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"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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For the week, the DJIA gained 603.71 points, or 1.8%, to close at 33,978.08. The S&P added 97.95 points, or 2.5%, ending at 4070.56. The Nasdaq added 481.28 points, or 4.3%, closing at 11,621.71.
Wall Street ended a choppy session higher on Thursday as investors grappled with an onslaught of economic data and a string of mixed corporate earnings, all while eyeing the clock as it ticks down toward next week's Federal Reserve monetary policy meeting.
The U.S. economy grew faster than expected in the fourth quarter, but that likely exaggerates the nation's health as a measure of domestic demand rose at its slowest pace in 2-1/2 years, reflecting the impact of higher borrowing costs.
Initial jobless claims decreased by 6,000 to 186,000 in the week ended Jan. 21, the lowest level since April, trimming the four-week moving average by 9,250 to 197,500, a seventh straight decrease. Layoffs in the tech sector occurred too late in the week to have an impact on claims, so a rebound is possible in next week's data.
The amount of money sloshing around the U.S. economy shrank last year for the first time on record, a development that some economists believe bolsters the case for U.S. inflation pressures continuing to abate.
New orders for U.S.-made capital goods fell in December, while shipments declined for a second straight month, suggesting that higher borrowing costs were now pressuring manufacturing.
Durable goods new orders rose by 5.6% in December, while shipments advanced by 0.5%. Excluding transportation, new orders and shipments were both down 0.1% in December, a sign of underlying weakness.
New-home sales rose to a 616,000 annual rate in December from a downwardly revised 602,000 sales rate in November, still nearly 27% below the pace in the December 2021.
U.S. consumer spending posts second straight monthly decline; inflation cooling which could impact the Fed’s upcoming decision.
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Friday Recap: Wall Street Ends Higher in view of Fed Meeting
Wall Street crept higher on Friday after data showing easing inflation spurred hopes of a policy downshift from the Federal Reserve, while credit card giant American Express jumped nearly 10% on an upbeat forecast.
Intel Corp (INTC) was set to erase nearly $10 billion in market value on Friday after the U.S. chipmaker stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market.
The U.S. Federal Reserve on Friday rejected crypto-focused Custodia Bank's application to become a member of the Federal Reserve System.
Oil prices rose for a second session, buoyed by better than expected U.S. economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. U.S. crude fell 1% to $79.45 per barrel and Brent was at $86.77, down 0.8% on the day.
Gold was basically flat at $1,927.83 per ounce. U.S. gold futures remained unchanged, with gold looking to rise 0.2% for the week.
Silver dropped 1.5% to $23.55 per ounce, platinum was down 0.6% to $1,015.50, while palladium dipped 3.17% to $1,618.00.
The Dow Jones Industrial Average gained 28.67 points, or 0.08%, to close at 33,978.08; the S&P 500 added 10.13 points, or 0.25%, ending at 4,070.56; the Nasdaq Composite rose 109.30 points, or 0.95%, closing at 11,621.71.
For the week, the DJIA gained 603.71 points, or 1.8%, to close at 33,978.08. The S&P added 97.95 points, or 2.5%, ending at 4070.56. The Nasdaq added 481.28 points, or 4.3%, closing at 11,621.71.
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Retreat Scholarship - If you would like to bless an active-duty military member or first responder by paying there way to the FISM retreat, we are now accepting scholarship applications and funds. The cost of a single scholarship is $600 and the cost for a couple is $880. You can donate any amount to the scholarship fund on the donation page HERE. Please make a note that your donation is for the Military/First Responder Scholarship. All scholarship donations are fully tax deductible. To nominate a beneficiary, please email Pat O’Toole at [email protected]. | |
Watch Financial Issues Live
with Shana Burt hosting our daily radio program
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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.
