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Both the stock market and the economy remain in a strong upward trend.
The Week That Was
The main economic news this past week comes from corporate earnings reports. With 15% of the S&P500 companies reporting, earnings and revenues have been extremely strong.
Year-over-year comparisons are explosive—due to the collapse in earnings last year. More important, Zach’s estimates overall second quarter earnings will be up 16% from the second quarter of 2019.
As for economic news, the Homebuilders’ Index for early July was a strong 80, though down slightly due to supply shortages in building materials.
Weekly unemployment data were mixed.
Initial unemployment claims leveled off at 394,000 in the two weeks ending July 17th. This is the same as June’s unemployment claims.
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Another weekly measure of unemployment is the number of those receiving unemployment payments. That number in the week of July 10th was down 29,000 to 3.2 million, its lowest level since March, 2020 when it was 3.1 million.
Things to Come The Markit business surveys for early July will provide the first indication of overall third-quarter strength in the economy. I continue to expect strong readings (near 60) for both manufacturing and service companies.Monday’s report on new orders for durable goods should continue to show the outlook for the economy remains strong.It is best to ignore Tuesday’s report on consumer confidence, which can be affected more by misleading news on Covid than economic insight.Wednesday’s report from the Fed on its latest policy decisions could be informative The Fed has indicated it will rein in its purchases of securities long before raising interest rates. Look for the Fed to begin hedging on when it will curtail purchases of securities.Thursday’s report on second quarter GDP will likely show rapid growth similar to that of the first quarter.Friday’s report on June’s consumer spending, incomes, and inflation will show strength in all categories at the end of the second quarter. Market Forces For the third consecutive week, stock prices were mixed.The Nasdaq and Nasdaq 100 led with gains of 1%. The S&P500 was slightly higher; the Dow slightly lower and small caps were mixed.The S&P […]
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker