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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 dropped 333.29 points, or 1%, to close at 33,093.34. The S&P added 13.47 points, or 0.3%, ending at 4,205.45. The Nasdaq gained 317.79 points, or 2.5%, closing at 12,975.69.
Stocks were mixed on Thursday as Wall Street continued to be held hostage to debt ceiling negotiations in Washington.
Federal Reserve officials "generally agreed" last month that the need for further interest rate increases "had become less certain," according to meeting minutes released on Wednesday.
U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Thursday appeared to be nearing a deal to cut spending and raise the government's $31.4 trillion debt ceiling, with little time to spare to head off the risk of default.
Florida Republican Governor and U.S. presidential hopeful Ron DeSantis on Wednesday pledged to support people's right to trade in digital assets like Bitcoin and said he opposes establishing a central bank digital currency.
Federal Reserve emergency lending to banks fell in the latest week to its lowest level since the banking sector ran into trouble in March.
Economic growth in Q1 was revised up to a 1.3% gain from the 1.1% rate of increase in the advance estimate, led by upward revisions to personal consumption growth and private inventories.
US Mortgage applications fell by 4.6% in the week ended May 19 as mortgage rates hit a two-month high.
Weekly claims for jobless benefits in the US increased following a downward revision to the previous week's level, government data showed.
Manufacturing activity in the Mid-Atlantic region unexpectedly fell deeper into contraction territory in May as shipments and orders declined further.
U.S. business activity increased to a 13-month high in May, lifted by strong growth in the services sector.
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Friday Recap: Wall Street Surges on Debt Ceiling Optimism
Wall Street jumped on Friday following progress in negotiations on raising the U.S. debt ceiling, while chip stocks surged for a second straight day on optimism about artificial intelligence.
President Biden and Republican Kevin McCarthy appeared to be nearing a deal to increase the government's $31.4 trillion debt limit for two years, while capping spending on most items, a U.S. official told Reuters.
The IMF said on Friday that U.S. interest rates will likely need to remain higher for longer to tame inflation, and Washington needs to tighten fiscal policy to bring down its federal debt.
U.S. consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter, and inflation picked up, which could prompt the Federal Reserve to raise interest rates again next month.
A rebound in factory production and a pickup in business activity also suggest that the economy was experiencing a spring revival after hitting a speed bump in the first quarter.
Gold and Silver edged slightly higher on Friday as the dollar steadied and bond yields rose following reports the Biden Administration and House Republican are near a deal to raise the US debt ceiling. Palladium and platinum also had slight gains.
The Dow Jones Industrial Average gained 328.69 points, or 1%, to close at 33,093.34; the S&P 500 added 54.17 points, or 1.3%, ending at 4,205.45; the Nasdaq Composite rose 277.59 points, or 2.2%, closing at 12,975.69.
For the week, the DJIA dropped 333.29 points, or 1%, to close at 33,093.34. The S&P added 13.47 points, or 0.3%, ending at 4,205.45. The Nasdaq gained 317.79 points, or 2.5%, closing at 12,975.69.
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A Prayer for Memorial Day | |
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Editor’s Note: The below post was written by the late founder of FISM, Dan Celia. Dan was a veteran and patriot and encouraged others to honor Memorial Day for what it was intended, a day to remember and honor those who died protecting the freedoms Americans enjoy.
First of all, then, I urge that supplications, prayers, intercessions, and thanksgivings be made for all people, for kings and all who are in high positions, that we may lead a peaceful and quiet life, godly and dignified in every way. – 1 Timothy 2:1-2
May we ever remember that our nation’s oath is “In God We Trust.” As a country may we never bring shame upon our oath, our faith, our families, or our fellow man. Lord, grant us wisdom, courage, and protection. May we remember our freedoms here in America, as we remember those that continue to protect us and our freedoms. By Your grace, O God, fortify them against the contagion of bad example and preserve them from evil. Preserve these men and women in uniform, civilian and military, as they defend us, our American way of life, and our Constitution. Serving You faithfully, may they be ready to meet you face to face when they are so called. May we also give thanks for the brave men and women who have given the ultimate sacrifice for our freedoms. We Praise you, oh Lord, for Your hand of Blessing on America.
