Read Time: 5 min 49 sec | Listen to Podcast

ECONOMY

Tariffied Markets

Wall Street has had a rough week.

In an interview on Sunday, President Trump didn’t rule out a recession; instead, predicting a “period of transition” as his policies take effect. Commerce Secretary Lutnick pushed back, insisting Americans should “absolutely not” brace for a recession and framing tariffs as part of a broader economic strategy that will bring American prosperity.

Investors were still spooked; Monday was the Nasdaq’s worst day since 2022.

The stock sell-off continued yesterday amid more trade uncertainty. Ontario’s premier—the leader of Canada’s most populous province—implemented (then paused) a 25% electricity surcharge on 1.5 million U.S. homes and businesses in retaliation for U.S. tariffs. President Trump re-retaliated by threatening (then unthreatening) to double tariffs on Canadian steel and aluminum from 25% to 50%. The Dow closed down 1.1%.

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Verse to consider whether the broader economy is struggling or thriving… “Don’t neglect to do what is good and to share, for God is pleased with such sacrifices.” 
Hebrews 13:16 (CSB) (read full passage)

WORLD

War and Diplomacy

Ukraine is ready to accept a U.S.-proposed 30-day ceasefire with Russia.

U.S. Secretary of State Marco Rubio said the offer for a complete ceasefire—“to stop the shooting and start talking”—is now in Russia’s court. The Trump Administration simultaneously announced it has resumed sharing military aid and intelligence with Ukraine.

For now, the battle rages on. Before dawn on Tuesday, Ukraine launched its largest long-range drone bombardment of the war, killing three and injuring at least 18 others near Moscow. Meanwhile, Russian forces are retaking ground in Kursk, the region invaded by Ukraine in August.

Back on the home front, Rubio announced an audit of USAID—the agency responsible for distributing billions in foreign aid—is complete, leaving 83% of programs cut and the rest under State Dept. oversight.

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CHRISTIAN RESPONSE
War is a heavy burden that impresses upon us our world’s need for restoration. Jesus came to bear that burden of sin, lighten our load, and restore our world. Pray that Eastern Europe would experience that restoration and glorify Jesus. 

“Come to me, all of you who are weary and burdened, and I will give you rest. Take my yoke upon you and learn from me, because I am lowly and humble in heart, and you will find rest for your souls. For my yoke is easy and my burden is light.” 
Matthew 11:28–30 (CSB) (read full passage)

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POLITICS

Brawlin’ on a Budget

Congress is working to avoid a government shutdown (again). 

Saturday, House Republicans proposed a bill to fund Washington for the next six months, including a less-than-expected bump in funding for defense and veteran’s health care, new funds for immigration enforcement, and budget cuts for just about everything else. 

The “continuing resolution”—a temporary spending solution—has gained support from some Republicans who typically vote against temporary funding. Meanwhile, Democrats have expressed opposition to the six-month barebones bill, arguing that it creates less security for federal programs that have already experienced recent cuts. 

Yesterday, the bill passed the House in a narrow 216-214 vote. Now it’s up to the Senate to keep the Hill’s lights on; they have until 11:59 p.m. Friday to pass the bill, which needs at least 60 yeses.

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CHOOSE HUMILITY
It’s easy to throw stones at Congress… But how are the budget conversations at your own house? In all your discussions, demonstrate faith and contentment in Christ through patience and compromises that outdo one another in showing honor and love.

“Love one another deeply as brothers and sisters. Take the lead in honoring one another.” 
Romans 12:10 (CSB) (read full passage)

A former Facebook executive is blowing the whistle on Meta’s attempts to scale China’s Great Firewall, alleging that Meta developed a content censorship tool and offered to share user data with the Chinese government in exchange for access to its billion-plus-user market. Meta denies the claims, saying it’s “no secret we were once interested” in the Chinese market but decided against it. 
 

A Portuguese container ship collided with a U.S.-flagged oil tanker anchored off England’s eastern coast Monday, igniting fires and forcing both crews to abandon ship. Of 36 crew members, one remains unaccounted for after search-and-rescue efforts were “unsuccessful.” Yesterday, a 59-year-old man was arrested on suspicion of gross negligence manslaughter in connection with the collision.
 

U.S. fighter jets were scrambled to investigate a civilian aircraft violating airspace restrictions over Mar-a-Lago—the 20th violation this year. Officials said the jets fired attention-getting flares and urged pilots to check flight restrictions. Meanwhile, Sunday, Secret Service shot and critically injured an armed man near the White House; President Trump was in Florida at the time.
 

Elon Musk’s companies are on the other side of the “Trump Bump.” Tesla shares plunged another 15% Monday, with sales decelerating amid customer protests of DOGE cuts; President Trump said he’d buy a Tesla in solidarity. Monday also saw X outages, which Musk attributed to a “massive cyberattack” by “a coordinated group and/or country.”
 

Southwest is taking a turn northeast… baggage fees are cleared for takeoff. The airline is abandoning its decades-long brag that “bags fly free.” Starting May 28, only top-tier loyalty members, business class flyers, and Southwest credit card holders will dodge the fee. This checked change comes on the tail of the airline also grounding its no-assigned-seats policy.

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