Rian Howlett , Karen Friar and Ines Ferré of Yahoo Finance report the Dow, S&P 500, Nasdaq close mixed to cap a volatile week as Fed cut in doubt:

US stocks recovered from earlier losses on Friday, battling back from Wall Street's steepest sell-off in over a month as investors await more economic data in the coming days ahead of the Federal Reserve's next rate decision in December.

The Dow Jones Industrial Average (^DJI) slipped around 0.6%. But the S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) came back from being deeply in the red, with the S&P falling below the flatline, and the Nasdaq gaining 0.1%.

Wall Street's previous bruising session saw the major indexes log their sharpest one-day declines in over a month. Tech stocks saw their earlier losses shrink mid-morning Friday after AI concerns drove an exodus from riskier assets to less hotly valued sectors. Still, Tesla (TSLA) shares remained under pressure and broke below $400 before going green. Nvidia (NVDA) shares also rebounded to turn positive.

Bitcoin (BTC-USD) also continued to suffer, falling below $96,000 for the first time in over six months. The cryptocurrency is down over 20% from its peak in October.

The mood is unsettled as worries grow that the Federal Reserve will slow its pace of policy easing, given the increasingly hawkish tone taken by its officials. Traders now see less than 50% odds of a quarter-point rate cut next month, down from about 95% a month ago. Minneapolis Fed president Neel Kashkari became the latest to lose appetite for rate cuts as he flagged "resilience" in the US economy and continued concerns over inflation.

Policymakers lack insight into price pressures as well as the jobs market after the record six-week federal shutdown. On Friday the Bureau of Labor Statistics said the September jobs report will be released next Thursday, Nov 20. 

In a nod to price pressures, President Trump is preparing to make substantial cuts to tariffs to bring down high food costs, a concern for voters in recent state and local elections. Several trade deals with Argentina, Brazil, and other Latin American countries also aim to make the likes of bananas and coffee more affordable.

The recent sell-off is not a 'tech wreck', but an 'AI reckoning'

Tech's recent sell-off hasn't changed the long-term thesis on AI, says one Wall Street strategist.

"What’s happened recently in the market isn’t even close to a tech wreck, but it may be a bit of a tech reckoning," said Daniel Skelly, head of Morgan Stanley's Wealth Management Market Research & Strategy.

"Given how much AI-related stocks have rallied in recent months, some retrenchment is perfectly normal," he added. "The recent volatility hasn’t altered the longer-term bullish case for the AI leadership."

Skelly said health care remains one of the market’s key overlooked stories.

"Even though it’s been the S&P 500’s strongest sector over the past three months, valuations are still attractive."

The S&P 500 Health Care ETF (XLV) has rallied 10% since late September. Year-to-date its up 10%.

Sean Conlon and Pia Singh of CNBC also report the Nasdaq closes higher, snapping three-day losing streak as tech stocks recover some ground:

The Nasdaq Composite rebounded on Friday as investors bought up shares of key technology stocks a day after the group led Wall Street to its worst day in more than a month.

The tech-heavy Nasdaq gained 0.13% to finish at 22,900.59, snapping a three-day losing streak. The S&P 500 finished near the flatline, down just 0.05% at 6,734.11, while the Dow Jones Industrial Average lost 309.74 points, or 0.65%, to settle at 47,147.48. The three indexes bounced back significantly from their lows earlier in the day, which had the Nasdaq and S&P 500 down 1.9% and about 1.4%, respectively. The Dow had fallen almost 600 points, or roughly 1.3%.

The tech trade gained some ground after coming under pressure in recent days. Leading artificial intelligence players Nvidia and Oracle both reversed course from their losses seen in the previous session, as did Palantir Technologies and Tesla, both of which saw a drop of more than 6% in the prior day. The Technology Select Sector SPDR Fund (XLK) closed up 0.5% on Friday, making up some of its 2% decline from Thursday.

Major U.S. indexes on Thursday posted their worst one-day performance since Oct. 10. The 30-stock Dow lost about 800 points, taking back gains seen in Wednesday’s session when it crossed the 48,000 level. The Nasdaq plummeted more than 2%, as technology giants came away battered.

“We’re kind of switching back and forth between this risk-on [and] risk-off type of a trade,” said Brian Mulberry, client portfolio manager at Zacks Investment Management. “I think people are looking to maybe reposition going into the end of the year, into 2026, just knowing the concentration that most people have built up because of the solid performance from these technology companies.”

“There will be somewhat of a floor, I think, in this volatility. We just expect that you’ll probably have more of these 1% to 2% moves up and down till close to the end of the year just as people reposition and de-risk their portfolios,” he also said.

After the week’s wild swings, Nasdaq ended down 0.5% for the period. However, both the S&P 500 and the Dow held on to gains, up 0.1% and 0.3%, respectively.

Concerns about the AI trade have emerged more seriously this week, with the recent wipeout in once-hot cloud stock Oracle further spooking investors about elevated tech valuations, a massive surge in debt financing and soaring AI capex plans. To be sure, Oracle’s growth is uniquely more reliant on its cloud deal with OpenAI and the company has far less cash compared to hyperscalers.

“AI is truly testing the limits of Wall Street spreadsheets right now,” David Krakauer, vice president of portfolio management at Mercer Advisors, told CNBC, adding that investors pricing in “so much of this future growth that they really can’t measure yet” just spurs an “environment of swings.” “The valuations are so stretched, and any little movement in expectations on either profits or interest rates is going to have a bigger and bigger effect.”

Mounting unease about the Federal Reserve’s upcoming interest rate decision exacerbated the existing pressure on the market this week. Traders are now pricing in a less than 50% chance that the central bank will cut its benchmark overnight borrowing rate by a quarter percentage point during their December meeting, which is lower than the 62.9% likelihood that markets priced in earlier this week and 95.5% chance a month ago, per the CME FedWatch Tool.

Investors are counting on another rate cut in December to revive the economy, as well as risk-taking on Wall Street. But some Fed members are growing concerned that inflation is too sticky to warrant another rate decrease this year.

The U.S. government shutdown, which was the longest in history, ended Wednesday evening after stretching on for more than six weeks. That development had been expected to end a period of time where investors were operating without important economic data. Instead, it has raised new questions. White House press secretary Karoline Leavitt suggested that some economic data that was due out during the impasse might never be released.

This week was mostly a continuation of last week when tech shares got clobbered.

Will the Fed cut again? My money is on "yes" but that's not what is driving the market now. 

As I stated last week, November 15th is when 13Fs for funds become available and you always see this volatility right before positions are made public.

You had a huge run-up in so many AI related stocks that it's only normal to see a pullback.  

And all this volatility is exactly what large hedge funds crave, they can buy the dips going into year-end.

What are they buying? I'm pretty sure they loaded up on Oracle shares at the open today:

When you see an intraday reversal like that on a Friday, something is up. That company reports earnings on December 8th so keep an eye on it.

But not all AI stalwarts are feeling the love. Meta shares are down almost 20% in the last 2 weeks after it reported as investors ask "where's the AI beef?":

 

The concern is hyperscalers like Meta are spending way too much on AI, data centers, and not producing the AI revenues yet.

Whenever I see these big dips, I see them more as an opportunity to buy quality growth stocks at a discount.

It doesn't mean the share price can't go lower as the weekly chart remains bearish but I'm not in the camp that the AI bubble is over, at least not yet.

Don't forget, over 80% of portfolio managers are underperforming this year, so FOMO will kick in, all it takes is one good week and these stocks will rip higher.

What about Christmas 2018? Can we get another disaster like that? It's possible but unlikely, the Fed learned its lesson back then.

Anyway, as I stated above, 13Fs all become available next week, I'll be covering top funds' quarterly activity and I'm always suspicious when I see downside volatility before they become public.

