Thursday January 6, 2022

// January 6th, 2022 // Comments Off on Thursday January 6, 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.

Thursday December 16, 2021

// December 16th, 2021 // Comments Off on Thursday December 16, 2021 // Daily News

Dow futures up 200 points following Fed decision to aggressively wind down asset purchases

U.S. stock futures rose sharply in early Thursday trading after the Federal Reserve signaled it would be aggressive on tapering and sees three interest rate hikes in 2022.

Futures on the Dow Jones Industrial Average jumped about 222 points. S&P 500 and Nasdaq 100 futures added 0.7% each.

Shares of companies that have done well in previous rate-hiking cycles led premarket gainers. Materials stocks FMC Corp. and Freeport-McMoRan both rose more than 3% ahead of the opening bell. Bank stocks also rose across the board, with JPMorgan Chase, Citigroup and Bank of America all up about 0.6%.

In transportation news, Delta Air Lines reported that it now expects to see a profit of $200 million in the fourth quarter, after previously projecting a loss. Shares rose 2.2% on the news.

In other central banking news, the Bank of England announced it is hiking its key policy rate by 15 basis points to 0.25%. Markets were awaiting a separate policy decision from the European Central Bank. There also is more economic news on tap, with weekly jobless claims and housing starts out at 8:30 a.m. ET.

Following the Fed news, traders accelerated their own expectations for interest rate increases. Fed funds futures trading now points to a 63% chance of the first quarter-percentage-point increase coming in May 2022, with chances also rising to about 44% that the central bank could make its first move as soon as March, according to the CME FedWatch Tool.

Stocks traded in negative territory throughout the regular session Wednesday and turned higher ahead of Fed Chairman Jerome Powell’s press conference in the afternoon at the conclusion of the two-day Federal Open Market Committee meeting. The Dow added 383 points, or 1.08%. The S&P 500 rose 1.63% and the tech-heavy Nasdaq Composite jumped 2.15%.

“The fact that the FOMC acknowledged new COVID variants as a threat to the economic recovery that could alter policy going forward, as well as the generally optimistic tone from Powell in the presser, helped spark a relief rally as the Fed meeting was viewed as being not-as-hawkish-as-feared,” Tom Essaye of the Sevens Report said in a note on Thursday.