated that President Biden has tasked his administration with…(READ MORE)
Evidence Emerges Accusing CIA Director William Burns of Fraternizing with Communist China
Mr. Burns’ testimony is also belied by the fact that in 2016 he welcomed Zhang Yichen to the Carnegie Endowment’s Board of Trustees.

Seth Udinski, FISM News

Some disturbing news came out of Washington this past week involving President Joe Biden’s CIA Director William Burns. The National Pulse revealed Monday that Director Burns has fraternized with the Communist Chinese Party as recently as the year 2021, despite his assurance that he had terminated his affiliations with the CCP.
The Committee on the Present Danger in China (CPDC), a pro-America national security organization, is calling for Burns’ resignation following these troubling allegations. The CPDC laid out the specifics of why Director Burns, who formerly served as President of the Carnegie Endowment for International Peace, is unqualified to serve in such a high rank in America’s intelligence…(READ MORE)
Gas Prices Tick Up, Fuel Hoarding Ensues
Georgia Governor Brian Kemp signed an executive order suspending the state’s gas tax in an attempt to slow the rush to the pump.

Samuel Case, FISM News
Gas prices steadily rise in the United States, resulting in Americans panic buying a hoarding gasoline. Wednesday the national average price ticked up to just over $3 making for the highest gas prices since 2014 according to the American Automobile Association.
On Monday AAA wrote, “On the week, the national gas price average jumped six cents to $2.96. If the trend continues, an increase of three more cents would make the national average the most expensive since November 2014 –the last time we saw average prices at $2.99 and higher.”
As of Wednesday, May 12, AAA reports the national average at $3.008. For reference last month the average was at $2.863 and a year ago was $1.854. By state the highest price is…(READ MORE)
Open Letter from Former Military Members Says America “Is in Deep Peril”
Aside from the election, the Current Administration has launched a full-blown assault on our Constitutional rights in a dictatorial manner...

Ian Patrick, FISM News

An open letter from former members of the U.S. military released on May 10 is warning American citizens that the nation “is in deep peril.” The letter, signed by 124 retired military members of various ranks, says the U.S. is “in a fight for our survival as a Constitutional Republic like no other time since our founding in 1776.”
The letter is penned by a group known as Flag Officer 4 America, who identify themselves as retired admirals and generals “pledged to support and defend the Constitution of the United States against all enemies, foreign and domestic.”
The letter explains that the current fight in America is…(READ MORE)
CDC Says Vaccinated Individuals Can Remove Masks Indoors
Following the announcement President Joe Biden released a tweet saying: “The rule is now simple: get vaccinated or wear a mask until you do.”

Samuel Case, FISM News
On Thursday, the CDC updated its guidelines to advise that those who have been fully vaccinated can ditch they’re masks in most settings.
CDC director Rochelle Walensky said, “Anyone who is fully vaccinated can participate in indoor and outdoor activities, large or small, without wearing a mask or physical distancing.” Masks are still recommended for crowded indoor settings such as buses, planes, hospitals, prisons and homeless shelters.
“Today, CDC is updating our guidance for fully vaccinated people. Anyone who is fully vaccinated can participate in indoor and outdoor activities, large or small, without wearing a mask or physical distancing. If you are fully vaccinated, you can start doing the things that you had stopped doing because of the pandemic. We have all longed for this moment, when we can get back to some sense of normalcy. Based on the continuing downward trajectory of cases…(READ MORE)
ECB President Christine Lagarde Claims Climate Change Is Impacting Price Stability
Lagarde represents the inevitable shift from the leftist media and political giants..

Seth Udinski, FISM News

Several weeks ago, FISM News covered the intriguing case of Project Veritas’ exposure of CNN’s news bias. Project Veritas revealed that CNN will soon switch gears away from the COVID-19 pandemic and will push climate change as the world’s next “big problem.” The liberal caucus appears to be proving CNN’s agenda correct.
On Friday, European Central Bank President Christine Lagarde claimed that “climate change” has already begun to affect price stability and monetary policy. Lagarde said during the ECB’s virtual state of the union address…(READ MORE)
Governor DeSantis Signs New Florida Election Bill
“We’re making sure we’re enforcing voter ID…We’re also banning ballot harvesting. We’re not gonna let political operatives...

Ian Patrick, FISM News
As the recently passed election laws in Georgia continue to receive flak and be misconstrued, Florida Governor Ron DeSantis signed similar election security legislation for his state in an attempt to make Florida elections more secure, orderly, and transparent.
During an interview on “Fox & Friends,” DeSantis remarked that Florida has “what we think is the strongest election integrity measures in the country.”…(READ MORE)
Pastor Artur Pawlowski Arrested For Resisting COVID-19 Restrictions
A video posted on YouTube captures the moment Pastor Pawlowski and his brother, Dawid, were removed from their vehicle...

Seth Udinski, FISM News

FISM News has followed the dramatic case of Pastor Artur Pawlowski and his congregation in Alberta, Canada. The Polish-born pastor made news headlines in April when he removed health officials who were interrupting the Easter week services at his church, The Fortress of Adullam Church in Calgary.
Pawlowski, a man who experienced in his youth the first-hand evils of state interference on the freedom of religion in Soviet-ruled Poland, courageously defended his flock and his right to gather for worship despite the state-mandated restrictions. The Calgary law enforcement officials issued a warrant for Pawlowski’s arrest after the video footage of Pawlowski demanding that health officials leave the church premises.…(READ HERE)
Biden Admin Approves Large Offshore Wind Farm Near Martha’s Vineyard
“…massive windmills that have been approved by the Biden Administration and are being built, in China of course, as part of an extraordinarily large wind farm.” ~ President Trump

Ian Patrick, FISM News
The Biden administration further advanced their focus on alternative energies and the climate change agenda by approving the construction and implementation of a major wind farm off the coast of Martha’s Vineyard in Massachusetts. It is the first ever offshore wind project in the United States.
Secretary of the Interior Deb Haaland and Secretary of Commerce Gina Raimondon made the announcement on Tuesday May 11. In a press release from the Department of the Interior, Secretary Haaland said the decision “is an important step toward advancing the administration’s goals to create good-paying union jobs while combating climate change and powering our nation.” Secretary Raimondon echoed these remarks saying…(READ MORE)
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The FISM (Financial Issues Stewardship Ministries) is the home of the program Financial Issues with Dan Celia. Celia 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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