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 BibleL-O-V-E

Revelation 5:5 (CSB)

Anna Manning authored this issue’s devotional. She served the Lord alongside her late husband, James, for 36 years.

Then one of the elders said to me, “Do not weep. Look, the Lion from the tribe of Judah, the Root of David, has conquered so that he is able to open the scroll and its seven seals.” Revelation 5:5 (CSB)

This verse says that only one person in Heaven was worthy to open the scroll with seven seals, and that person was Jesus Christ. His worthiness can overshadow our unworthiness. Because of the salvation only He can give, we can truly feel His love and have no feelings of worthlessness.

I don’t know how people live without Christ in their lives. I feel ashamed of myself when I think of what he went through for you and me. Can you imagine the pain he went through for us? He let them spit on him, pull his hair and beat him nearly half to death. Then they gave him a crown of thorns — that alone was an ordeal. The thought of him just standing there and letting them push that crown down on his head makes me want to hang my head in shame. Then, the worst of all, the cross. It was so heavy that they had to get someone else to carry it to the hill. Any time during that ordeal, Jesus could have called 10,000 angels to his aid, but he didn’t. Do you know why? It’s spelled L-O-V-E. Love for you, me, and everyone who calls on his name. He let them nail him on that cross for us. I don’t want what he went through to be in vain. Do you?

If you don’t, repent of your sins, tell Jesus you are sorry and ask him to come live in your heart. He will. He has been my savior since 1961, and I look forward to the rapture when Jesus calls all his children home.

If I go to heaven before then, I’ll bow at Jesus’ feet and thank him for his forgiveness. All my family is waiting for me there, including my husband of 58 years. It’s a lonely place down here without him. I’m so glad he told me about Jesus so many years ago. Just think of what I could be missing if I didn’t know the Lord of Lords and King of Kings. I hope you come to know him, too.

If you haven’t already, will you call on the name of Jesus today?

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


Across the Markets

Mixed performance as small caps extend strong run
  • U.S. equity indexes were mixed, with the S&P 500® down 0.4%, pulling back from record levels.
  • Small-cap stocks outperformed again, with the Russell 2000® rising more than 2% and outperforming large caps for 11 straight days — the longest streak since 2008.
Market breadth improves
  • The equal-weighted S&P 500® gained 0.7%, outperforming the cap-weighted index.
  • Industrials, real estate, staples and semiconductors led sector gains.
  • Early Q4 earnings were mixed: several large banks beat estimates, while others saw softer net interest income.
Treasury yields steady as expectations shift
  • 2-year yield rose to 3.6%; 10-year remained near 4.2% as the curve flattened.
  • Markets now expect less than 50 basis points of Federal Reserve rate cuts in 2026 amid firm economic data and hawkish commentary.
Commodities mixed
  • Gold gained approximately 2%, nearing record highs.
  • Oil spiked on geopolitical tensions but ended the week up just 0.5% as supply concerns eased.
Global equities gain on improving economic signals
  • European equities rose as Germany exited a two-year recession and the UK returned to growth.
EU reaches new trade agreement
  • EU and South American nations struck a provisional free-trade deal removing tariffs on 90%+ of traded goods.
Japan rallies on fiscal stimulus prospects
  • Japanese equities jump after a snap election announcement boosted stimulus expectations.
  • Yen stabilized around JPY 158 per USD.
China faces market pressure despite strong trade surplus
  • Chinese equities fell following tighter margin financing rules.
  • China posted a record $1.2 trillion trade surplus in 2025, raising concerns about rising global protectionism heading into 2026.

In the Economy

Inflation steady to close 2025
  • CPI held at 2.7% year-over-year in December, matching expectations and November’s pace.
Consumer spending remains resilient
  • November retail sales rose 0.6% versus a 0.4% forecast, rebounding from October’s decline.
Housing rebounds
  • Existing home sales rose 5.1% in December with gains across all regions.
  • Demand supported by easing mortgage rates and slower price growth.
  • New home sales edged down slightly but met expectations.

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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 Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Indexes are available for the U.S. and various geographic areas.