One thing I can share with you is Warren Buffett’s Berkshire Hathaway revealed a new position in Alphabet, making the Google parent the conglomerate’s 10th largest equity holding at the end of September, according to a regulatory filing:

Berkshire disclosed a $4.3 billion stake in Alphabet at the end of the third quarter, a surprising move given Buffett’s traditional value investing philosophy and reluctance toward high-growth, tech names. While Berkshire has owned Apple for years, Buffett has called it more of a consumer products company than a pure tech play.

The purchase was also likely made by Berkshire investment managers Todd Combs or Ted Weschler, who have been more active in technology names. One of them initiated an investment in Amazon back in 2019, and Berkshire still owns $2.2 billion worth of the e-commerce shares.

Alphabet has been the market’s standout winner this year with shares rallying 46%. Strong demand for artificial intelligence has driven solid momentum in Alphabet’s cloud business.

Buffett previously admitted that he “blew it” by failing to invest early in Google even though he had insight into its advertising potential. Berkshire’s auto insurance unit Geico was an early customer of Google, paying the search engine 10 bucks every time someone clicked on the ad at the time.

“I had seen the product work, and I knew the kind of margins [they had],” Buffett said in 2018. “I didn’t know enough about technology to know whether this really was the one that would stop the competitive race.”

Google shares recently hit a 52-week high before the latest tech selloff. It's fair to say they will likely be among the big AI winners once this is all over. From a trading perspective, this is a good move (shares are up 4% after the close after Berskshire made the disclosure).

Alright, let me end by sharing this week's top performing US large cap stocks and the worst-performing ones (see full list here and here): 

 

Below, Tom Lee, Fundstrat, joins 'Closing Bell' to discuss what's happening with the crypto trade, if crypto treasuries become more favored than the actual crypto and much more.

Next, Requisite Capital’s Bryn Talkington and Northwestern Mutual’s Matt Stucky join 'Closing Bell' to discuss the latest news affecting markets.

Third, Paul Hickey, Bespoke Investment Group co-founder, joins 'Power Lunch' to discuss the recent equity market action, why the air left some of the megacap tech stocks and much more.

Fourth, 'Fast Money' traders talk their takeaways from this week's market action.

Lastly, Jeff Kilburg, KKM Financial founder, joins 'The Exchange' to discuss Kilburg's thoughts on recent equity selloffs, the two other stocks Kilburg favors and much more.

Mathieu Dion of Bloomberg News reports Quebec premier pushes Caisse to invest at home:

Quebec Premier Francois Legault said he wants the province’s pension fund to invest more locally, including making bets in the manufacturing sector, as Canada adjusts to a new reality of U.S. trade barriers.

The Caisse de Depot et Placement du Quebec, Canada’s second-largest pension manager, is planning to have $100 billion of its funds invested in the French-speaking province by next year — about 20 per cent of its current net assets and a similar proportion to the previous year. But it’s not enough for Legault, who has been running the province since 2018.

A new “ambition target” will be set for 2030, according to a document entitled “Quebec Power: Answer to a New World Context” that describes his economic vision.

“The Caisse de depot is doing more than it did seven years ago, but they need to do even more,” Legault said during a presentation Monday, adding that the government is discussing the issue with the institution’s management.

In an interview with Montreal-based news outlet La Presse, he went further, saying La Caisse must take “calculated risks” in sectors such as manufacturing and critical minerals.

La Caisse, which had $496 billion under management as of June, has a dual mandate to produce returns and contribute to Quebec’s economic development, but the law establishing it states that it must act independently.

“We clearly have a competitive edge here — we know the market, we know our companies and we can deploy capital across the full spectrum of financing solutions,” a spokesperson for La Caisse said in an emailed statement.

“That said, investing the hard-earned money of Quebecers means we must keep responsibility front of mind. We need businesses to launch projects that benefit the economy and at the same time help protect and grow Quebecers’ retirement savings.”

