"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 Dow rose 2.65% to 34,777.76, the S&P 500 was up 1.23% to 4,232.60, and the Nasdaq slipped 1.51% to close at 13,752.24.
The United States has fully vaccinated 110,874,920 people for COVID-19 as of Friday morning, accounting for 33.4% of the population, the U.S. Centers for Disease Control and Prevention said on Friday.
West Texas Intermediate (WTI) crude oil fell for a third-straight day on Thursday as worries over weak U.S. gasoline demand and rising Covid-19 infections in India, checked optimism over a big drop in U.S. oil inventories.
Most emerging market currencies held steady on Friday ahead of a key U.S. jobs report, while robust Chinese trade data, strong commodity prices and a tepid dollar supported currencies through the week and pushed stocks to their one-week high.
Huge COVID-19 outbreaks in India, Brazil and Turkey have put developing economies at the epicentre of the pandemic, but their reluctance towards a full lockdown combined with hopes of vaccine progress globally appear to be desensitizing markets.
Better-than-expected data on the jobs front Thursday kept the wheels rolling on the rotation trade – from growth stocks to cyclical and value plays – that has been in high gear all week.
The Labor Department said on Thursday that new unemployment filings declined to 498,000 for the week ended May 1 which was significantly below analysts' consensus expectations for 538,000 filings.
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Friday Recap: S&P 500, Dow end at record highs
U.S. job growth unexpectedly slowed in April, likely restrained by shortages of workers and raw materials. Nonfarm payrolls increased by only 266,000 jobs last month. Economists had expected nearly a million jobs to be added. This gives the Fed reason to keep the monetary policy tap wide open.
Job losses remain concentrated among leisure and hospitality industry companies that were hardest hit by the pandemic, a particular concern to the Fed since that industry is a major source of jobs for lower-wage and less-skilled workers.
The U.S. economy is growing at its fastest rate since the early 1980s while household bank accounts are bulging with cash doled out by the federal government to blunt the impact of the coronavirus pandemic.
The White House is pressing for trillions of dollars more in spending on infrastructure, education, and other priorities. Republicans, however, object to the high price tag and critics have raised concerns about inflation and a disincentive, thanks to generous unemployment benefits, for people to return to the workforce.
President Biden has said his tax proposals would make big business and wealthy investors pay their fair share, but his package would also likely deliver a blow to American farm owners by limiting a longstanding tax break.
The U.S. Chamber of Commerce on Friday said the federal government should end the $300 weekly supplemental unemployment benefit in President Joe Biden's $1.9 trillion COVID-19 aid package to ease a labor shortage that limited hiring in April.
U.S. wholesale inventories rose solidly, but slightly less than initially estimated in March as sales surged amid robust demand.
Businesses and households improved their balance sheets late last year with the help of government support, but some consumers and the smallest businesses continued to struggle, according to a Fed report.
U.S. productivity rose at a 4.1% pace. Hours worked increased at a 2.9% rate last quarter, slowing from a 10.0% growth pace in the October-December period.
The S&P 500 and the Dow hit record highs on Friday, while the Nasdaq recovered along with heavily weighted growth stocks as U.S. jobs data eased concerns over prospects for rising rates.
Commodity prices jumped, the dollar slid to a two-month low and major global equity indexes scaled record peaks on Friday after jobs report.
The unexpectedly slowed job growth report alleviated some concerns about rising inflation and potentially higher U.S. interest rates, which some investors worry would hurt growth companies with high valuations.
Brent crude futures rose 19 cents to settle at $68.28 a barrel, while U.S. crude futures gained 19 cents to settle at $64.90 a barrel.
Barrons reported that used-car prices set another record, largely due to the chip shortage impacting new car production.
Global food prices rose for an eleventh consecutive month in April, lifted by tightness in sugar markets and concerns about crop conditions for corn crops. Sugar prices jumped by 3.9%; vegetable oil and meat prices rose 1.8% and 1.7%, respectively.
Gold jumped more than 1% enroute to its best week since November. Palladium fell to $2,918.82, after hitting an all-time high of $3,017.18 earlier this week. Silver rose to $27.35 per ounce, set for a 5.5% weekly gain. Platinum dipped to $1,246.99. Aluminum reached levels last seen in 2018, and iron ore futures also hit a record high.
Copper prices climbed toward record highs Friday, fueled by bets on a U.S.-led global economic rebound that would boost demand for metals used in manufacturing and construction.
The dollar extended declines, while the yield on the benchmark 10-year U.S. Treasury note dropped to a two-month low of 1.469%.
