August 26, 2022

"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 dropped 1,423.34 points, or 4.2%, to close at 32,283.40. The S&P lost 170.82 points, or 4%, ending at 4,057.66. The Nasdaq fell 563.51 points, or 4.4%, closing at 12,141.71.

Inflation-weary U.S. shoppers have been skimping on clothing purchases, prompting retailers to slash prices to clear inventory off the racks.

Wall Street's main regulator on Thursday voted to adopt a measure requiring that U.S.-listed companies disclose how the pay of their top executives squares with overall company performance.

Google will clearly label medical facilities in the United States that provide abortions in its search results and in Google Maps to avoid confusing them with anti-abortion centers, its top executive informed lawmakers on Thursday.

Musk's SpaceX and T-Mobile plan to connect mobile phones to satellites, boost cell coverage.

The dollar held onto recent gains against the euro and sterling on Thursday ahead of Federal Reserve Chair Jerome Powell's widely-anticipated speech, which traders hope will offer clues on the U.S. central bank's tightening plans.

Manufacturing activity in the US Midwest declined in August while expectations for future activity "eased somewhat."

The Philadelphia Fed’s monthly nonmanufacturing activity index fell to -3.7 in August from 0.1 in the previous month, indicating contraction in the sector.

U.S. private-sector business activity contracted for a second straight month in August to its weakest in 27 months with particular softness registered in the services sector.

US jobless claims dipped slightly for the second week running and came in below Wall Street's expectations, suggesting employers are retaining workers in a tight labor market.

U.S. consumers are responding to surging prices for new cars and trucks by going deeper into debt, pushing the average new vehicle loan to a record-high $40,290 during the second quarter.

The U.S. economy contracted at a more moderate pace than initially thought in the second quarter as consumer spending blunted some of the drag from a slower pace of inventory accumulation.

The real estate market is churning again and based on the latest home sales numbers from several sources, the end of private home bidding wars may be coming.

New orders for U.S.-manufactured capital goods increased in July, but the pace slowed from the prior month, suggesting a moderate rebound in business spending this quarter. 

***

Friday Recap: Wall Street DOWN after Powell’s Hawkish Speech

Wall Street slumped on Friday to close well down, as investors keen for a more modest interest rate path were disappointed by Federal Reserve Chief Jerome Powell signaling the central bank would keep hiking rates to tame inflation.

U.S. consumer spending barely rose in July as falling gasoline prices hurt sales at service stations, but monthly inflation slowed sharply.

Energy stocks added to their Friday declines this afternoon, with the NYSE Energy Sector Index and the SPDR Energy Select Sector ETF both falling 0.7%.

Technology stocks added to their Friday freefall, with the SPDR Technology Select Sector ETF sinking 4.2% while the Philadelphia Semiconductor Index was sliding 5.6%.

Financial stocks were sharply lower late in afternoon trading, with the NYSE Financial Index sinking 2.4% and the SPDR Financial Select Sector ETF off 2.7%.

West Texas Intermediate crude oil closed higher on Friday after Federal Reserve chair Jerome Powell warned tight monetary policies and higher interest rates are likely over the long term.

Gold closed lower on Friday after Federal Reserve chair Jerome Powell spoke. Gold for December delivery closed down US$21.60 to US$1,749.80 per ounce. Silver and Platinum were also down, but Copper was up slightly.

Bond yields rose, with the US 10-year note last seen paying 3.034%, up 0.4 basis points.

The Dow Jones Industrial Average dropped 1,008.38 points, or 3.03%, to close at 32,283.40; the S&P 500 lost 141.46 points, or 3.37%, ending at 4,057.66; the Nasdaq Composite fell 497.56 points, or 3.94%, closing at 12,141.71.

For the week, the DJIA dropped 1,423.34 points, or 4.2%, to close at 32,283.40. The S&P lost 170.82 points, or 4%, ending at 4,057.66. The Nasdaq fell 563.51 points, or 4.4%, closing at 12,141.71.



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Good Guys! Doing Good

FISM TV Presents a New Christian Reality Show

Good Guys! Doing Good

Good Guys! Doing Good is a Christian reality show hosted by Tim Bisagno. In each episode, Tim sets out on a journey across the USA to find men of God serving the Lord in adventurous, exciting, and unique ways. Follow Tim as he travels, participates, laughs, cries, honors, and showcases good guys doing God's work!

Dan Celia, founder and former president of FISM, was the executive producer of Good Guys! Doing Good. Celia was the ultimate good guy, having served in the Navy and on missions trips around the world, as well as reaching millions through his radio and television ministry before being called home to be with the Lord. The program is produced and directed by Krunti Hester, in Celia’s honor.