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ANNOUNCING "Tips For The News" | |
Tips for the News - FISM News is excited to announce that it now has a tip-line where you can submit ideas of stories that you think others should know about. The news team is always looking for news-worthy content that may fly under the radar or doesn't follow the agenda of mainstream outlets. Since the news so often focuses on the problems of the world, the team is also hoping that the tip-line can lead to suggestions that will help inform others of positive stories of faith and faithfulness in the church and Christian organizations. If you have any news-worthy content that you want to suggest to the news team, you can submit it at https://fism.tv/tips/ | | | |
Weekly Social Media Highlights | |
Help us reach a broader audience by engaging with our social media posts. Every time you like, comment or share our content, you help us spread the word about biblical stewardship and multiply the impact of our Ministry. Tap the icon below to share now! | |
National Archives Wants Last 6 Administrations to Check for Presidential Documents | | |
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CNN reported that representatives of both Bush administrations as well as those for Clinton and Obama have stated they do not possess any presidential records.
Willie R. Tubbs, FISM News
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Thursday, the National Archives and Record Administration (NARA) requested that representatives of every president dating to Ronald Reagan ensure that no administration has “inadvertently” violated the Presidential Records Act (PRA).
As first reported by CNN, NARA sent letters to representatives of six former presidents.
“The responsibility to comply with the PRA does not diminish after the end of an administration,” the letter reads.
Therefore, we request that you conduct an assessment of any materials held outside of NARA that relate to the Administration for which you serve as a designated representative…(READ MORE)
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Biden Pulls No Punches in Denouncing ‘MAGA Republicans’ n Fiery Speech | |
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The president, who is said to be laying the groundwork to launch a 2024 reelection bid, also touted his record on the economy...
Chris Lange, FISM News
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President Joe Biden railed against “MAGA Republicans” Thursday for refusing to approve a debt ceiling increase unless Democrats agree to cut future government spending.
Speaking to a crowd of union steamfitters in Springfield, Virginia in his first economic speech of 2023, the president said Trump-supporting Republicans are intent on being the party of “chaos and catastrophe,” resurrecting his folksy mantra that “This ain’t your father’s Republican Party. This is a different breed of cat, as they say.”
Biden argued that Republican proposals would lead to higher inflation and sought to drive home Democrats’ claims that the GOP wants to cut…(READ MORE)
SEE ALSO: As Scandals Mount, Biden Fast Losing Allies
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Pfizer Exec Reveals Experimental COVID Mutation to Project Veritas, Republicans Call for Investigation | | |
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In a more telling part of the conversation, Walker admits that COVID mutations helped prolong Pfizer’s “cash cow” by providing vaccines.
Lauren C. Moye, FISM News
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Republicans are calling for an investigation into Pfizer after a Project Veritas expose showed a company executive claim that the company is using “directed evolution” to force COVID-19 mutations so the company can “preemptively develop new vaccines.”
The Project Veritas video released on Wednesday showed Jordan Trishton Walker, the Pfizer Director of Research and Development, talking in a restaurant setting. In a bombshell moment, Walker said that the company is exploring COVID mutations by putting the virus in monkeys to accelerate the transmission and mutation process of the virus in a research study similar to the controversial gain-of-function gene research.
While legacy media has largely ignored the concerning report, Sens. Marco Rubio (R-Fla.) and Ron Johnson (R-Wis.) have responded by launching investigations…(READ MORE)
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US Found to be ‘Most Permissive Country’ Regarding Child Gender Transitions: Report | |
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It is worth noting that the Do No Harm study focuses mainly on these sorts of treatments for young children, and less so for adolescents.
Ian Patrick, FISM News
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The aggressive push to indoctrinate children with the ideas of gender as a social construct has resulted in the United States being one of the most “permissive” countries in the world when it comes to transgender medical care.
According to “Reassigned,” a report published on January 16, the gender ideology push has driven “the United States to provide transgender medical care to younger children, while Europe goes a safer and more scientific route.”