Heavily-weighted growth stocks such as Microsoft and Google all rose, but all major S&P 500 sectors also ended in green, with energy and real estate leading the advance. Energy and materials hit fresh highs earlier.
The Dow Jones Industrial Average rose 229.23 points, or 0.66%, to 34,777.76, the S&P 500 gained 30.98 points, or 0.74%, to 4,232.60 and the Nasdaq Composite added 119.40 points, or 0.88%, to 13,752.24.
For the week, the Dow rose 2.65%, the S&P500 1.23% and the Nasdaq slipped 1.51%.
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The G7 Needs to Step Up to the Plate |
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The leadership of the G7 is either too naive to analyze the true motives of these regimes or too arrogant…
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Foreign ministers from the Group of Seven Western democracies (G7) met Tuesday morning, May 4, for a summit that will probably extend into next week. I expect to see much more news about this G7 meeting. The seven largest economies in the world—Canada, France, Germany, Italy, Japan, the UK and the U.S. — have come together and are acting as self-appointed leaders of the globalist movement.
They are attempting to discuss the biggest threats from the East: Iran, China and Russia, the three countries that pose dramatic threats to the free world. What is most concerning about the next week is it’s going to be very difficult for the G7 to discuss the threat with any kind of conviction to fight against it. To be at all productive in this conversation, each party will have to…(READ MORE)
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Facebook Oversight Board Upholds Trump Suspension |
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Wednesday morning Facebook’s Oversight Board announced it will keep in place the suspension of former President Donald Trump, while keeping the door open for his return in the future.
Facebook, along with every other major social media company, kicked Trump from their platforms following the Capitol Hill riot on January 6th. Trump was permanently suspended from Twitter, which served as the 45th President’s favorite communication outlet.
Following Facebook’s suspension of Trump’s account, Facebook CEO Mark Zuckerberg released a statement saying, “the risks of allowing the President to continue to use our service during this period…(READ MORE)
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Donald Trump Teases Future Run; Launches New Communication Platform |
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In corresponding news on Tuesday, Trump also launched a communications platform…
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On Tuesday, Former President Donald Trump made headlines as he teased an announcement about his future and also announced a new digital platform that will provide a way for him to communicate directly with his followers.
On Tuesday’s Daily Wire show “Candace,” Trump made vague comments about his future when questioned by host Candace Owens. He responded, “The answer is I’m absolutely enthused. I look forward to doing an announcement at the right time.” He went on to say that his supporters would be “very happy when I make a certain announcement.” Trump commented that he would not want to announce an official 2024 run too early due to the cost of running a campaign.
While his future plans are not definite…(READ MORE)
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Vision System for Blind People Wins 2020 HealthTech Award |
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The press release states that the tech could soon be released for “market approval.”
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Technology continues to make great strides in the area of health as evidenced by a break-through product that has the potential to be lifechanging for those who have lost their vision.
Pixium Vision SA, a bioelectronics company, was awarded the HealthTech Award in 2020 for its “innovative bionic vision system” under the Best Product/Deal Category. The vision system is designed to assist people who have lost their sight, so that they may “live more independent lives.”
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Integrity of Derek Chauvin’s Trial Questioned with Juror’s Involvement in Protests |
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Most troubling was a photograph that captured Mitchell wearing a shirt with the words “GET YOUR KNEE OFF OUR NECKS” and “BLM” on it.
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The trial of the 21st century continues to dominate news headlines even after a guilty verdict. Several weeks ago, the jury in the case of ex-police officer Derek Chauvin declared Chauvin guilty of the murder of 46-year-old African-American George Floyd on May 25, 2020. Floyd’s death sparked worldwide racial riots and social unrest.
This past week, Chauvin’s legal team announced that it is protesting the outcome and demanding a re-trial. The verdict was not without controversy, and now new information is calling into question the impartiality of the jury .
Brandon Mitchell, a 31-year old black man, served as “Juror 52,” one of the twelve jurors…(READ MORE)
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Idaho Bans Critical Race Theory from Schools |
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…it is not the first state to take actions to remove the ideology from classrooms.
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Last week Idaho became the first state to ban critical race theory, a decisive shot fired against the Marxist ideology that the Biden administration has been pushing. Idaho Senators voted 28-7 to pass legislation that blocks the curriculum from being taught in schools. Republican Governor Brad Little signed the legislation shortly after.
Ellie Krasne of the Heritage Foundation defines critical race theory as “a theoretical framework, rooted in Marxism, that posits individuals as oppressed or oppressor based on their skin color.”