Legault’s nationalist party, the Coalition Avenir Quebec, has collapsed in public opinion polls about a year before a likely provincial election. The premier is now attempting a series of policy moves to try to boost the party’s popularity, including a controversial battle to make doctors more productive and now a broad vision for economic growth. 

What a lovely topic to discuss on hump day.

What are my thoughts on Legault's idea to push La Caisse to invest more in our province to bolster "Quebec Power"?

To be blunt, just like his party's new health care initiative headed by current health minister and former La Caisse senior executive Christian Dubé, c'est de la bullshit tabernac!  (it's bullshit goddamn it!).  

Why in God's name is Quebec's government forcing La Caisse which already invests more than any other large Canadian and global pension fund right in its own backyard to invest more in Quebec?

Because we are going to counter Donald J. Trump's stupid tariffs and win? Are you kidding me? 

This is precisely the reason why I hate when politicians interfere with pension funds, they have no clue whatsoever and they typically make a bad situation much worse with their asinine policies.

Let the experts at La Caisse decide how much to invest in Quebec and how much to invest globally. 

No doubt, their Quebec portfolio headed by Kim Thomassin has done well over the last 5 years but if we head into a global recession, watch out, that portfolio is going to get dinged hard! 

I 100% guarantee a bad outcome if La Caisse invests more in Quebec than it has already pledged.

I have no problem with La Caisse's dual mandate but let's not lie to Quebec's population contributing their hard earned money to this organization, there's an opportunity cost investing more in Quebec.

More investments in Quebec means less investments globally at a time when great opportunities will arise at the global level. 

In other words, if there are better opportunities in the US, Europe and Asia, why invest more in Quebec? To make Quebec's billionaires a lot wealthier? (most of whom got huge help from La Caisse)

Yes, we ave good businesses in Quebec, I don't have a problem investing in companies we know and understand, but give me a break with this "Quebec Power" nonsense, we are nothing compared to the global economy and the sooner we realize this, the better off we will be over the long run.

In short, when it comes to investing in Quebec or co-investing alongside strategic partners like KKR, Blackstone and many others in incredible global deals, hands down I would choose the latter.

And La Caisse does both well, so let them do their job and stop interfering with their investment policy, you are going to bungle it up just like "la loi 2" is going to bungle up Quebec's healthcare.

The optics of this is terrible, makes La Caisse look like an extension of the Quebec government.

La Caisse is not Investissements Quebec or Hydro Quebec, it has to have independent governance or else you will weaken the organization and make it the laughingstock on the Maple 8 funds. 

But Legault and Dubé don't get it, they will learn the hard way when voters kick them out of office.

My message to politicians is simple: "stay in your lane and let experts decide where to invest hard earned pension contributions."

Lastly, to our dear health minister, you might have had a great reputation at La Caisse but you sir will go down in history as the worst health minister Quebec has ever known. Point final. (watch, I predict Legault will eventually throw Dubé under the bus)

Freschia Gonzales of Benefits and Pensions Monitor reports Canada opens door to airport privatization, sparking pension fund interest: 

Canada’s airports are valued in the billions and generate over $120bn in annual economic output, supporting nearly 436,000 jobs.  

According to the Financial Post, the federal government is now signaling openness to privatization and new private-sector partnerships, which may soon lead to a dramatic shift in airport ownership and investment opportunities. 

The latest federal budget, the first from Prime Minister Mark Carney, states that the government will “consider options for the privatization of airports” and explore “new ways to attract private sector investment,” as reported by the Financial Post.  

This move is part of a broader strategy to unlock more economic potential from Canada’s airports and to jump-start private investment in nation-building infrastructure projects.  

The government’s initial steps include negotiating lease extensions with not-for-profit airport authorities, enabling more economic development on airport lands, and reviewing ground lease rent formulas. 

The groundwork for these initiatives was laid in the previous government’s economic update, which appointed former Bank of Canada governor Stephen Poloz to lead a task force focused on boosting domestic investment by large pension funds.  

