Commentary • Feb 24, 2026

Weekly Macro Minute

Share:
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 BibleGod’s Miracle Medicine

Proverbs 17:22 (KJV)

Paul Leftrick authored this issue’s devotional. He served the Lord for 45 years.

Proverbs 17:22 (KJV) says: A merry heart doeth good like a medicine: but a broken spirit drieth the bones.

The Misery of a Heavy Heart

A heavy heart burdens the soul. The great Christian hymn entitled “Leave it There” tells us to take our burden to the Lord and leave it there. When man’s heart (soul) is heavy, it affects the body. Proverbs 12:25 (KJV) says: Heaviness in the heart of man maketh it stoop.

The Mastery of a Heavy Heart

God has given us good medicine to master the misery of a heavy heart; it is a merry, joyful heart. The seat of that joy is the heart. John 15:11 (KJV) says: “These things have I (Jesus) spoken unto you, that my joy might remain in you, and that your joy might be full.”

The Ministry of a Healthy Heart

God does not give us his joy and strength so we can serve the devil, but that we would serve him in ministry. This joy is to be sought as it is not automatic. You can have medicine in the cabinet, but you must take it. To have Christ in your heart is to have joy, and that joy is strong medicine. 1 Peter 1:8 (KJV) says: …ye rejoice with joy unspeakable and full of glory.

Proverbs 15:13 (KJV) says: A merry heart maketh a cheerful countenance (face). If you have joy in your heart, it ought to show on your face. Do you know the reason you are so tired? It takes more muscles to frown than to smile. This joy is to be shared. We need to share with a lost world that real joy and happiness are found in the Lord Jesus Christ. This is God’s miracle medicine: A merry heart doeth good like a medicine.

If you have never given your life to Christ, you are missing an unimaginable joy. I ask you to seek the Lord Jesus and ask him to come into your heart and save you. He will not turn you away. Isaiah 55:6-7 (KJV) says:

Seek ye the Lord while he may be found, call ye upon him while he is near: Let the wicked forsake his way, and the unrighteous man his thoughts: and let him return unto the Lord, and he will have mercy upon him; and to our God, for he will abundantly pardon.

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

Across the Markets

Equities rise on tariff ruling relief

  1. U.S. equity markets finished the holiday-shortened week higher, supported by improved sentiment following the Supreme Court’s decision to overturn portions of the Trump administration’s global tariffs.
  2. S&P 500® advanced 1.1%, while Russell 2000® gained 0.7%.

Rates move modestly higher

  1. Treasury yields edged up amid mixed economic data showing softer growth but persistent inflation pressures.
  2. The 10‑year Treasury yield rose three basis points, ending the week at 4.08%.

Oil prices surge on geopolitical risk

  1. WTI crude climbed 5.4% for the week, closing above $66 per barrel.
  2. Rising U.S.–Iran tensions and increased U.S. military presence in the Middle East heightened supply concerns.

Europe reaches new highs

  1. European equity markets collectively rose to a new all-time high as earnings expectations improved.

Japan sees softer growth, easing yields

  1. 10‑year JGB yield declined to approximately 2.10% as fiscal concerns eased following Prime Minister Sanae Takaichi’s election victory.
  2. Fourth quarter GDP grew just 0.2% annualized, well below expectations, driven by weak private consumption.

China quiet amid holidays

  1. Mainland markets were closed for the Lunar New Year.
  2. Hong Kong markets slipped during the shortened week.

In the Economy

Federal Reserve minutes signal hawkish pause

  1. January FOMC minutes showed rates held at 3.50%–3.75% amid a divided committee.
  2. Some officials favored additional cuts due to labor market cooling, while others stressed upside inflation risks.

Q4 growth disappoints

  1. Fourth quarter 2025 real GDP grew just 1.4% annualized, well below expectations of 2.5%–3.0%.
  2. Weakness stemmed largely from reduced government spending tied to the prolonged federal shutdown, along with softer consumer spending and exports.

Inflation remains elevated

  1. Core PCE (ex. food and energy) rose 3.0% in 2025, underscoring a challenging growth‑inflation mix and limiting near‑term policy flexibility.

Tariff policy shifts rapidly

  1. The Supreme Court ruled that the International Emergency Economic Powers Act did not provide sufficient authority for most second-term tariffs.
  2. President Trump responded by implementing a new global tariff under Section 122 of the Trade Act of 1974, initially set at 10% and later raised to the 15% maximum allowed for 150 days.

Subscribe to the Weekly Macro Minute

Tags:
Investments
Our Funds US EquityNon-US EquityFixed IncomeReal Assets/AlternativesImpactTarget Date FundsTarget Risk Funds
About Us Impact InvestingOur HistoryOur Team
Faith-Based Investing Our Approach
Advisor Resources
Insights CommentaryNews & MediaPodcast
ProspectusTax InformationFund LiteraturePrivacy Policy

© 2026 GuideStone Funds®. All rights reserved.

Call Toll Free: 1-888-GS-FUNDS

5005 LBJ Fwy., Suite 2200, Dallas, TX 75244

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 West Texas Intermediate (WTI) Crude Oil Index is a benchmark in oil pricing, representing the price of oil extracted in the United States, primarily from Texas and surrounding areas. WTI is widely used in the oil futures market for trading and contract settlements. The Index reflects the spot and futures prices for WTI crude oil as traded on the New York Mercantile Exchanges (NYMEX).

The Personal Consumption Expenditures (PCE) Price Index is a measure of the prices that people living in the United States, or those buying on their behalf, pay for goods and services. The PCE price index is known for capturing inflation (or deflation) across a wide range of consumer expenses and reflecting changes in consumer behavior.