July 22, 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 gained 611.03 points, or 2%, to close at 31,899.29. The S&P rose 98.47 points, or 2.5%, ending at 3,961.63. The Nasdaq added 381.69 points, or 3.3%, closing at 11,834.11.

New U.S. home-building activity fell to a nine-month low in June and permits for new construction projects slipped as well, the latest indication of a cooling housing market as surging mortgage rates reduce affordability.


The number of Americans enrolling for unemployment benefits rose for a third straight week last week to the highest in eight months and a closely watched gauge of factory activity slumped this month, the newest indications the U.S. economy is slowing under the weight of rising interest rates and high inflation.


When GDP for the April through June period is released next week it may be negative again, and by one common rule of thumb two quarters of negative GDP growth would mean the U.S. is already in a recession.


U.S. stocks closed with sharp gains on Tuesday as more companies joined big banks in reporting earnings that beat forecasts, offering respite to investors worried about higher inflation and a tightening Fed denting the corporate bottom line.


In this earnings season, analysts expect aggregate year-on-year S&P 500 profit to grow 5.8%, down from the 6.8% estimate at the start of the quarter, according to Refinitiv data.


Manufacturing activity in the Mid-Atlantic region unexpectedly fell in July and dropped deeper into negative territory, according to data released Thursday


U.S. equity funds witnessed their biggest weekly outflow in five weeks in the week to July 20, as cautious investors gear up ahead of the Federal Reserve's policy meeting next week.


A steep rise in mortgage rates is prompting most potential home buyers to favor renting over buying a starter home even as rents hit a record high in June, according to Realtor.com.


Friday Recap: Wall Street Slips after Six-Week High

U.S. stock indexes fell on Friday after dismal quarterly revenue from Twitter and Snap triggered declines in social media and ad tech firms, countering gains in American Express following an upbeat forecast.


The S&P 500 and the Dow were set to end the week with their biggest gains in nearly a month, with growth stocks doing most of the heavy lifting after markets cheered quarterly reports from Tesla Inc and Netflix Inc.


Investors are focusing on the Federal Reserve's meeting and second-quarter U.S. gross domestic product data next week. While the U.S. central bank is expected to raise interest rates by 75 basis points to curb runaway inflation, the GDP data is likely to be negative again.


A survey on Friday showed that U.S. business activity contracted for the first time in nearly two years in July, deepening concerns about an economy stunted by high inflation, rising interest rates and dwindling consumer confidence.


Companies reporting earnings in coming weeks are likely to mention one common factor gouging their results: the strong dollar.


Gold bounced toward its first weekly gain in six weeks on Friday as a pullback in U.S. Treasury yields and the dollar's overall decline bolstered it as a safe-haven appeal as economic risks persisted. The rebound was helped by a retreat in U.S. 10-year Treasury yields.


Spot silver fell 0.1% at $18.82 per ounce while platinum rose 1.4% to $883.81. Palladium rose 5.6% to $1,999.19 after rising nearly 7% earlier in the session.


The Dow Jones Industrial Average lost 137.61 points, or 0.43%, to 31,899.29, the S&P 500 fell 37.32 points, or 0.93%, at 3,961.63, and the Nasdaq Composite dropped 225.50 points, or 1.87%, to 11,834.11.


For the week, the DJIA gained 611.03 points, or 2%, to close at 31,899.29. The S&P rose 98.47 points, or 2.5%, ending at 3,961.63. The Nasdaq added 381.69 points, or 3.3%, closing at 11,834.11.

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Senators Urge Colleagues to Reauthorize International Religious Freedom Commission

The lists of nations and terrorist organizations can be found here.


Willie R. Tubbs, FISM News

On Thursday, a bipartisan group of six senators officially requested that the United States agree to maintain the federal commission charged with monitoring matters of international religious freedom.


While it is unlikely to face much in the way of resistance in either chamber of Congress or the White House, the effort of Senators Marco Rubio (R-Fla.), Bob Menendez (D-N.J.), Jim Risch (R-Idaho), Dick Durbin (D-Ill.), James Lankford (R-Okla.), and Chris Coons (D-Del.) is nonetheless both important and necessary.