However, as per the Financial Post, earlier policy statements had stopped short of explicitly endorsing privatization, despite previous studies and reports, such as the 2016 Credit Suisse valuation commissioned by the Trudeau government. 

Industry experts see renewed potential in this approach. 

“It’s encouraging that the government is open to airport privatization, as private investors, including Canadian pension funds, can provide the capital needed for airport improvements and expansions,” said Andras Vlaszak, director in global infrastructure advisory at KPMG Canada, as cited by the Financial Post. 

Vlaszak noted that such a move could allow the government to recycle capital into higher-growth projects. 

The government has also committed to direct investment in airport infrastructure, allocating $55.2m over four years, plus $15.7m ongoing, to support safety-related projects at local and regional airports, according to the Financial Post.  

This funding, delivered through the Airports Capital Assistance Program, includes a priority runway extension at the Îles-de-la-Madeleine Airport. 

Despite these efforts, private investment in airport development has so far been muted.  

In March, Transport Canada outlined ways for private investors to participate in airport land development, such as commercial subleases and minority stakes in share-capital subsidiaries.  

Some pension officials view these measures as positive, but others maintain that only a controlling stake would meet their investment criteria.  

Canadian pension funds, including the Ontario Teachers’ Pension Plan Board, the Caisse de dépôt et placement du Québec, and PSP Investments, have a history of investing in international airports and have expressed interest in expanding their domestic infrastructure portfolios, as reported by the Financial Post. 

The evolving landscape for Canadian airports comes at a time when trade diversification and new economic realities are reshaping the country’s infrastructure needs.  

As noted by the Financial Post, airports are central to Canada’s growth and trade diversification, and the current environment presents significant opportunities for institutional investors to play a pivotal role in the sector’s future.  

So, will the federal government finally privatize Canadian airports allowing Canada's large pension funds to invest?

I hope so and have been openly advocating for doing so but some experts have contacted me privately telling me they're not convinced it's going to happen.

Why? Basically airports are cash cows for the federal government, generating huge revenues every year and they have hardly invested in them over the last ten years (never mind the REM extension at Montreal's airport).

One expert shared this with me:

From the government perspective, airports are a very lucrative perpetuity. It’s guaranteed revenues with 0 expense. The government made very little investment in the 1930, 40’s and some in the 50’s, bar YMX in the 70’s. Then all the improvements were done by LAA’s (local airport authorities) since 1992, still the government is cashing 12% on gross revenue. What’s the value of that, no cash down, no debt, no improvement cost and $0.12 for every dollar of airport revenue. And on top of this, assets have to be maintained at state of the art standard. The plus value is through the roof when you look at the investments made in YVR, YYC, YEG, YYZ,YUL and smaller airports. 

If this expert's figures and assertions are right, it helps explain the reluctance of the federal government to partially or fully privatize airports.

Still, my argument is if the government knows how much revenues airports are generating, it can easily ascribe a value to those future cash flows and sign a super long-term lease with pension funds to control them.

Of course, in a fair and transparent bidding process, it would need to open this up to international funds as well and that can create political backlash.

There are many details to be ironed out before the federal government can move forward to privatizing airports, and as the article states pension funds prefer controlling interests.

And our airports might generate a lot of revenues but they're not in good shape.

Take Montreal's Trudeau airport, it's a complete embarrassment. 

One expert shared this:

YUL is indeed a shamble because improvements have been reduced to minimum and judged too expensive, now, no matter how rich any investor is, rebuilding YUL to be an airport again will take years and years, because the magnitude of the project is overwhelming…. Ground side access plans were drawn in the early 2000 and kept on being postponed and postponed. Soon enough, ground side improvement is going to be like LHR R3

I agree, I'd shut down Montreal's airport and build residential housing there and I'd move to reopen Mirabel airport. Unfortunately, it's too late, and I fear we we are stuck with this abomination of an airport for better or for worse.

Running airports is no easy business, Canadian pension funds use an operating company to do it for them and their investments in airports is only as good as the expertise in those operating companies.

