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 BibleThe Greatest Lesson

Mark 8:36 (NKJV)

Larry Adkinson authored this issue’s devotional. He served the Lord alongside his wife for more than 50 years.

Having reached the ripe old age of 80, I feel like my senior friends when they say, “A lot of water has run under the bridge,” but through it all, God has been good.

I grew up in a family of six children with loving parents. We were very poor, but I didn’t know it at the time. My mother was the head of the home and took great care to teach us right from wrong. She taught us many important life lessons.

In the summer, we would pick flowers, and whoever found the first violet would be the violet king or queen. When she made biscuits, she would take her wedding ring off and hide it in one of them. Then we had to eat slowly, and whoever found the ring got to be king or queen for the day.

Life was simple but hard. We walked three miles to school, and our clothes were not as good as the other kids’. One of the greatest lessons the Lord ever taught me came from a school Christmas party. We were all given Kool-Aid, candy and popcorn, and just as everything was beginning to unfold, my brothers and sisters and I were told to get our coats because we were going to be carried home. Oh no, I thought. Why, in the midst of the party, were we snatched up and taken home? We were loaded into three cars and given a waxed paper cone of popcorn. Was all this because we were poor kids? How unfair!

When we arrived home, we were taken inside as the adults began to unload groceries from the cars — more food than I had ever seen, all because someone saw a need and did something about it, much like the wonderful people of Mission:Dignity. A pastor friend gave our names to those people, and because of the goodness of their hearts, I realized that life is more than a cone of popcorn.

Looking back, I see how God used the kindness of others to meet our needs and teach us what truly matters. As Mark 8:36 reminds us, “For what will it profit a man if he gains the whole world, and loses his own soul?” (NKJV) All the world’s treasures pale in comparison to our heavenly reward.

How can you show generosity to someone in need this week, even in a small way?

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


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Across the Markets

Equity markets advance
  • U.S. equities moved higher in the holiday-shortened week, led by large-cap technology stocks.
  • The S&P 500® gained 1.8%, while the Russell 2000® declined 0.4%.
  • The S&P 500® finished the second quarter up nearly 15%, with analysts anticipating another quarter of strong earnings growth.
Technology stocks lead gains
  • Apple®, Alphabet® and Meta® helped drive market performance.
  • Software stocks outperformed, while semiconductor shares pulled back following a strong quarter as investors reassessed AI-related opportunities.
Yields rise while oil holds steady
  1. The 10-year Treasury yield increased to approximately 4.49% from 4.37% the prior week.
  2. Gold posted a modest gain while the U.S. dollar weakened slightly.
  3. WTI crude oil remained near $68 per barrel as Middle East supply concerns continued to ease.

Global equities move higher

  • Global equities generally advanced as easing energy prices and reduced geopolitical concerns supported sentiment.
  • Lower oil prices helped ease inflation concerns across many import-dependent economies.
Europe benefits from cooling inflation
  • European equities moved higher during the week.
  • Eurozone inflation slowed to 2.8% from 3.2%, reducing expectations for additional policy tightening.
Japan and China deliver mixed results
  • Japanese equities were mixed as bond yields moved higher and the yen remained volatile.
  • Chinese markets produced mixed results despite manufacturing activity improving into expansion territory.
  • China’s central bank added liquidity through overnight reverse-repurchase operations.

In the Economy

Labor market growth slows
  • The U.S. economy added 57,000 jobs, below expectations of 110,000.
  • Payroll revisions lowered April and May employment by a combined 74,000 jobs.
  • The unemployment rate edged down to 4.2% as labor force participation declined.
Economic data sends mixed signals
  • ADP payroll data came in below expectations, while job openings exceeded forecasts.
  • Markets interpreted the employment report as supportive of a less restrictive Federal Reserve outlook.
  • Manufacturing remained in expansion at 53.3, while consumer confidence fell to 91.2.

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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 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 PMI® (Purchasing Managers’ Index) is an indicator of the prevailing direction of economic trends in the manufacturing and service sectors. The indicator is compiled and released monthly by ISM® (Institute for Supply Management), a nonprofit supply management organization. It is a diffusion index that summarizes whether market conditions are expanding, staying the same, or contracting, as viewed by purchasing managers.

The Consumer Confidence Index® measures consumer attitudes and confidence regarding their financial prospects. The Index is issued by the Conference Board and is based on the Consumer Confidence Survey®. It measures and compares how consumers view the overall economy, business conditions, and labor market presently and over the next six months.