The United States Commission on International Religious Freedom, a bipartisan commission created by the International Religious Freedom Act of 1998, would cease to exist on Sept. 30…(READ MORE)

Supreme Court Bans Biden Lax Immigration Order, Ruling Trump-Era Policy Will Stand

The policy in question was instituted in Sept 2021 by DHS Secretary Alejandro Mayorkas through a directive to border patrol agents.


Chris Lange, FISM News

The Supreme Court declined yesterday to allow the Biden administration to use limited targeting when apprehending and deporting illegal immigrants while court litigation continues. The ruling signals another victory against lax border patrol policies instituted by President Joe Biden.


Yesterday, the Supreme Court justices voted 5-to-4 to allow a lower judge’s order to stand that bans the Department of Homeland Security (DHS) from only enforcing deportation for some illegal immigrants while ignoring others, including some with pre-existing criminal records.


The decision forces the DHS to abide by Trump-era immigration laws which called for the deportation of the vast majority of illegal…(READ MORE)

Abortion Laws by State in the Post Roe V Wade Era

Most other states have some predetermined period of time during pregnancy at which abortion becomes illegal.


Matt Bush, FISM News

On June 24, the Supreme Court ruled that abortion is not protected under the constitution in a ruling that gave each individual state the power to regulate the procedure as it sees fit. While it could take months to fully realize the ramifications of the ruling, there is an increased relevance to understand where each state stands now.


According to an article in The Guardian, 12 states have banned/severely restricted abortion, 2 states have had bans blocked with a legal injunction, 5 states are on pace to ban or restrict abortions soon, 11 have abortions “threatened” on some level, and in 20 states abortion is still legal. The above article has a map showing each state’s status, and a similar CNN article highlighting states in the midst of a legal battle…(READ MORE)

House Democrats Hope to Force Doomed Gun Control Bill to Senate

Proof of how little faith Democrats have in their bill becoming law can be found in the fact that it both bans and legalizes a particular firearm.


Willie R. Tubbs, FISM News

House Democrats are talking tough on gun control despite fierce opposition from Republicans in the lower chamber of Congress, but their effort to create a highly restrictive federal gun-control law is unlikely to produce anything more than noise.


A group of liberals have proposed a bill that if passed would result in a full ban on assault-style weapons and open gun manufacturers to legal liabilities when their weapons are used…(READ MORE)

RNC to Help Immigrants Become U.S. Citizens

Since January of 2021, an estimated 9.2 million permanent residents of the United States have not been permitted to vote because they had not yet been naturalized.


Curt Flewelling, FISM News

The Republican National Committee (RNC) has embarked on an effort to help immigrants who want to become U.S. Citizens. The Republican Civics Initiative (RCI) is a ten-hour training program designed to help would-be citizens prepare for questions that they could see on the civics portion of their naturalization test.


The training materials used in the sessions are adapted from curricula provided by U.S. Citizenship and Immigration Services and will be taught by RNC staff who are certified instructors. 


While the move by the RNC is humanitarian in nature, it also has the potential to have large-scale political ramifications…(READ MORE)

New GOP Bill Seeks to Provide Child Support Payments from Conception

This legislation, if passed, will take one more practical step to empower women as they go through pregnancy and care for their child.

Michael Cardinal, FISM News

Pro-life legislators introduced a bill last week that seeks to provide more resources to mothers during pregnancy, in an effort to give further resources and support to those who choose to keep their unborn child.


U.S. Senators Marco Rubio (R-FL) and Kevin Cramer (R-ND) introduced the bill in the Senate, and U.S. Representative Mike Johnson (R-LA) introduced a companion bill in the House. to give mothers the ability to receive child support payments while they are pregnant.


The Unborn Child Support Act would amend the Social Security Act to extend mandatory child support to include the time of pregnancy, allowing mothers to receive payments from absentee fathers…(READ MORE)

Army struggles with recruitment, nearly 10k short this year

The Army is facing our most challenging recruiting environment since the inception of the all-volunteer force.