For example, one expert shared this with me on PSP and its airports operator, Avi Alliance:

The platform PSP has in place means that PSP is the financial partner and Avi Alliance is the operating partner. PSP can appoint board members but these board appointments are external experts because PSP doesn’t have the knowledge in house. The problem with these platforms is that they work just fine as long as additional capital is allocated over time. A maturing plan and/or other asset allocation decisions lead to friction as a partner like Avi Alliance would like to continue to grow. Infrastructure is still in demand but I have seen this happening with other platforms. I am not sure whether the government thinks about this, but perhaps they should. By the way, I am not saying that the pension funds should not take over these assets; quite the opposite, these brownfield assets fit their mandate well.

Lots of great insights surrounding this discussion and I look forward to seeing if the federal government does move ahead to finally partially or fully privatize airports. 

I remain hopeful but skeptical and need to see the details in writing.

Below, Airports aren’t just runways and terminals—they’re bustling business hubs designed to generate revenue from multiple streams. In this video, we dive into the airport business model, exploring how airports earn money from landing fees, passenger charges, retail concessions, parking, and more.

Discover the strategies behind airport pricing, how airlines and passengers help drive profits, and the challenges airports face in today’s competitive travel industry. Whether you're a frequent flyer or simply curious about the business of air travel, this video will give you an inside look at what makes airports tick.

The Great Adventure Bible Timeline offers a comprehensive guide to understanding the biblical narrative, connecting key events, people, and themes to deepen spiritual growth and appreciation of Scripture.

1.1 Overview of the Timeline

The Great Adventure Bible Timeline is a visually engaging and organized framework that maps the entire biblical narrative from creation to the Second Coming of Christ. It presents the Bible as a single, cohesive story, highlighting the interconnectedness of events, people, and themes across both the Old and New Testaments. The timeline is divided into 12 periods, each representing a major era in salvation history, such as the Early World, the Patriarchs, Moses and the Exodus, and the Life of Jesus Christ. Key events, such as the creation of the world, the flood, the giving of the Ten Commandments, and the resurrection of Jesus, are prominently featured. The timeline also incorporates color coding, symbols, and concise summaries to enhance understanding and retention. This structure makes it an invaluable resource for both individual and group Bible study, helping users grasp the “big picture” of Scripture and deepen their faith.

1.2 Purpose of the Great Adventure Bible Timeline

The primary purpose of the Great Adventure Bible Timeline is to provide a clear and organized framework for understanding the Bible as a unified story. It aims to help individuals and groups connect the events, people, and themes of Scripture in a chronological and meaningful way. By presenting the Bible as a single narrative, the timeline seeks to deepen spiritual growth, foster a greater appreciation for God’s plan of salvation, and make the Bible more accessible to readers of all ages and backgrounds. It serves as a tool for both personal reflection and communal study, enabling users to see how every part of the Bible fits into the larger story of God’s relationship with humanity. This purpose is central to its design, making it an invaluable resource for anyone seeking to enrich their faith and understanding of Scripture.

What is the Great Adventure Bible Timeline?

The Great Adventure Bible Timeline is a visual study aid that organizes the Bible chronologically, revealing its overarching narrative and connections between events, people, and themes.

2.1 Key Features of the Timeline

The Great Adventure Bible Timeline is designed to enhance biblical understanding through its unique features. It presents the Bible in chronological order, connecting events, people, and themes seamlessly. The timeline is divided into 12 color-coded periods, each highlighting a distinct phase of salvation history. Key events, such as creation, the exodus, and the life of Jesus, are prominently displayed. It also includes symbols and markings to distinguish between different types of biblical content, such as doctrinal highlights, liturgical references, and historical context. Additionally, the timeline aligns with Catholic teachings, incorporating Church history and the lives of saints. These features make it an invaluable tool for both individual and group Bible study, providing a clear and engaging visual framework for exploring Scripture.