Watch Good Guys! Doing Good for free 

at: https://fism.tv/goodguys/ or on our free FISM TV app

Facebook: https://facebook.com/goodguysshow

Instagram: https://www.instagram.com/ggdg.tv/

Hello Faithful Partners, Listeners, Viewers, and Readers!

We’ve had some difficult days since Dan left us and as the weeks have passed, I am missing him more than I can express in words. It’s strangely surreal but the Lord has been and is by my side, giving me the comfort and peace as only He can. I just wanted to thank you for your prayers, your notes of encouragement, your patience, and your support in helping me and our ministry to press on!

As I have written previously, I was recently voted by our Board of Directors to be the President/CEO and Chair of the Board of FISM. I am humbled and honored to serve willingly, in obedience, albeit inexperienced and ill equipped. I am blessed with an incredibly capable staff, and extremely faithful board members who serve alongside me – without whom I’d not be sitting here sharing this. I want you to know that Dan did love you, his partners and listeners, so much that he never tired of connecting with you whether by on-air conversations, face to face at his town hall meetings, or his very cherished moments in bible study on Friday mornings. His spirits always lifted when you encouraged him.

I’d like to invite you to share your comments and concerns, prayer requests and praises with me at yvonne@fism.tv. I will make every attempt to connect with you via email.

PLEASE do not ask me financial questions, you WILL be disappointed!

Sincerely,

Yvonne

Yvonne Celia

Chief Executive Officer, FISM

e: yvonne@fism.tv

w: www.FISM.TV

Watch Financial Issues Live

with Shana Burt as new host of our daily radio program

Financial Issues

Tune in to FISM TV weekdays, 9/8c to watch Financial Issues with our new host Shana Burt and catch her live commentary, the latest financial news, market updates, investment tips and more.

Watch Financial Issues: https://fism.tv/financial-issues

Download our free app today: http://bit.ly/FISMApp

We are now posting insightful video clips of the program, including many of Shana's responses to partners on our FISM App, as well as on our FISM TV website.

On the FISM app, if you scroll across the top to FINANCIAL ISSUES, then scroll down, you will find an option for these HELPFUL VIDEOS.

While you are there, please take the time to enjoy our FISM News to glean a conservative and biblical worldview on current events.

Could Amazon’s New ‘Palm Payment’ Be Connected to the Mark of the Beast? [Op-Ed]

Despite varying views on eschatology, many Christians believe that we may be living in the “last days,” and that believers should be ready for Christ’s imminent return.

Much of this is due to how the downward trend of our society mirrors the society that the Bible speaks of in the last days (2 Timothy 3:1-7). It is also because many believe that recent developments in technology make it possible for some of the prophecies to be realized in ways that were not possible in the past.

One condition that many Christians believe will preclude the tribulation is that there must be a global trend towards a cashless society. With that in mind, many Christians are now speculating on the connections between Amazon’s new “palm payment” and the Mark of…(READ MORE)

Poll: Slight Majority of Voters Agree FBI Has Become Biden’s ‘Personal Gestapo’

Longtime Republican adviser Roger Stone’s strongly worded criticism of the Biden administration’s use of the FBI resonated with just over half the people who participated in a recent conservative opinion poll.

Last November, during an interview with WABC Radio in New York, Stone said, “We have a group of politicized thugs​ ​at the top of the FBI who are using the FBI … as [President] Joe Biden‘s personal Gestapo​.”

At the time, the statement was received as largely hyperbolic, but the FBI raid on former President Donald Trump’s Florida home has enraged a sizable chunk of the American voter population…(READ MORE)

SEE ALSO: Trump Files Suit Calling for Review of Items Seized in Mar-A-Lago Raid

Republicans Cry Foul as Biden Appears Close to Nuclear Deal with Iran

The long and often-adversarial nuclear negotiations between the United States and Iran might be on the eve of ending, but Republicans say it’s at the expense of American and Israeli interests and security.

Wednesday, Iran confirmed that it had received the United States’ response to a European Union-created agreement that would effectively recreate or closely approximate the 2015 agreement that ended during the presidency of Donald Trump.

“We have taken a principled approach to these negotiations from the start,” Department of State Spokesperson Ned Price said in his Tuesday briefing. “We have said, since we had first started down this road…(READ MORE)

SEE ALSO: Israel: Nuclear deal would give Iran $100 billion to destabilize region

20 Million American Households Behind on Electric Bill as Prices Soar

According to the National Energy Assistance Directors Association (NEADA), 20 million households, or one in six of all American homes, have fallen behind on their utility bills.

As August comes to an end and the intense heat continues, this is a dangerous trend for many people across the nation. Past due bills have caused some to lose power in their home in the middle of dangerous summer temperatures, and millions of others fear the same fate.