Samuel Case, FISM News

The Army is facing recruitment shortages, with an official telling Congress the service will be roughly 10,000 soldiers short this year, while predicting the problem will be even worse in the future.


“We’ve got unprecedented challenges with both a post-COVID-19 environment and labor market, but also competition with private companies that have changed their incentives over time,” said Army vice chief of staff, Gen. Joseph Martin, at a House Armed Services subcommittee hearing on Tuesday.


Martin said the Army believes it will have a full force of 466,400 for this year, which is almost 10,000 short from the anticipated…(READ MORE)

New Survey Links Menstrual Changes and COVID-19 Vaccines

COVID-19 vaccine trials did not collect information regarding menstrual cycles or possible effects on fertility...

Lauren Dempsey, FISM News

MS in Biomedicine and Law, RN

Since the rollout of COVID-19 vaccines, thousands of women have reported changes to their menstrual cycles. Changes include irregular periods, hemorrhagic bleeding, clots, delayed or absent periods, pre-menopausal symptoms, and periods lasting for weeks at a time. The medical community has been quick to deny a correlation to the vaccines, writing these changes off as coincidental.


 Researchers Katharine Lee and Kathryn Clancy had similar experiences post-vaccination, leading them to conduct an official survey after hundreds of women shared their experiences on a Twitter thread. The study authors acknowledge that vaccine trials “do not typically monitor for major adverse events for more than seven days” and identify this as an area where manufacturers have a limited knowledge on the potential for adverse events or side effects. The study aims to understand what “plausible biological mechanisms” are at play that may cause a disruption…(READ MORE)

Stanton, Kershaw Make Emotional All-Star Memories

Long known for his dominant pitching, Kershaw derives his strength from his Christian faith.

Rob Maadi, FISM News

Giancarlo Stanton would go to Dodger Stadium and watch baseball games from seats in the left-field stands as a young kid growing up in the Los Angeles area.


On Tuesday night in the All-Star Game, he started in left field and slammed a two-run homer into the left-field pavilion to lead the American League to a 3-2 victory over the National League. The win also marked the ninth victory in a row for the American League which has dominated the Midsummer Classic in recent memory, winning 21 of the last 25 contests.


Stanton walked away with the Most Valuable Player Award following a homecoming…(READ HERE)

Rates of Autism Increase 52% with 1 in 30 Children Diagnose

In one study that included 5 different countries and 2 million participants, it was estimated that genetic factors contribute to up to 80%…

Lauren Dempsey, FISM News

MS in Biomedicine and Law, RN

Researchers at Guandong Pharmaceutical University in China have released their findings following the National Health Interview Survey (NHIS) study conducted by the CDC annually. According to this new research published in JAMA Pediatrics, the United States has seen a 52% increase in autism spectrum disorder (ASD) in children and adolescents during a three-year period.


According to the National Institute of Mental Health, ASD is a neurological and developmental disorder that affects how people interact with others, communicate, learn, and behave – with symptoms typically presenting within the first two years…(READ MORE)


SEE ALSO: Depression May Not Be Caused by a Chemical Imbalance According to New Study

Merriam-Webster Caves to Transgender Ideology

It should be noted that Dictionary.com currently maintains the traditional definitions of both “male” and “female.”


Samuel Case, FISM News

The left’s radical gender ideology has scored another victim, this time being the dictionary itself, with Merriam-Webster expanding the definition of “male” and “female” to include gender identity. 


While the primary definition of the words remains the same – a technical definition of reproductive capabilities – the secondary definition now reads “having a gender identity that is the opposite of male” for “female” and vice versa for “male.” 


The secondary definition links out to the definition of “gender identity,” which Merriam-Webster defines as “a person’s internal sense of being male, female, some combination of…(READ MORE)

Biden Flouts Science, Blames Oil for Giving Him Skin Cancer

Biden was trying to emphasize the necessity of the climate change executive orders he was announcing..


Willie R. Tubbs, FISM News

Perhaps President Joe Biden is better for American jobs than Republicans think. Doing damage control for the president’s gaffes by now has to be functioning as a cottage industry.