God Bless America, Home of the Brave and Land of the Free.
“That we here highly resolve that these dead shall not have died in vain; that this nation, under God, shall have a new birth of freedom; and that government, by the people, for the people, shall not perish from the earth.”– Abraham Lincoln, Gettysburg Address, 1863
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Donations may be made by clicking on the secure link above, or by mailing a check or money order to: Financial Issues Stewardship Ministries, or "FISM," PO Box 270, Exton, PA 19341.
(All donations are tax deductible and non-refundable.)
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A Moment In History: Memorial Day | |
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Click HERE or on the image below to view our special presentation of
"The History of Memorial Day" on A Moment in History by Seth Udinski
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Join host, Seth Udinski, as he explores the most pivotal moments in history, including compelling stories and people of the Bible. Gain a new perspective and insight into the events that have shaped our world, while enjoying Seth’s masterful storytelling at A Moment in History. | |
Watch Financial Issues Live
with Shana Burt hosting our daily radio program
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As of May 1, 2023
Watch Financial Issues with Shana Burt
on 398 CSN radio stations around the Country
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We are excited to announce the launch of Financial Issues with Shana Burt on all 398 CSN stations around the country on May 1, 2023. The show will be broadcast at 2:30 p.m. ET (1:30 p.m. CT, 12:30 p.m. MT, 11:30 a.m. PT), Monday through Friday, on these stations.
The CSN broadcast will be a 30-minute "abridged" rebroadcast of the day's hour-long program. The show will continue to be live from 9:00-10:00 a.m. ET and you can continue to listen in during this time on the app, the website, and most current stations.
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You can find insightful video clips of the program on our FISM App, as well as on our website. On the FISM app, go to FINANCIAL ISSUES, then scroll down to access 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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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! | |
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~ Matching Donor ~
Please Join Us In Saving Babies this Mothers' Day!
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Thanks to your generous donations, the Financial Issues audience has already raised over $78,576 and 14 ultrasound machines for PreBorn! Join us in the fight for the unborn and help us reach our goal of placing 30 machines by the end of the month. | |
IRS Whistleblower Goes Public in CBS Interview | | |
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Shapley is scheduled to testify behind closed doors on Friday before the House Ways and Means Committee, according to a letter from his lawyers.
Chris Lieberman, FISM News
A Note from Yvonne Celia
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The IRS whistleblower who alleged political interference in the Hunter Biden investigation has come forward publicly for the first time, speaking in an interview with CBS on Wednesday night.
Gary Shapley, a 14-year IRS veteran, told CBS News chief investigative correspondent Jim Axelrod that he could no longer remain silent about the Department of Justice’s (DOJ) interference in his investigation.
“When I took control of this particular investigation, I immediately saw deviations from the normal process. It was way outside the norm of what I’ve experienced…(READ MORE)
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Massive Chinese Spy Operation Aimed at US Infrastructure Uncovered | |
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Many believe China successfully gathered U.S. military and technological information through the balloon.
Chris Lange, FISM News
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Officials with Western intelligence agencies and Microsoft revealed on Wednesday that Chinese government-backed hackers have been spying on an extensive number of critical U.S. infrastructure networks and organizations including transportation hubs.
In this recent blog post, Microsoft analysts warned they had “moderate confidence” that the Chinese hackers are working on gaining capabilities that may be utilized to “disrupt critical communications” between North America and the Asia Pacific region when there’s another crisis involving the U.S. and China.
“It means they are preparing for that possibility,” said John Hultquist, who’s in charge of threat analysis…(READ MORE)
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Texas Sues Biden Administration over CBP One Phone App, Says It Encourages Illegal Immigration | | |
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The Biden asylum rule may have had some effect on the number of people entering the country illegally, until the app is taken into account.
Matt Bush, FISM News
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Texas Attorney General Ken Paxton is suing the Biden administration claiming that the Customs and Border Patrol (CBP) app, CBP One, is actually encouraging illegal immigration rather than trying to stop it.
The Biden administration proposed a rule in January that would require migrants to claim asylum in a country that they traveled through on their way to America. If they failed to do so, according to the rule, they would not be eligible for asylum in America.
