Weekly Macro Minute

Samuel Parsons authored this issue’s devotional. He served the Lord for 48 years.

My daddy was a country preacher, the pastor of Silver Shoals Baptist Church near Homer, Georgia. We were in the Enon Baptist Association at the time. I enjoyed hearing my daddy preach and sing. His favorite song was:

“I want to thank Him for what he has done,

I must look back to the Crucified One,

On that beautiful shore…

I want to kneel down once more

And to thank Him for what he has done!”

My mother taught me about Jesus in the “Card Class.” Today, I am so thankful not only for my parents, grandparents, and sister, and for our Christian home, but for how and why they lived before me as born-again believers, through hard times and good times. I am so thankful for all of them.

I am more thankful to my heavenly Father through Jesus, his Son, who left a perfect heavenly throne to come to earth and become sinful man’s crucified one on a cruel cross at Calvary, for this little sinful boy, disobedient and rebellious at times, to become my Savior at the age of 10.

I am so thankful for that memory. My heart explodes with so many wonderful memories of people who were a great example of people with faith in Jesus, our Lord. Like my first‑grade teacher, who taught me to love others, a neighbor one mile away, my algebra teacher in high school, a preacher of God’s Word and a Southern Baptist preacher who gave me great encouragement to follow the Lord.

It was he who took a busload of high schoolers to a Billy Graham Crusade in Greenville, South Carolina, in March of 1966, where I made a further decision to follow Jesus, one that would later influence my surrender to preaching the Gospel of Christ and lifelong service in local churches. I am thankful a million times over!

Let everything that has breath praise the Lord! Psalm 150:6 (NKJV)

What has God done for you through the years of your life? Are you thankful for the bad and the good? Will you give God thanks today and every day? As one of my great aunts used to say, “Well, it’s about time!”

What would our homes, churches and nation be if we gave God the praise for all that He has done? (Romans 8:28-30).

Prayer: Father, forgive us of our ingratitude and unthankful hearts. Help us to give praise to You, Heavenly Father, all the days of our lives. In Jesus’ name, Amen.

Equities extend gains as volatility eases

• U.S. equity markets finished the week higher as volatility tied to Middle East developments moderated and energy prices moved off earlier highs.
• The S&P 500^® rose 0.6%, marking its fourth consecutive weekly gain.
• Small-cap stocks edged higher, with the Russell 2000^® up approximately 0.4%.

Earnings support market momentum

• First‑quarter earnings remained an important driver as reporting progressed.
• With roughly one‑fifth of S&P 500^® companies having reported, the share of firms beating expectations remains above historical averages.
• Blended year‑over‑year earnings growth is tracking near 15%.

Treasury yields drift higher

• Treasury markets faced modest pressure ahead of the upcoming Federal Reserve meeting.
• The 10‑year Treasury yield ended the week near 4.30%, up slightly from the prior week but below late‑March highs.
• Shorter‑term yields rose more sharply, contributing to continued curve flattening.

Energy markets remain volatile

• Oil prices were volatile as geopolitical headlines continued to influence supply expectations.
• WTI crude ended the week near $95 per barrel, up from the prior week but below early April peaks above $110.
• Despite the pullback, oil prices remain sharply higher year-to-date amid continued supply and shipping uncertainty.

Middle East disruptions keep markets cautious

• A fragile ceasefire held, though shipping through the Strait of Hormuz remained severely constrained and the U.S. naval blockade of Iranian ports stayed in place.
• These disruptions have continued to restrict a meaningful share of global oil supply, keeping markets highly sensitive to diplomatic developments.

European equities pull back

• European stocks declined as weaker business and consumer confidence weighed on sentiment, particularly in economies exposed to higher energy costs.
• Central bank communication remained cautious amid elevated geopolitical uncertainty.

Asian markets mixed

• Japanese equities delivered mixed results as technology strength was offset by pressure from higher energy costs and inflation data.
• In China, equity markets were relatively stable as policymakers kept lending rates unchanged, reinforcing a wait‑and‑see stance.

Consumer spending remains resilient

• March retail sales rose 1.7%, the strongest monthly increase in more than three years, driven largely by higher gasoline prices.
• Excluding gasoline, sales increased a solid 0.6%.
• The retail control group, which feeds directly into GDP calculations, rose 0.7% and prior months were revised higher, signaling steady underlying demand.

Labor market conditions stable

• Initial jobless claims remained contained near 200,000, indicating limited layoffs.
• Continuing claims edged higher to roughly 1.8 million, pointing to slower reemployment but not a sharp deterioration.

Sentiment remains subdued

• Consumer sentiment declined further in April, remaining near historical lows.
• Inflation expectations moved higher alongside rising energy prices, highlighting persistent concerns around cost‑of‑living pressures.