The study came from Do No Harm, a self-described group of different medical experts who aim to “protect healthcare from a radical, divisive, and discriminatory…(READ MORE)
SEE ALSO: NY bill would allow unstable male inmates to transfer to women’s prison
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Ukraine Update: Russian Diplomat Vows ‘Harsh Retaliatory Action’ for US, German Promised Tank Deliveries to Ukraine | | |
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Russian diplomat Konstantin Gavrilov echoed the red-line threat Thursday during a meeting of the Organization for Security and Cooperation in Europe.
Chris Lange, FISM News
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National Security Council spokesman John Kirby on Wednesday downplayed the possibility that Russia would view the provision of high-tech combat tanks to Ukraine by the U.S. and Germany as a dangerous escalation in the war, insisting that they “pose no offensive threat to Russia.”
Kirby made the remarks during a White House briefing hours after Washington and Berlin announced that they would supply Kyiv with 31 Abrams and 14 Leopard 2 tanks, respectively.
During the briefing, a reporter pointed out that a Russian propagandist reacted to the news by calling for the “annihilation” of Washington and asked whether the Kremlin…(READ MORE)
SEE ALSO: CSIS Warns Ukraine Support Leading US Military Into ‘Ammunition Crisis’
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Think Tank Calls Immigration App ‘Premeditated Deceit’ by Border Patrol | |
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Bensman commented on the “shifting migration pattern” and what he believes to be propaganda that “would impress Harry Houdini.”
Vicky Arias, FISM News
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According to an official at the Center for Immigration Studies, the Biden administration’s use of a border patrol phone app, called CBP One, is more about appearances than actual border security.
Todd Bensman, Senior National Security Fellow for the Center for Immigration Studies, recently explained that the CBP One app will be used to distort the truth about the actual number of migrants coming into the United States.
The CBP One app is a smartphone application that has been used in the past to set up advanced appointments for travelers needing inspection of perishable goods upon entry into the U.S. and …(READ MORE)
SEE ALSO: Texas Republicans Demand Biden Reimburse State Border Expenses
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Lawyer: School Ignored Three Warnings That 6-Year-Old Shooter Had Gun | | |
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According to Toscano, the administrator dismissed the teacher’s suspicions, saying that the boy had “little pockets.”
Vicky Arias, FISM News
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School officials ignored warnings that the six-year-old boy who shot his teacher earlier this month may have been armed, an attorney for the teacher said Wednesday.
On Jan. 6, Abigail Zwerner, an elementary teacher at Richneck Elementary School in Newport News, Virginia, was shot in her classroom by one of her six-year-old students. Upon hearing the shot, a female employee of the school ran into the classroom and restrained the child, who allegedly shot Zwerner in the chest as she was…(READ MORE)
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M&M’s Pulls ‘Spokescandies’ After ‘Inclusive’ Rebranding Backlash | |
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The move is in response to backlash the company received over its 2022 initiative of “creating a world where everyone feels they belong.”
Ian Patrick, FISM News
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Anyone who is a fan of the M&M’s so-called “spokescandies” may be in for a rough year, as the Mars company recently announced it will be pulling the colorful cast of characters over backlash regarding recent changes.
In a statement posted to its Twitter account, M&M’s notified the world that it will not be using the various candy icons for an “indefinite” amount of time.
“America, let’s talk,” the statement begins. “In the last year, we’ve made some changes to our beloved spokescandies. We weren’t sure if anyone would even notice. And we definitely didn’t think it would break…(READ MORE)
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McCarthy Makes Good on Promise to Boot Schiff, Swalwell from Intel Committee | | |
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Democrats immediately went into histrionics over an announcement that should have shocked no one...
Willie R. Tubbs, FISM News
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Tuesday, Speaker of the House Kevin McCarthy (R-Calif.) formally rejected a request from House Minority Leader Hakeem Jeffries (D-N.Y.) to allow a pair of Democrats to remain on a prominent committee.
In a letter to Jeffries, one McCarthy shared on Twitter, the speaker restated his long-held position that Reps. Adam Schiff and Eric Swalwell, both of California, were not fit to serve on the House Intelligence Committee.
“In order to maintain a standard worthy of this committee’s responsibilities, I am hereby rejecting the appointments [of Schiff and Swalwell]” McCarthy wrote. “It is my assessment that the misuse of this panel in the 116th and 117th Congresses severely undermined its primary national security and oversight…(READ MORE)
SEE ALSO: Pompeo says Schiff leaked classified info as chair of Intel Committee
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Study Shows Multiple COVID Booster Shots Weaken the Immune System | |
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In the study, the researchers confirmed that multiple booster shots “overturned the protective immune memories” and suggested that these findings...
Lauren Dempsey, FISM News
MS in Biomedicine and Law, RN
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A new study has found that mice that received two or more COVID-19 booster shots had severely weakened immune systems.
The study was conducted by Chinese researchers at China’s Chongqing Medical University with the goal of understanding the long-term impact of frequent vaccination.
While vaccination continues to be the Centers for Disease Control and Prevention’s (CDC) leading recommendation for preventing infection as well as severe illness, this new study found that when mice were given extended immunizations, it had a significant negative…(READ HERE)
SEE ALSO: Study shows non-COVID excess deaths have spiked since 2020
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‘Doomsday Clock’ Inches Closer to Emergency Midnight Level in Wake of War | | |
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It is good for Christians to keep a level head, while also realizing the signs of the times.
Seth Udinski, FISM News
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Yesterday, the Associated Press issued a report exploring how scientists are extremely concerned that the world is moving closer to an event that could wipe out human existence, with the popular metric known as the “Doomsday Clock.”
According to Reuters,
“The Doomsday Clock is a symbolic timepiece showing how close the world is to ending. Midnight marks the theoretical point of annihilation. Apocalyptic threats could arise from political tensions, weapons, technology, climate change or pandemic illness. The hands of the clock are moved closer to or further away from midnight based on the scientists’ reading of existential threats…(READ MORE)
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House Opens Amendment Process, Sees More Than 140 Proposed Amendments | |
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The rule change was negotiated as part of a deal between McCarthy and Conservative hardliners to secure his bid for the speakership.
Samuel Case, FISM News
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House Republicans opened up the amendment process for the first time in nearly seven years on Thursday, opening debate for 143 proposed changes to a bill related to the Strategic Petroleum Reserve (SPR).
Known as the Strategic Production Response Act, the bill aims to limit President Joe Biden’s ability to tap the SPR, while forcing the federal government to develop a plan for increasing oil and gas production on government-owned lands.
President Biden frequently tapped into the SPR in 2022 in an effort to curb soaring energy prices, brought on by the administration’s climate agenda, the war in Ukraine, as well as…(READ MORE)
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The Price at the Gas Pump is Going Up and Here’s Why | | |
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Since its inauguration, the Biden administration has implemented policies that have taxed the American oil industry and revoked the nation’s energy independence status.
Katie Kerekes, FISM News
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The national average for a gallon of gas has risen to $3.50, 20 cents more since just last week, according to the latest report from AAA.
It seems wherever you look, fingers are pointing to a different cause for the high prices. Whether it’s global warming, China, the war in Ukraine, or policies coming out of Washington, D.C., everyone seems to have someone or something to blame.
‘RISING TEMPERATURES’?
AAA attributes the recent spike in fuel cost to a combination of increased consumer demand and higher oil prices, as milder winter temperatures may encourage…(READ MORE)
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Financial Issues Stewardship Ministries, PO Box 270, Exton, PA 19341
www.financialissues.org / www.fism.tv
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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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Confidentiality:This message is intended only for the use of the individual or entity to which it is addressed, and may contain information that is confidential in nature. Any distribution, copying or disclosure of this material by any individual or entity other than the intended recipient is strictly prohibited. If you have received this message in error, please notify Financial Issues Stewardship Ministries immediately and delete this message.
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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