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Rudy Giuliani’s Apartment Raided by Federal Agents in Ongoing Probe |
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Former New York City mayor and Trump lawyer Rudy Giuliani had his apartment raided by federal agents on April 28. The raid was executed with a search warrant for all electronic devices from his apartment and office, both in Manhattan, in an escalation to an ongoing probe into Giuliani.
The probe was opened in 2019 to look into the former mayor’s dealings in Ukraine, where he spoke with Ukrainian officials and lawyers to investigate the actions of then-Democratic presidential candidate Joe Biden and his son Hunter Biden within the country. According to Reuters, the initial subpoena said the prosecution is “investigating…(READ MORE)
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Arrest Warrant Issued For Pastor Artur Pawlowski For Holding Church Services |
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Pastor Pawlowski, who lived under the Soviet communist regime in Poland in his youth, understands the wickedness of...
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In early April, Pastor Artur Pawlowski, the Polish-born pastor of The Fortress of Adullam Church in Calgary, made viral headlines when he boldly removed health officials from his church’s Holy Week services. The health officials appeared at the church and attempted to prevent the congregation from meeting, claiming they were violating lockdown measures…(READ MORE)
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Rasmussen Poll: 40% ‘Not at All Confident’ in Biden’s Ability to Stop Terrorist Threats |
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Democrats are significantly more likely to believe domestic terrorism is a greater danger than foreign threats.
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While international threats from enemy nations like North Korea are a significant problem that any president should be prepared to handle, another threat the Commander-in-Chief needs to be wary of is terrorism. Unfortunately for President Biden, most Americans don’t believe he is capable of handling a terrorist threat.
A new Rasmussen poll surveyed 1,000 likely U.S. voters and found that 40% are “not at all confident” Biden can face a terrorist threat, with 12% saying they are “not very confident.” Still 30% of likely voters say they are “very confident” in Biden’s abilities, while 16% say they are “somewhat confident.” Only 3% were unsure. The poll found Republicans are more likely to think that the threat of terrorism has increased since Biden…(READ MORE)
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Atlanta Reinstates Officer Who Fatally Shot Rashard Brooks |
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For the time being, Rolfe will be assigned to administrative leave while he awaits trial for murder and aggravated assault in the case.
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Police officer Garrett Rolfe was reinstated as an Atlanta police officer after an oversight board ruled that he was not afforded due process prior to being fired in June for fatally shooting Rashard Brooks.
On June 12, 2020 police responded to an Atlanta-area Wendy’s due to reports of an intoxicated man (Rashard Brooks) who was passed out in a vehicle in the fast-food drive-through. Body-cam footage from Rolfe’s partner, Devin Brosnan, shows Brooks and Rolfe conversing relatively calmly for several minutes, until Brooks was being placed under arrest for a resisting a sobriety test. Brooks then wrestled with the police officers, obtained Brosnan’s taser, and fired it at the officers…(READ MORE)
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U.S. Providing Six Air Shipments to Help India With COVID Crisis |
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Psaki also said the CDC is cooperating with Indian health experts in a variety of areas.
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As the number of active COVID-19 cases in India continues to rise (on May 4th, the country registered 382,691 new cases alone), the U.S. is keeping to its promise to help India by sending aid. During a press briefing, White House Press Secretary Jen Psaki said the U.S. is accomplishing this promise through six “aid shipments.”
In cooperation with the United States Agency for International Development (USAID), who is funding the supply shipments, the U.S. is distributing useful supplies to the Indian Red Cross for the Indian government to use, including “oxygen and oxygen supplies, N95 masks, rapid diagnostic tests, and medicine.”
She said, “More flights are on the way, with total assistance expected to exceed $100 million.” Within the supplies are…(READ MORE)
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Vogue Magazine Suggests Having Children Is Detrimental To Environment |
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Without being direct, Frizzell speaks of the apparent “danger” of bringing a child into the world during the current “environmental crisis.”
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Last week, fashion and culture magazine Vogue ran an article titled “Is Having A Baby In 2021 Pure Environmental Vandalism?” The article skirts around the subject and never clearly affirms the thesis, but the magazine’s mere proposal of such an outlandish idea suggests that it does believe pro-creating is a negative force on environmental consciousness.
The author, Nell Frizzell, attempts to tackle the question with a classic non-answer halfway through the article…(READ MORE)
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North Korea: The U.S. ‘Will Find Itself in a Very Grave Situation’ |
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…the president said in his congressional speech the U.S. would confront Iran and North Korea’s nuclear ambitions with “diplomacy and stern deterrence.”
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On Sunday, North Korea rattled it’s sabre at the United States, saying Washington’s latest statements show President Biden’s “intent to keep enforcing the hostile policy” against them and warned that the U.S. “will find itself in a very grave situation.”