“Electricity prices are expected to increase significantly this summer as a result of rapidly rising natural gas prices, a primary feeder fuel for electricity, and a warmer summer creating additional demand…(READ MORE)

Red Wave Comes to Sarasota, Miami-Dade School Districts Following DeSantis Endorsements

Florida conservatives won major victories in Tuesday’s school board elections providing another indictment on how parents feel about other adults dictating morality for their children.

Bridget Ziegler, Tim Enos, and Robin Marinelli, all backed by Florida Republican Governor Ron DeSantis won seats in Sarasota County, flipping control of the board from liberal to conservative. The conservative candidates won by at least six percentage points, according to the Herald-Tribune, despite the fact that they all were “trailing in campaign contributions.”

Ziegler said that the tally shows it was “very clear … that [the voters] did not support … the majority of the board and…(READ MORE)

SEE ALSO: Americans try to address national teacher shortage as school year starts

Noninvasive Brain Stimulation May Boost Memory in Alzheimer’s Patients, Others

A new study testing transcranial alternating current stimulation (tACS), a form of noninvasive brain stimulation, shows a month-long boost in memory in a group of elderly people.

The study brings an air of anticipation with it for further research to help those suffering from cognitive impairment, such as Alzheimer’s disease or dementia.

tACS involves a cap that is embedded with small electrodes, which emit a weak electrical current that passes from one electrode to the other and electrically stimulates the brain. The stimulation can “increase the excitability of targeted parts of the brain. Pairing it with individualized, task-specific, intense rehabilitation can lead to greater…(READ MORE)

Lawsuit Claims Unvaxxed Navy Seamen Living in ‘Deplorable’ Conditions

Unvaccinated U.S. Navy service members still awaiting religious exemption decisions on the Defense Department’s COVID-19 vaccine mandate say they have been forced to live in “deplorable” conditions as they are stuck in a state of agonized limbo with the military refusing to allow them to leave service or, allegedly, their ships in some cases.

There are currently 4,244 religious exemptions pending in the Navy, according to a class action lawsuit filed by First Liberty Institute on behalf of Navy service members who applied for religious exemptions to the mandate.

The sailors’ living conditions came to light in a June court filing in the case alleging that seamen are being forced to live on vessels with backed-up showers, toilets, and…(READ MORE)

Primary Roundup: NY Primary Results Could Spell Trouble for GOP; Crist Wins Bid to Take on DeSantis This Fall

Democrat Pat Ryan narrowly defeated Republican Marcus Molinaro in a special election to represent New York’s 19th Congressional District in a race considered to be a preview of the November midterms. Ryan positioned himself as a pro-abortion advocate, and his victory is being viewed as a referendum on the Supreme Court’s June ruling ending federal abortion rights.

Molinaro focused his campaign on familiar conservative talking points including record-high inflation and soaring crime.

“Single-party rule has led to abuses and corruption in government, it has led to reckless spending and a lack of accountability…(READ MORE)

Biden Plans to Give Taliban Access to Billions in Nation’s Frozen Assets

If President Joe Biden has his way, the penalty the Taliban will suffer for returning Afghanistan to a safe harbor for terrorists, a living nightmare for women, and a persecution center for Christians will be access to billions of dollars in unfrozen foreign assets.

According to a report from Reuters, which cited three people with direct knowledge of the situation, the Biden administration is looking to move forward on talks to release Afghanistan’s foreign assets that have been frozen since the Taliban recaptured power…(READ HERE)

SEE ALSO: Senators Question Mayorkas, Blinken on Policy Change to Allow Immigrants with Terrorist Ties

Zuckerberg Admits FBI Influenced Facebook’s Suppression of Hunter Biden Laptop Story

Meta CEO Mark Zuckerberg revealed that the FBI approached Facebook in the weeks leading up to the 2020 election, warning the platform about “Russian propaganda” ahead of the Hunter Biden laptop story. 

Zuckerberg told Spotify podcaster Joe Rogan during Thursday’s installment of “The Joe Rogan Experience” that Facebook users were “still allowed to share” the New York Post’s bombshell report that exposed questionable foreign business dealings of then-presidential candidate Joe Biden’s son. He admitted, however, that a “meaningful” percentage of them were prevented from seeing the information, which undercut Biden’s repeated claims that he knew “nothing” of his son’s shady…(READ MORE)

97% of Businesses, Execs Believe Recession Is Ongoing or Coming Soon

Inflation and the fears of recession have hit businesses hard, according to a new survey.

The survey from Stifel Financial shows that 97% of questioned business owners, executives, and investors believe that the U.S. is either in a recession or will be in one by the end of 2023. Only 3% said they believe a recession can be avoided.