In the latest, though likely not last, instance of Biden either having a lack of clarity moment or purposefully lying to make a point, the president told the audience gathered near a power plant in Somerset, Massachusetts, that he had cancer. Had it been true, the revelation would have been both newsworthy as he claimed the cancer was caused by exposure to oil. The statement also would place White House medical personnel under fire for withholding information, were the announcement…(READ MORE)

Gas Prices Fall as Biden Claws for Credit

…it’s unlikely he’s interested in claiming credit for the inflation that has crippled U.S. demand and put the world’s markets on edge.

Willie R. Tubbs, FISM News

After months of climbing, the price of gas in the U.S. has begun to creep down, a slight reprieve at the pump from which the Biden administration hopes to gain some political capital.


Numerous factors have contributed to a decline in the average nationwide cost of gas, which AAA estimated was $4.521 per gallon on July 18. That’s an encouraging development given the mid-June record average of more than $5, but a far cry from what constituted normal just a few years ago.


This has not stopped the Biden administration from claiming credit for the lower prices due to actions such as tapping the nation’s strategic oil reserves…(READ MORE)

SEE ALSO:  Poor poll numbers continue to plague President Biden’s administration

Judge Will Hear Wrongful Death Case on Behalf of Aborted Child

Other wrongful death cases involving an unborn child are usually connected to accidents or the death of the mother without directly recognizing the child…

Lauren Moye, FISM News

A superior court judge has ruled that the father of a child who was aborted in 2018 can make his argument that the baby was wrongfully killed according to Arizona law.


The lawsuit could be the first U.S. case to recognize a fetus’ legal rights following the Supreme Court’s reversal of Roe v. Wade.


In 2018, a Marine named Mario Villegas and his wife were in the process of pursuing a divorce when the woman discovered she was pregnant. The pregnancy was later terminated in a process that Villegas alleges was rushed and violated...(READ MORE)


SEE ALSO: Free Speech Win: Flight Attendant Wins $5 Million Over Firing For Pro-Life Views

Conservative Senators Blast Biden Following Their Visit to US Border

…a mounting death toll, an epidemic of human smuggling and sex trafficking, the wanton distribution of drugs, and, most galling, the rape of women and young girls by human smugglers.


Willie R. Tubbs, FISM News

Republican senators are accusing the Biden administration of ignoring what they say has grown from a bad situation into pure chaos on the southern U.S. border.


Late last week, a group of seven senators, led by Texans Ted Cruz and John Cornyn, toured the Rio Grande Valley near McAllen, Texas, and came away with stories of death, human trafficking, drug smuggling, and sexual assault.


While in the region, the senators watched as law enforcement agents apprehended numerous groups of migrants, some including individuals as young as 7 years…(READ MORE)

Ukraine War Update: Turkey announces deal on resuming grain exports, Donetsk school attack kills 3

…the deal outlines obligations to Turkey and the United Nations while Russia signs a “mirror agreement” with the same entities.


Ian Patrick, FISM News

The Turkish government announced on Thursday that it has brokered a deal between Russia and Ukraine to allow for the reopening of Black Sea ports which will allow grain exports to resume. The deal will reportedly be signed later today.


Full details of the accord were not released, but Russian state news agency TASS cited a source as saying that three Ukrainian ports would be opened. This includes Odesa, the biggest export hub for the nation.


Other diplomats stated that the plan would include grain-carrying ships being guided through the mined ports and Turkey inspecting vessels…(READ MORE)

Pro-Abortion Domestic Terrorists Attack Multiple Pre-Born Pregnancy Centers

Steiner reiterated the ministry’s commitment to saving babies from abortion, as well as introducing the gospel of Jesus Christ to mothers and fathers.

Seth Udinski, FISM News

In recent months — especially in the fallout of the historic Supreme Court reversal of Roe V. Wade — pro-abortion domestic terrorists have attacked numerous pregnancy centers, including three locations operated by Pre-Born, a nationwide leader in the fight for life.


Last week, Pre-Born released a statement alleging that three of their crisis pregnancy locations in the United States fell victim to attacks from the notorious terrorist group Jane’s Revenge. The attacks occurred at Pre-Born centers in Miami, Buffalo, and…(READ MORE)


SEE ALSO: Elizabeth Warren continues crusade against pro-life pregnancy centers

Poll: Nearly Half of U.S. Small Business Owners Fear Shutting Down Due to Inflation

In fact, 63% of small business owners now say that inflation has hurt their businesses far more than COVID did.

Chris Lange, FISM News

American small business owners are feeling the effects of the nation’s 40-year-high inflation rate.


A new Alignable Small Business Revenue poll shows that 47% of small business owners fear they will be forced to shutter their companies as inflation shows no signs of slowing down. The number marks a 12% increase from last year and is “much higher than expected,” according to the report.


Alignable cites a myriad of “cumulative hurdles” small business owners have been grappling with for over a year as the main reason behind…(READ MORE)

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Biden tests positive for COVID, has mild symptoms, taking Paxlovid treatment. Joe Biden, the oldest person ever to serve as president of the United States, has tested positive for COVID-19, is experiencing mild symptoms, and will continue working but in isolation, the White House said on Thursday.

Khamenei adviser says Tehran ‘capable of building nuclear bomb’ -Al Jazeera. Tehran is technically capable of making a nuclear bomb but has yet to decide whether to build one, a senior adviser to Iran’s Supreme Leader Ali Khamenei told Al Jazeera’s Arabic service on Sunday.

China demands U.S. cancel potential arms sale to Taiwan. China has demanded that the United States immediately cancel its latest arms sale to Taiwan, the Chinese state broadcaster reported on Monday, citing the country’s Ministry of National Defence.

Ethiopian runners win marathon world championships in record times. Ethiopian Gotytom Gebreslase survived a two-way battle with Kenyan Judith Korir to win the women’s marathon title with a world championship-record time on Monday.

Jury selection begins Bannon’s contempt of Congress trial. Jury selection began on Monday in the criminal trial of Steve Bannon, a prominent former aide to President Donald Trump, for defying a subpoena from a congressional panel investigating last year’s protest at the U.S. Capitol.

U.S. places Russia on human trafficking, child soldier lists. The United States on Tuesday placed Russia on lists of countries engaged in a “policy or pattern” of human trafficking and forced labor or whose security forces or government-backed armed groups recruit or use child soldiers.

As pressure mounts, Biden acts to deter wrongful detentions of Americans abroad. President Joe Biden signed an executive order on Tuesday aimed at deterring and punishing wrongful detention of U.S. citizens abroad by authorizing government agencies to impose sanctions and other measures.

U.S. House passes bill to codify same-sex marriage. The U.S. House of Representatives on Tuesday passed a bill protecting gay marriage rights, after the Supreme Court’s decision to overturn Roe v. Wade had Democrats fearing similar precedents that protected rights to same-sex relations and contraception were in jeopardy.

Four indicted in smuggling incident that killed 53 migrants in Texas. A U.S. grand jury on Wednesday indicted four men including the suspected driver in connection with the death of 53 migrants amid the sweltering heat during a smuggling attempt last month in Texas, federal prosecutors said on Wednesday.

UN report highlights hundreds of rights violations in Afghanistan. The United Nations mission in Afghanistan (UNAMA) said on Wednesday that the ruling Taliban were responsible for extrajudicial killings, torture, arbitrary arrests, and inhumane punishments in the 10 months since they seized power.

Israel’s Supreme Court rules terrorists can be stripped of citizenship. Israel’s Supreme Court ruled on Thursday that the state can revoke the citizenship of people who carry out actions that constitute a breach of trust against the state, including terrorism, espionage, or treason.

Dozens of Central American officials added to U.S. corruption blacklist. The U.S. State Department on Wednesday added dozens of current and former officials, lawmakers, judges, and businessmen from Central America to a list that names those the U.S. government considers “corrupt and undemocratic” actors in the region.

Former Minneapolis police officer jailed for 2-1/2 years in George Floyd case. A former Minneapolis officer was sentenced to 2-1/2 years in prison on federal charges stemming from his role in the killing of George Floyd, a black man whose death sparked protests around the world against racial injustice, a court spokesperson said.


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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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