Weekly Macro Minute

James Vann authored this issue’s devotional. He served the Lord alongside his wife, Sherry, for 41 years.

And we know that all things work together for good to those who love God, to those who are the called according to His purpose. Romans 8:28 (NKJV)

I was raised in a textile mill village. Both my parents worked long, hard hours on different shifts. Although my mom was a very loving parent, my dad was emotionally distant. He never smiled. He never let anyone close to him. He often reminded me that it would be embarrassing if anyone saw me cry or show any emotion.

We never attended church, and he never mentioned God in any way until one day when I was 8 years old. While walking along a nearby creek bank, he stopped and stared at a tree on the other side. When I asked what he was looking at, he replied, “Now isn’t that something. Look at those small worms falling from that tree onto the water.” Fish gathered at that spot and grabbed each worm as it fell. He said, “God put that tree there just for the fish. That is really something!” He never mentioned God again.

As time went by, my dad continued to live in darkness. When I was 16 years old, I woke up on Christmas morning, and he was gone. He and my mom had a big argument the night before. I went to work to support my mom. After I became a Christian, I prayed that somehow the Lord would allow me to see him again and share the Gospel with him.

We went on with our lives, not knowing where he was, until a family member found out he was in the hospital with leukemia. I visited him in the hospital in a town over 200 miles away. That was the first time in 23 years I had seen him.

He asked if he could stay with us, since we lived in the church parsonage next door to the church where I was pastor. In the following weeks, church folks came by to befriend and pray for him. It was during our family Thanksgiving that he stunned everyone. He asked if he could say the blessing! He prayed, “Thank you, Lord, for my family and also for saving me.”

I thought about that worm tree years before and knew that God had saved my dad at just the right time and place. The Lord provided what he needed. We had some conversations about his mistakes, and he asked for my forgiveness.

I pastored small country churches for 45 years, and when I was placed on full disability with no retirement, Mission:Dignity was there to help at just the right time. My wife and I are grateful for their support. Looking back, I can see how God truly does work all things together for the good of those who love him. His timing is perfect.

How have you seen the truth of Romans 8:28 on display in your own life?

Equities retreat as energy prices and yields rise

• U.S. equities finished lower as escalating Middle East tensions pushed oil prices higher and renewed inflation concerns.
• The S&P 500^® fell 0.8%, while the Russell 2000^® declined 2.4%.
• Technology strength helped support major indexes, but broader market participation weakened considerably.

Sector breadth deteriorates

• Eight of eleven S&P 500^® sectors finished lower for the week.
• Energy led gains as crude prices surged, while Communication Services also advanced.
• Health Care and Materials were among the weakest-performing sectors.

Treasury yields continue climbing

• Treasury yields moved higher across the curve as inflation concerns, heavy issuance and Federal Reserve expectations pressured fixed-income markets.
• The 10-year Treasury yield rose to 4.97%, while the 2-year climbed above 4.63%.
• Markets ended the week pricing in a high probability of a September Fed rate hike.

Oil extends rally on geopolitical tensions

• Crude prices surged for a second consecutive week as conflict expanded beyond the Strait of Hormuz into the Red Sea.
• Disruptions to regional energy infrastructure and shipping routes amplified supply concerns.
• Prices eased slightly late in the week on reports of planned diplomatic discussions.

European markets pressured by energy concerns

• European equities declined as the energy shock continued to weigh on growth expectations.
• The European Central Bank raised rates by 25 basis points while warning of continued inflation risks.

U.K. growth surprises positively

• U.K. economic growth exceeded expectations in July, supported by strength in services and technology-related industries.

Japanese equities fall ahead of policy meeting

• Japanese stocks declined as a stronger yen and expectations for Bank of Japan tightening weighed on sentiment.
• Bond yields continued rising, and economists broadly expect further policy action.

Chinese markets move lower

• Chinese equities declined despite continued strength in exports.
• Hong Kong markets underperformed broader regional indexes during the week.

Inflation data supports rate hike expectations

• August CPI showed headline inflation holding at 3.4% year-over-year while monthly inflation accelerated to 0.4%.
• Core (ex. food and energy) inflation increased 0.3% for the month, above expectations and the fastest pace since April.
• Markets interpreted the data as reinforcing the likelihood of additional Fed tightening.

Producer prices accelerate on energy

• Headline PPI rose 0.4% in August and 5.4% year-over-year.
• Core producer inflation remained more contained but stayed elevated on an annual basis.

Consumer confidence weakens

• Consumer sentiment fell sharply for a second consecutive month.
• Rising fuel costs and trade concerns weighed on household outlooks.
• One-year inflation expectations increased to their highest level since June.