Inflation also continues to plague business confidence. The survey shows that 50% of the 70 respondents are “very concerned” about the impact of inflation, while 39% are “moderately concerned.” Another 10% are “slightly concerned” and only 1% say they are “not concerned…(READ MORE)

Pentagon Denies DC Mayor’s Request for National Guard Assistance

The Pentagon has rejected a request from Washington, D.C. Mayor Muriel Bowser to deploy National Guard troops to the nation’s capital to assist with immigrants being bused from Texas and Arizona.

In a letter obtained by several news outlets, the Pentagon argued that the D.C. National Guard (DCNG) is not equipped for this type of assignment, and that deployment would affect combat readiness, writing, “The DCNG has no specific experience in or training for this kind of mission or unique skills for providing facility management, feeding, sanitation or ground…(READ MORE)

New Study Shows Implant Made of Pig Collagen Can Restore Vision

Researchers from India, Sweden, and Iran were able to restore sight in patients with keratoconus by implanting a bioengineered tissue made from pig skin.

Medical researchers used the tissue, which is made from a collagen protein found in pigs, to replace human patients’ corneas.

The study was published in Nature Biotechnology and detailed how the scientists were able to restore vision by “using an approach that is equally effective, safer, simpler, and more broadly available than donor cornea…(READ MORE)

Poll: ‘Disconnect’ Growing Between Reigning Political Parties and Voters

Over half of both millennial and Gen Z voters in America consider themselves to be independents, according to a new Gallup poll. In fact, each successive generation is retaining more independents than the generation prior, revealing a growing disconnect between America’s two reigning political parties and unaffiliated voters.

The findings show that 52% of both generations identify as independents, marking a 5% increase in this affiliation among millennials over the past two decades, while the number of Gen Z members who consider themselves to be independent voters has remained relatively...(READ MORE)

SEE ALSO: Biden holds rally, asks Republicans to shun ‘MAGA’, vote Democrat

Biden Loan ‘Forgiveness’ Move Worries Economists, Perturbs Non-Debt Holders

President Joe Biden demonstrated a rare skill for prescience when he announced his plan to forgive $10,000-$20,000 in student debt for millions of borrowers – his move would not be popular with everyone.

“I understand not everything I’m announcing is going to make everybody happy,” Biden said. “Some think it’s too much ⁠— I find it interesting how some of my Republican friends who voted for those tax cuts think we shouldn’t be helping these folks. Some think it’s too little, but I believe my plan is responsible and fair. It focuses the benefit of middle-class and working families, it helps both current and future borrowers, and it’ll fix a badly broken system.”

The president’s optimism does not seem to be rooted in anything deeper than a hope that confidently stating the system is fixed will make it…(READ MORE)

SEE ALSO: What Biden’s student loan plan means for all Americans: Interview with ‘Financial Issues’ host Shana Burt

Judge Rejects DOJ’s Argument to Keep Trump Affidavit Sealed, Calls Raid ‘Unprecedented’

The judge who signed off on the warrant for the raid on former President Trump’s Florida residence has rejected the Justice Department’s request to keep the affidavit leading to the search under seal.

Magistrate Judge Bruce Reinhart cited “intense public and historical interest” in the “unprecedented” FBI raid on Trump’s Mar-a-Lago home on Aug. 8 as the reason behind the highly anticipated ruling Monday morning, as first reported by Fox News.

In his 11-page decision, Reinhart said he rejects “the Government’s argument that the present record justifies keeping the entire Affidavit under…(READ MORE)

SEE ALSO: Trump Teases Constitutionally-Grounded Legal Action Against Justice Department

Caught: Children’s Hospital Admits to Hysterectomies for Girls under 16

Children’s National Hospital in Washington, D.C. is under fire after Libs of Tik Tok recorded a phone call in which multiple employees confirm that the hospital offers hysterectomies for minors.

Libs of Tik Tok creator Chaya Raichik posted the call to Twitter, in which she posed as a mother seeking a hysterectomy for her 16-year-old daughter. In the call, two different employees confirmed that a 16-year-old could, in fact, get the procedure…(READ MORE)

SEE ALSO: Biden doubles down on abortion, gender ideology on Women’s Equity Day [Op-Ed]

Homeland Security Permanently Disbands Abhorred Disinformation Board

In a move that was as much a mercy killing as it was a politically adept move, the Department of Homeland Security’s disinformation board has been officially scrapped.

On Wednesday, the DHS released a statement confirming that, following a three-month pause for an internal review, the Homeland Security Advisory Council had recommended the Disinformation Governance Board be disbanded. 

“In accordance with the HSAC’s prior recommendation, Secretary of Homeland Security Alejandro N. Mayorkas has terminated the Disinformation Governance Board and rescinded its charter effective today, August 24, 2022,” the statement…(READ MORE)

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Financial Issues Stewardship Ministries, PO Box 270, Exton, PA 19341

www.financialissues.org / www.fism.tv

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.