The rule was meant to help lessen the impact of the expiration of Title 42, which ended…(READ MORE)
SEE ALSO: Tennessee National Guard deploys to Southern Border
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Ukraine Update: Moscow, Minsk Formalize Nuclear Weapon Deployment To Belarusian Territory | |
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Shoigu said that the nuclear weapons will remain under Russian control as well as any decisions regarding their use.
Chris Lange, FISM News
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Russia and Belarus on Wednesday put ink to paper to formalize a March agreement for the deployment of Russian tactical nuclear missiles to Belarusian territory.
“In the context of an extremely sharp escalation of threats on the western borders of Russia and Belarus, a decision was made to take countermeasures in the military-nuclear sphere,” Russian Defence Minister Sergei Shoigu said in Minsk Wednesday during a meeting with Belarusian Defense Minister Viktor Khrenin, the Associated Press reported.
“Deployment of nonstrategic nuclear weapons is an effective response to the aggressive policy of countries unfriendly…(READ MORE)
SEE ALSO: Ukraine Update: Russia and China Enter into New Economic Pacts in Defiance of Western Disapproval
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IRS Whistleblower Letter Claims DOJ Hindered Hunter Biden Probe for Years | | |
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President Biden appointees limited the ability of Delaware U.S. Attorney David Weiss to pursue charges against his son...
Trey Paul, FISM News
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McCarthy, Biden Make Headway on Debt Ceiling Deal | |
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Americans might breathe a slight sigh of relief at the news, but the victory would prove a mixed blessing for taxpayers.
Willie R. Tubbs, FISM News
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Republicans and Democrats are showing again that they tend to work best during the 11th hour.
After months of little to no progress, and with default on the horizon, House Speaker Kevin McCarthy and President Joe Biden appear to be closing in on a deal that will solve the nation’s credit rating issue for two years.
Reuters reports that the compromise taking shape is one that would allow for increased spending on defense and veterans, and cap everything else at current-year…(READ MORE)
SEE ALSO: Majority of Americans want spending cuts in debt ceiling plan
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DeSantis Campaign Hauls in More Than $8 Mil in First 24 Hours after Presidential Campaign Launch | | |
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DeSantis’ stunning fundraising haul is believed to have also surpassed donations made to Donald Trump’s 2024 campaign in the two-day period...
Chris Lange, FISM News
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Republican Florida Gov. Ron DeSantis raked in $8.2 million in the 24-hour period after he announced his presidential campaign Wednesday, despite its rocky launch. By comparison, Joe Biden’s 2020 campaign raised $6.3 million in the first 24 hours of his candidacy, according to The New York Times.
“This historic fundraising haul shows that grassroots Republicans across the country are uniting behind Governor DeSantis’ vision for our Great American Comeback,” Generra Peck, a member of DeSantis’ 2024 campaign team, said in a Twitter…(READ MORE)
SEE ALSO: Tim Scott Delivers ‘Hopeful’ Message as He Announces Presidential Bid
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Recalled Eye Drops Linked to Multiple Deaths and Blindness across US | |
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Patients have reported experiencing a variety of symptoms including eye infections, permanent vision loss, keratitis, endophthalmitis, respiratory infection, urinary tract infection, and sepsis.
Lauren Dempsey, FISM News
MS in Biomedicine and Law, RN
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The Centers for Disease Control and Prevention (CDC) and the U.S. Food and Drug Administration (FDA) are recommending healthcare providers and patients stop using EzriCare or Delsam Pharma’s Artificial Tears products.
The warning comes after a multistate outbreak of an extensively drug-resistant strain of Pseudomonas aeruginosa, called VIM-GES-CRPA, a combination not previously seen in the United States.
To date, there have been a total of 81 patients in 18 states that have been associated with this outbreak including…(READ MORE)
SEE ALSO: Brain Implant Offers Personalized Chronic Pain Treatment
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When you open the app and select the FISMTV box at the top, you will see a tab below for APP HELP. There you will find FAQs and Tips & Tricks for using the app. (Learn more below.)
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Now Watch Financial Issues LIVE every weekday morning! | |
Listen live and call in ON AIR to 610-363-1110 with your questions for Shana every Monday-Friday between 8AM and 9AM CT. You can also now "chat" with Shana during the program using the WATCH LIVE link under the SHOW tab on our website.
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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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