Danny Robbins authored this issue’s devotional. He served the Lord alongside his wife, Ella, for 34 years.

The apostle John was very aware that the Jews, the priests and the Levites were familiar with the word of the Lord. They had been thinking, talking, and writing about it for centuries. The phrase “the word of the Lord” is found throughout the Old Testament and conveys a command of God.

To whom the word of the Lord came to Jeremiah in the days of Josiah … Jeremiah 1:2 (KJV)

The word of the Lord came expressly unto Ezekiel … Ezekiel 1:3 (KJV)

In his Gospel, John takes this imagery from the Old Testament and sheds new light on the word.

The Gospel of John begins with the same three words that the book of Genesis opens with: “In the beginning …“ John 1:1 (KJV)

John 1:4 (KJV) shows Christ as the creator: “In him was life; and the life was the light of the men.” A word is spoken, and creation begins.

John 1 establishes the relationship between Jesus and God and provides a key connection: Jesus is the Word.

John 1:14 (KJV) states, “And the Word was made flesh and dwelt among us, (and we beheld his glory, the glory of the only begotten of the Father,) full of grace and truth.” Jesus is and always was the Word.

John 20:31 (KJV) says, “But these are written, that ye might believe that Jesus is the Christ, the Son of God; and that believing you might have life through his name.”

To whom can you spread the Word this week?

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Across the Markets

Stocks hover near record highs

• Major indexes were flat for the week: S&P 500® (–0.1%), Russell 2000® (+0.2%).
• August performance: S&P 500® (+2.0%), Russell 2000® (+7.1%).

Broader market participation improves

• Equal-weighted S&P 500® outperformed cap-weighted by 66 basis points, signaling strength beyond mega-cap tech.

Earnings growth remains strong

• S&P 500® companies posted 11.7% average earnings growth in Q2 — third straight quarter of double-digit gains.

Treasury yields mixed as curve steepens

• Short-term yields dipped on rising Fed rate-cut expectations.
• 10-year yield held steady near 4.23%.

Gold surges to record highs

• Spot gold closed at $3,448/oz (+2.8% for the week).
• Futures hit $3,518/oz on rate-cut speculation.

Europe declines amid political and geopolitical concerns

• European Central Bank minutes show split on inflation risks: downside pressures vs. energy-related uncertainty.

Japan stalls ahead of policy decisions

• Major indexes down as investors await Bank of Japan’s next move.

China rallies despite weak data

• Retail investors drive momentum: margin debt at its highest since 2015, trading volumes hit records.

In the Economy

Inflation remains sticky, rate cut likely

• July Personal Consumption Expenditures: Headline inflation held at 2.6%, core rose to 2.9%.
• Fed Chairman Powell signaled a possible September rate cut.
• Futures markets price in ~88% chance of a 25-basis point cut.

Economic growth revised higher

• Q2 GDP upgraded to 3.3% annualized (from 3.0%) on stronger business and consumer spending.
• Marks a rebound from Q1’s slight contraction.

Consumers keep spending despite slower income growth

• July consumer spending rose 0.8%; personal income grew just 0.2%.
• Travel and dining remained strong.

Housing market shows mixed signals

• July new home sales dipped –0.6% to 652K annual pace.
• Upward revisions to prior months suggest stronger spring activity.
• Incentives from homebuilders help offset affordability pressures.