2.2 Structure of the Timeline

The Great Adventure Bible Timeline is structured chronologically, dividing the biblical narrative into 12 distinct periods. Each period is color-coded for easy visual organization, helping users trace the progression of salvation history. The timeline begins with creation and moves through major events like the early world, the patriarchs, Moses and the Exodus, the Kingdom of Israel, the Prophets, and culminates with the life of Jesus Christ. It also extends into the early Church and the spread of Christianity. This linear design allows users to see how events, people, and themes interconnect. The structure emphasizes the unity of Scripture, making it easier to understand the flow of God’s plan. By organizing the Bible in this way, the timeline provides a clear framework for studying and reflecting on the entirety of God’s Word in a coherent and engaging manner.

2.3 How the Timeline Differs from Other Bible Study Tools

The Great Adventure Bible Timeline stands out by providing a visually engaging, chronological framework that connects biblical events, people, and themes seamlessly. Unlike traditional study tools that often focus on isolated verses or theological explanations, this timeline emphasizes the big picture of salvation history. Its color-coded, 12-period structure enhances organization and memory, making complex biblical narratives more accessible. Additionally, it is uniquely designed for both individual and group study, fostering collaborative learning and discussion. The timeline also integrates historical and cultural context, offering a deeper understanding of the Bible’s setting. Its visual and structured approach makes it particularly appealing to visual learners and those new to Bible study, setting it apart from more text-heavy resources. This tool’s focus on the overarching story of Scripture provides a holistic understanding that complements other study methods, making it a valuable addition to any Bible study routine.

Historical Context of the Bible Timeline

The Great Adventure Bible Timeline situates biblical events within their historical settings, connecting the narrative to the ancient world and enhancing understanding of Scripture’s cultural and temporal context.

3.1 The Biblical Timeline: A Chronological Overview

The Great Adventure Bible Timeline presents a chronological overview of biblical events, beginning with creation and continuing through the early patriarchs, the exodus, the period of judges, the united and divided kingdoms, the prophets, the Babylonian exile, the return to Jerusalem, and the intertestamental period. It then transitions into the New Testament era, detailing the life of Jesus Christ, the apostolic age, and the early Christian church. This structured approach allows readers to grasp the flow of events and understand the interconnectedness of key moments in salvation history. By organizing the Bible in chronological order, the timeline provides a clear framework for studying Scripture, making it easier to see how different events and figures contribute to the overarching narrative of God’s plan effectively.

3.2 Historical Accuracy and Relevance

The Great Adventure Bible Timeline is meticulously researched to ensure historical accuracy, aligning with archaeological findings and scholarly consensus. This attention to detail helps bridge the gap between historical events and biblical narratives, enhancing the understanding of Scripture’s context; By placing events in their chronological order, the timeline provides a clear and coherent framework for studying the Bible. This historical relevance makes the timeline an invaluable resource for both personal and group study, allowing users to appreciate the depth and richness of the biblical story. It also aids in connecting the dots between prophecy and fulfillment, and understanding the cultural and geographical settings of key events, which is essential for a comprehensive grasp of the Bible’s message.

3.3 Cultural and Geographical Background

The Great Adventure Bible Timeline provides a rich cultural and geographical context, essential for understanding the biblical narrative. By highlighting the customs, traditions, and locations central to Scripture, the timeline helps users appreciate the diverse settings in which biblical events unfolded. This includes insights into ancient civilizations, such as the Israelites, Egyptians, and Babylonians, as well as the significance of key regions like the Promised Land, Mesopotamia, and the Mediterranean. Understanding these cultural and geographical elements enhances the reader’s ability to connect with the stories and teachings of the Bible. The timeline also illustrates how geography influenced the movements and interactions of biblical figures, offering a deeper appreciation of God’s plan as it unfolds across time and place.

Using the Great Adventure Bible Timeline Effectively

The Great Adventure Bible Timeline helps users navigate the biblical narrative effectively, connecting key events and themes to enhance understanding, engagement, and spiritual growth through the Scripture.

