My Writings. My Thoughts.

Wednesday June 24, 2020

// June 24th, 2020 // Comments Off on Wednesday June 24, 2020 // Daily News

Dow drops 500 points to lows of the day on concern about rising coronavirus cases

Stocks fell on Wednesday as traders grew worried about the increasing number of newly confirmed coronavirus cases, which raised concern about the economic reopening and recovery.

The Dow Jones Industrial Average dropped 500 points, or 1.9%. The S&P 500 traded 1.7% lower while the Nasdaq Composite slid 1.4%. The tech-heavy Nasdaq was headed for its first daily decline in nine sessions.

The major averages hit their lows of the day after Bloomberg News released headlines signaling a rise in Florida’s Covid-19 hospitalization rate along with a rise in the state’s number of confirmed cases.

“Markets pause with all eyes on the virus and the reopening heading into the summer months,” said Gregory Faranello, head of U.S. rates trading at AmeriVet Securities, in a note.  The health side is back front and center as both monetary and fiscal liquidity has been factored in short-term. We have entered a new phase of this crisis.”

A CNBC analysis of Johns Hopkins University data found the U.S. 7-day average of coronavirus cases surged more than 30% from a week ago after the total number of cases grew by more than 31,000 on Monday. California is one of the states that has seen a dramatic spike in cases, adding more than 6,000 on Monday alone. In Texas, the Covid-19 hospitalization rate has hit a record for 12 straight days. “We’re going to eclipse the totals in April, so we’ll eclipse 37,000 diagnosed infections a day,” former Food and Drug Administration Commissioner Dr. Scott Gottlieb told CNBC’s “Squawk Box.” “But in April we were only diagnosing 1 in 10 to 1 in 20 infections, so those 37,000 infections represented probably half a million infections at the peak.”

Overseas, Germany reported a cluster of newly confirmed cases at a slaughter house in Lower Saxony. That’s the latest in a series of coronavirus outbreaks in Germany. Shares of companies primed to benefit from the economy reopening faltered. United Airlines fell 5.9%. Delta, American and Southwest all slid over 4%. Carnival, Norwegian Cruise Line and Royal Caribbean were lower by 9.7%, 10.9% and 10%, respectively. Retailer Gap also fell 8%. Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said Tuesday the U.S. is seeing a “disturbing” surge in new Covid-19 cases.“This raises many questions but the most important is the policy direction,” said Tom Lee, head of research at Fundstrat Global Advisors, regarding the spike in cases. “We still see positive risk/reward in stocks and as we have said for some time, equities are in the hands of buyers.” Lee added that if the S&P 500 can stay above its 76% retracement levels, new highs will be hit this summer.

Today’s Inspiration

You’re Stronger than You Think

The enemy likes to fill our minds with thoughts like I can’t, and I’m not strong enough. He wants us to be weak minded so we’ll give up before we even try. It seems that between childhood to adulthood, we receive a lot of messages from the world and other people that make us afraid that we don’t have what it takes. But if you have Jesus, then you have what it takes to do anything you need to do, and anything He wants you to do. And He definitely wants you to be healed from past wounds, and to be able to enjoy Him, yourself, other people, and your life. I encourage you to begin thinking, I am strong.

My mother confessed to me 30 years after I got away from my father’s sexual abuse that she didn’t do anything about what he was doing, even though she knew about it, because she didn’t think she could face the scandal. My mother thought she was weak and so she was. She stayed with a man who regularly hit her and was abusive and unfaithful over and over again. Why? Her own thoughts defeated her. If you see yourself as weak and incapable, you will allow people to mistreat you instead of standing up for yourself. If you have an “I can’t” mindset or feel that you’re simply too weak or not smart enough to do what you need to do, make a decision today to begin thinking strong! Think strong—be strong!

See yourself as the new creation that you are (see 2 Corinthians 5:17), and believe that through Christ you can do whatever you need to do in life. You are far too precious and valuable to allow people to use and abuse you. We all feel weak at times, but when we do, we can go to God and His Word and receive His limitless strength. Isaiah said that God never faints or grows weary (see Isaiah 40:28); He lives in us, and “he who is in you is greater than he who is in the world” (1 John 4:4). Just think about it: The same power that raised Jesus from the dead lives in us (see Romans 8:11)!

The strength I’m talking about comes only from our relationship with God through Jesus; we’re not strong in and of ourselves. Jesus said that apart from Him, we can do nothing, but in Him we can do all things (see John 15:5; Philippians 4:13). Learning to lean on Him for everything is one of the first steps that will help your soul begin to heal. You are stronger than you think you are!

Prayer Starter: Father, please help me not to give in to a weak mindset, or the fear of not being enough. Thank You for staying by my side and providing me with all the strength I need today. In Jesus’ Name, amen.

Thursday June 18, 2020

// June 18th, 2020 // Comments Off on Thursday June 18, 2020 // Daily News

Jobless claims total 1.5 million, worse than expected as economic pain persist

KEY POINTS
  • First-time claims for unemployment insurance totaled 1.5 million last week, well above the 1.3 million expected.
  • Workers receiving benefits under all programs including pandemic assistance totaled 29.1 million, a decrease of more than 375,000.
  • This was the 13th straight week that claims have totaled abov

Weekly jobless claims stayed above 1 million for the 13th consecutive week as the coronavirus pandemic continued to hammer the U.S. economy.

First-time claims totaled 1.5 million last week, higher than the 1.3 million that economists surveyed by Dow Jones had been expecting. The government report’s total was 58,000 lower than the previous week’s 1.566 million, which was revised up by 24,000.

The elevated claims number persists even as all states have reopened to varying degrees and nonfarm payrolls grew by 2.5 million in May. Before the coronavirus, the record for a single week was 695,000 in September 1982.

“The 58K drop in claims this week is very disappointing, given that the level still remains so high; the worst single week after the crash of 2008 saw claims at 665K,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics. “It’s not clear why claims are still so high; is it the initial shock still working its way up through businesses away from the consumer-facing jobs lost in the first wave, or is it businesses which thought they could survive now throwing in the towel, or both? Either way, these are disappointing numbers and serve to emphasize that a full recovery is going to take a long time.”

Today’s Inspiration

A Deeper Level of Prayer

Asking God for what we need and want in the natural realm is definitely not wrong, but we shouldn’t have our main focus on those things. God’s Word says that He knows what we need before we ask Him (see Matthew 6:8), so all we need to do is let Him know that we’re trusting Him to take care of everything that concerns us.

After we ask God to meet our daily physical needs, we can focus the majority of our prayer time on talking to Him about our spiritual needs; things like spiritual maturity, developing and displaying the fruit of His Spirit, obedience, and walking in love, to name a few. We also have the privilege of praying for other people and being part of their victories. God is inviting us to a deeper walk with Him, and the closer we get to Him, the more our desires will become like His.

Prayer Starter: Father, thank You for hearing me every time I pray. Even though I have daily needs that I bring to You, help me grow into a deeper level of prayer where I can begin to hear and pray what’s on Your heart. In Jesus’ Name, amen.