Weekly Macro Minute

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GuideStone Capital Management Weekly Macro Minute

GuideStone® was originally established in 1918 to provide financial support and assistance for retired pastors and widows. Today, we continue to carry out that mission through the ministry of Mission:Dignity®. Here’s an encouraging devotional from one of our recipients:

Icon of a Bible
Icon of a BibleReach Higher

2 Peter 3:18 (CSB)

Bill Spencer authored this issue’s devotional. He served the Lord alongside his wife, Shirley, for more than 20 years.

Have you ever wondered how the giant redwoods of California draw water to their foliage, often more than 300 feet in the air? It is not done through pressure from the roots but by pulling from above. The same law is found throughout nature — to grow taller, reach higher!

2 Peter 3:18a (CSB) says, “But grow in the grace and knowledge of our Lord and Savior Jesus Christ.

Have you ever realized that only God can make a man what he ought to be? If you were asked who the most perfect man was who ever lived, you would probably answer, “Jesus Christ.” And only as you by faith accept Christ, and he takes up his residence in your soul, will you rise to the heights of character and life that God wills for you. It’s by consistently seeking the face of God that we are pulled to him.

John the Baptist, in John 3:30 (CSB), said, “He must increase, but I must decrease.” The way to God is down — down on our knees in humility. He who humbles himself shall be exalted. This is the Christian paradox.

How many men today are living stunted, dwarfed, twisted and inferior lives because they refuse to reach higher by submitting to God’s leading?

Help us, dear Lord, to submit to the pull from above.

Want more devotionals? Our 40-day devotional book written by our Mission:Dignity recipients is available to order here.

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Across the Markets

Stocks rally on Federal Reserve signals
  • S&P 500® rose 3.7% and Russell 2000® jumped 5.5% as rate-cut expectations strengthened.
  • All S&P 500® sectors posted gains; Index ended November up 0.1%, marking its seventh straight monthly advance.
Rate-cut odds rebound sharply
  • Investors priced in an 86% chance of a December Fed cut, up from below 30% the prior week.
  • Treasury yields declined; 10-year fell to 4.01%.
Oil prices slide further
  • WTI dropped 3.8% to $58.67 per barrel, down 19% year-to-date amid oversupply concerns.
European equities climb on easing inflation
  • European equities gained as sentiment improved on softer Eurozone inflation and Fed rate-cut hopes.
Asia sees broad gains
  • Japan’s equity markets rose on dovish Fed signals.
  • China’s equity markets surged amid tech and AI optimism.

In the Economy

Retail sales slow in September
  • Sales rose 0.2%, missing expectations; motor vehicle sales declined for the first time in four months.
Wholesale inflation edges higher
  • PPI up 0.3% month-over-month; core PPI (ex. food and energy) rose 2.6% year-over-year, the smallest annual increase since July 2024.
Labor market remains resilient
  • Jobless claims fell to 216,000, the lowest since April; continuing claims rose slightly to 1.96 million.
Consumer confidence weakens
  • Conference Confidence Index® dropped to 88.7, the lowest since April, as job concerns and pessimism grew.

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This information is prepared by GuideStone Capital Management, LLC®, a controlled affiliate of GuideStone Financial Resources®. This material is provided for educational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. Diversification is not a guarantee against loss. This information does not represent any GuideStone® product. Special risks are inherent in international investing, including those related to currency fluctuations and foreign, political and economic events.

The material represented has been obtained from sources we consider reliable, but which we cannot guarantee. It is subject to change without notice and is not intended to influence your investment decisions. This information discusses general market activity, industry or sector trends or other broad-based economic, market or political conditions and should not be construed as research or investment advice.

All indices are unmanaged and not available for direct investment. Index performance assumes no taxes, transaction costs, fees or expenses. Past performance does not guarantee future results.

The S&P 500® Index is a market capitalization-weighted equity index composed of approximately 500 U.S. companies representing all major industries. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of its constituents. “Standard & Poor’s®”, “S&P 500®”, “Standard & Poor’s 500” and “500” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by GuideStone.

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe and is a subset of the Russell 3000 Index, representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership. The index is completely reconstituted annually to ensure that larger stocks do not distort the performance and characteristics of the actual small-cap opportunity set. Frank Russell Company ("Russell") is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. "Russell®" is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and/or Russell ratings and/or underlying data and no party may rely on any Russell Indexes and/or Russell ratings and/or underlying data contained in this communication. No further distribution of Russell Data is permitted without Russell's express written consent. Russell does not promote, sponsor or endorse the content of this communication. Index used with permission. It is not possible to invest directly in an index.

The West Texas Intermediate (WTI) Crude Oil Index is a benchmark in oil pricing, representing the price of oil extracted in the United States, primarily from Texas and surrounding areas. WTI is widely used in the oil futures market for trading and contract settlements. The Index reflects the spot and futures prices for WTI crude oil as traded on the New York Mercantile Exchanges (NYMEX).

The Producer Price Index (PPI) is published by the U.S. Bureau of Labor Statistics (BLS) and measures the average monthly change in the prices domestic producers receive for their output. It is a measure of inflation at the wholesale level that is compiled from thousands of indexes measuring producer prices by industry and product category.

The Consumer Confidence Index® measures consumer attitudes and confidence regarding their financial prospects. The Index is issued by the Conference Board and is based on the Consumer Confidence Survey®. It measures and compares how consumers view the overall economy, business conditions, and labor market presently and over the next six months.