Weekly Macro Minute

Dr. Larry E. Fackler authored this issue’s devotional. He served the Lord for more than 34 years.

1 Kings 18:38 begins with the word “then.” The question becomes: “When is then?”

The answer is found in verses 36–37, in Elijah’s prayer. Prayer is the answer.

We often mention familiar biblical names, yet we truly know little about the people themselves.

Elijah means “God is Jehovah” or “God himself.” Elijah the Tishbite is one of the grandest and most romantic figures Israel ever produced (1 Kings 17–19).

He was “a man who had no fear of man.” No Old Testament figure is portrayed with more vividness or fascination than the unique character of Elijah.

The New Testament affirms his greatness and shows what an unforgettable impression he made on the heart of his nation.

Before his dramatic entrance into Scripture, all we know is captured in one simple line:

“Elijah the Tishbite, who was of the inhabitants of Gilead” (1 Kings 17:1). Scripture is silent about his past.

This man of iron is presented in many ways:

1. A fearless, bold, dauntless reformer (1 Kings 18:17–46)
2. A rebuker of kings (1 Kings 21:20; 2 Kings 1:16)
3. A mighty intercessor, praying with faith and intensity (1 Kings 17:20)

With this in mind, let us examine one of Elijah’s prayers and how it speaks to us today.

Three Things About Prayer (1 Kings 18:36)

1. Elijah’s Motive

“Let it be known this day…that thou art God.”

The chief motivating factor of true prayer is this: “thou art God.”

Everything begins with who he is.

Notice that the fire fell after he prayed, as soon as the prayer ended. The fire came down and consumed the bullock, the wood, and everything upon the altar.

2. Elijah’s Ministry

“I am thy servant.”

Elijah was obedient. 1 Kings 17:21 shows it was a stretching ministry.

Our ministry also requires contact, consistency and compassion.

3. Elijah’s Method

“…done all these things at thy Word.”

To accomplish God’s will, we must be obedient to his Word, his will and his way in our lives.

Every believer should crave a deeper relationship with the living God — daily. Look to Elijah as an example of faithful living. Remember: the condition of your heart determines the direction of your life.

How can you pursue a deeper relationship with the living God?

Equities slide for a third straight week

1. Major U.S. equity indexes declined amid heightened geopolitical tensions and rising bond yields.
2. S&P 500® fell 1.6%
3. Small caps underperformed, with the Russell 2000 down 1.8%.
4. The recent pullback leaves the S&P 500® nearly 5% below its late‑January record high.

Market breadth narrows

1. Energy stocks outperformed on surging oil prices, while defensive sectors such as utilities posted modest gains.
2. Cyclical sectors lagged, with financials, industrials and consumer discretionary stocks seeing the largest declines.

Yields rise as rate‑cut expectations fade

1. Treasury yields moved higher, and the yield curve flattened as inflation concerns persisted.
2. The 2‑year yield rose to 3.73% and the 10‑year ended the week at 4.28%.
3. Futures now imply less than a 25 bp Fed rate cut by year‑end.

Commodities diverge

1. Oil prices surged as Middle East supply disruptions intensified.
2. WTI crude jumped 8.2% to around $100 per barrel, bringing gains to nearly 47% since the conflict began in late February.
3. Gold declined over the week as the U.S. dollar strengthened on safe‑haven demand.

European equities pressured by energy concerns

1. European stocks declined as rising oil prices and geopolitical risks weighed on growth expectations.
2. Recent data highlighted softness in manufacturing and industrial activity across the region.

Japanese stocks retreat on oil sensitivity

1. Japanese equities fell as higher energy costs raised concerns about the pace of economic recovery.
2. Authorities announced fuel subsidies and strategic reserve releases to help cap domestic prices.

Chinese markets show mixed signals

1. Chinese equities were mixed for the week as stronger inflation and export data offset lingering growth concerns.
2. Consumer prices accelerated, exports surged early in the year, and trade balances reached record levels.

Inflation mixed but contained

1. CPI rose 0.3% in February and held at 2.4% year‑over‑year, in line with expectations.
2. Core PCE increased 0.4% in January, pushing the annual rate to 3.1%, the highest since 2024.

Growth revised lower

1. Q4 2025 GDP was revised down to 0.7% annualized from an initial 1.4%.
2. Weaker consumer spending, exports, government outlays, and business investment drove the revision.

Labor demand shows resilience

1. Job openings rose to 6.95 million in January from 6.55 million in December.
2. The quits rate held at 2.0%, while layoffs edged lower, signaling continued demand for workers.

Housing activity improves

1. Existing home sales rose 1.7% in February, beating expectations.
2. Affordability improved for an eighth straight month, reaching its best level since early 2022.
3. Housing starts jumped 7.2% in January, pointing to increased construction activity.