Thursday January 6, 2022

// January 6th, 2022 // Daily News

Today we remember the FAKE insurrection narrative being pushed by the libtard left

Nasdaq falls for a third day as investors flee tech because of higher rates

Stocks continued their slide on Thursday, following an update by the Federal Reserve during the previous trading session that drove investor worries over tighter monetary policy and led to the year’s first losing session.

The Dow Jones Industrial Average lost 183 points, or 0.5%. The S&P 500 fell 0.5% and the Nasdaq Composite dropped 1.2%.

Losses in tech stocks pushed the Nasdaq down as investors continued rotating out of high valuation tech stocks. Tesla and Netflix fell 4% and 3%, respectively.

Fintech stocks and crypto stocks were hit hard. Robinhood dropped 6% and SoFi lost 5%, while Affirm and Afterpay both fell about 4%. In crypto, Coinbase fell 3%, Microstrategy slid 4% and Square lost 2%.

Rate-sensitive stocks were higher a day after minutes from the Federal Reserve’s December meeting revealed the central bank is getting ready to remove its economic help more more quickly than anticipated. Officials discussed reducing the Fed’s balance sheet in another move to dial back its pandemic-era easy monetary policy.

As investors digested the minutes Thursday, the 10-year Treasury yield pushed above 1.75%, after ending last year at 1.51%.

Shares of Wells Fargo and Citi rose more than 2%, while JPMorgan and Bank of America added 1%. Fifth Third Bancorp gained more than 3%.

The Fed’s plan to reduce the number of Treasurys and mortgage-backed securities it holds comes as it is already tapering its bond purchases and is set to hike interest rates after the taper concludes.

“Almost all participants agreed that it would likely be appropriate to initiate balance sheet runoff at some point after the first increase in the target range for the federal funds rate,” the minutes stated.

Stocks slid Wednesday following the release of the minutes. The blue-chip Dow Jones Industrial Average closed 392.54 points, or 1.07%, lower after hitting an intraday record earlier in the session. The S&P 500 fell 1.94%. The tech-heavy Nasdaq saw its biggest one-day loss since February, losing 3.34%.

Today’s Inspiration

Build Bridges—Not Walls

Adapted from the resource Closer to God Each Day – by Joyce Meyer

Instead of the walls that I used to build around my life, I have learned to build bridges. By the power of grace and God’s forgiveness, all the difficult and unfair things that happened to me in life have been turned into highways over which others can pass to find the same liberty that I found.

God is no respecter of persons (Acts 10:34). What He has done for me, He will do for you too. As you draw closer to God on a daily basis, you can discover the same freedom that I have found, and you can become a bridge for others to pass over, instead of a wall that shuts them out.

Jesus pioneered a pathway to God for us. He became a highway for us to pass over. He sacrificed Himself for us, and now that we are benefiting from His sacrifice, He is giving us a chance to sacrifice for others so they can reap the same benefits we enjoy.

Instead of shutting people out, I suggest that you ask God to allow you to see them as He sees them. Love them, forgive them, and point them to God so He can heal their wounds and fill them with His peace and joy.

Prayer Starter: Father, thank You for Your perfect peace. Because of Your great love for me, Your Word promises me that I can live in peace and free from stress, anxiety, frustration, bitterness, strife, and offense! Help me be a bridge that brings more people to You. In Jesus’ name, amen.