An unidentified North Korean Foreign Ministry spokesman said America is “girding itself up for an all-out showdown” after saying Kim Jun Un oversees human rights abuses. “We have already made it clear that we will counter in the strongest terms whoever encroaches upon the dignity of our supreme leadership, which is more valuable than our lives.”
The spokesman’s comments were made in response to…(READ MORE)
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Federal Judge Rules CDC Had No ‘Legal Authority’ to Order National Eviction Ban |
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In response, the Department of Justice filed an appeal to keep the ban in place until its June 30 deadline...
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Months after the CDC issued a ban on evictions from residences and had it extended multiple times, a federal judge ruled that the center had no “legal authority” to perform such an action in the current pandemic.
The CDC issued their initial order for a ban on evictions in September of 2020, when the ban would be in place until December 31, to curb any unnecessary spreading of COVID-19. Congress then extended the order until January 31, 2021 and then the CDC extended the ban through another order until March 31 of the same year. Because this extension was based on their perception of conditions worsening, the CDC then ordered another extension this time until June 30, 2021.
The case, known as Alabama Association of Realtors v. United States Department of Health and Human Services, was brought before the U.S. District Court for the District of Columbia with…(READ MORE)
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Derek Chauvin’s Lawyer Asks for Re-Trial |
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The filing also didn’t reference juror Brandon Mitchell, who last summer attended a march in D.C.
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The lawyer for ex-Minneapolis police Derek Chauvin is requesting a new trial for his client, citing a laundry list of misconduct in the courtroom. Last month the 12-member jury found Chauvin guilty of second and third degree murder, as well as manslaughter in the death of George Floyd.
On Tuesday, attorney Eric Nelson filed the motion in the Hennepin County court. Nelson argued for a new trial “on the following grounds: the interests of justice; abuse of discretion that deprived the defendant of a fair trial; prosecutorial and jury misconduct; errors of law at trial; and a verdict that is contrary to law.”
He proceeded to give 10 points as to why a re-trial is in order, including failure to sequester…(READ MORE)
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San Francisco Archbishop Condemns Catholic Politicians Who Support Abortion |
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To publicly affirm the Catholic faith while at the same time publicly rejecting one of its most fundamental teachings is simply dishonest…
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The war for the protection of the unborn continues to rage in the United States, as the Roman Catholic Church in California holds fast to the dignity of human life. This past week, the Archdiocese of San Francisco boldly challenged Roman Catholic politicians who encourage abortion. Archbishop Salvatore Cordileone wrote an extensive treatise last weekend titled “A Pastoral Letter on the Human Dignity of the Unborn, Holy Communion, and Catholics in Public Life.”
In the letter, the archbishop defends the protection of unborn babies on the basis of the sanctity of human life. He also makes a point to sharply condemn public leaders who profess the Roman Catholic faith but also publicly support the legalized murder of unborn babies. He even argues that if a Catholic politician will support abortion, they…(READ MORE)
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Chauvin, Three Other Officers Indicted on Civil Rights Charges Over Floyd Death |
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The federal grand jury also indicted Chauvin with two more Civil Rights charges in a separate document for an incident that occurred back in 2017.
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Derek Chauvin, the former Minneapolis police officer arrested and charged with second-degree manslaughter as well as third- and second-degree murder in the death of George Floyd, has been indicted again by a federal grand jury. Chauvin along with the three other police officers involved in Floyd's death - Tou Thao, J. Alexander Kueng, and Thomas Lane - have all been indicted with federal civil rights charges.
The announcement of these charges was made in a Justice Department news release.
“The three-count indictment alleges that all four defendants, while acting under color of law, willfully deprived…(READ MORE)
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DeSantis to Sign ‘Fairness in Women’s Sports’ Act |
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The Fairness in Women’s Sports Act passed the Florida House 79-37 and the Senate 23-16.
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Florida Governor Ron DeSantis told Laura Ingraham of Fox News during a town hall event that he’s prepared to sign legislation protecting women’s sports by preventing trans-women (biological males) from competing in female leagues. The legislation does not apply to elementary school age kids or trans-men (biological females) looking to play in male sports.
DeSantis said “We’re going to protect our girls. I have a four-year-old daughter and a one-year-old daughter. They’re both very athletic. We want to have opportunities for our girls. They deserve an even playing field, and…(READ MORE)
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Jacksonville, FL
May 20, 2021
6:30-8:30pm
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Deerwood Ballroom
***
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“The Great Reset” from a Biblical Perspective
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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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