4.1 Step-by-Step Guide to Navigating the Timeline

Navigating the Great Adventure Bible Timeline begins with identifying the main sections or periods, such as Creation, the Patriarchs, or the Kingdom of Israel. Start by locating key events like the Exodus or the birth of Jesus. Use the color-coded sections to distinguish between different eras or themes. Next, focus on the flow of events chronologically, connecting stories and their significance. Pay attention to symbols or icons that highlight important moments or teachings. For deeper understanding, cross-reference the timeline with Scripture passages. Finally, explore practical applications, such as using the timeline for personal study, group discussions, or teaching others. By following these steps, users can effectively engage with the biblical narrative and enhance their spiritual journey.

4.2 Practical Applications for Bible Study

The Great Adventure Bible Timeline is a versatile tool for enhancing Bible study. Individuals can use it to organize their reading, trace biblical themes, and connect Old and New Testament events. Teachers and leaders can incorporate the timeline into lesson plans, making complex narratives accessible to students. It also serves as a visual aid for sermon preparation, helping to illustrate the flow of salvation history. For group studies, the timeline fosters engaging discussions by providing a shared framework for understanding. Additionally, it can be used to create personalized study plans, focusing on specific periods or themes. By integrating the timeline into daily devotionals or family Bible time, users can deepen their faith and appreciation for Scripture. Its practical applications make it an invaluable resource for anyone seeking to enrich their biblical knowledge and spiritual growth.

4.3 Tips for Using the Timeline in Group Settings

Using the Great Adventure Bible Timeline in group settings can enhance collaborative learning and engagement. Begin by introducing the timeline’s structure and key features to ensure everyone understands its layout. Encourage group members to follow along as you navigate through the timeline together, highlighting connections between events. Assign small groups to explore specific periods or themes, fostering deeper discussion and shared insights. Utilize the timeline’s visual format to resolve questions about biblical chronology and emphasize the unity of Scripture. Incorporate activities like mapping events or identifying patterns to keep sessions interactive. Encourage participants to share personal reflections or how the timeline has deepened their understanding. For larger groups, consider projecting the timeline digitally to ensure visibility. Finally, set clear goals for each session, such as focusing on a particular era or theological theme, to maximize the group’s learning experience.

Benefits of the Great Adventure Bible Timeline

The Great Adventure Bible Timeline enhances biblical understanding by revealing the chronological flow of Scripture, fostering deeper spiritual growth and appreciation of God’s plan throughout history, inspiring a lifelong journey of faith;

5.1 Enhanced Understanding of Scripture

The Great Adventure Bible Timeline revolutionizes Scripture study by presenting the Bible in a clear chronological framework. This visual tool helps users grasp the sequence of events, connecting key figures, and themes across the Old and New Testaments. By organizing the narrative in a linear and accessible manner, the timeline bridges gaps between seemingly disconnected stories, revealing the cohesive plan of salvation. This structure not only simplifies complex biblical history but also highlights the unity of Scripture, making it easier to understand God’s overarching plan. Users gain a deeper appreciation for how every event, from creation to the Second Coming, contributes to the grand story of redemption. This enhanced understanding fosters a more meaningful and transformative engagement with the Word of God.

5.2 Spiritual Growth Through Chronological Study

Engaging with the Great Adventure Bible Timeline fosters profound spiritual growth by revealing the unfolding story of God’s plan. Chronological study allows believers to trace the progression of divine promises and their fulfillment, deepening faith and trust in God’s sovereignty. This approach illuminates the interconnectedness of biblical events, enhancing one’s understanding of spiritual truths and their application in daily life. As users journey through the timeline, they encounter a cohesive narrative that strengthens their relationship with God, leading to a more meaningful and transformative walk of faith. Furthermore, this method encourages personal reflection and communal discussion, enriching the spiritual journey and fostering a deeper connection with Scripture. It also enhances prayer and worship by providing a historical and theological context for praising God’s faithfulness.

5.3 Educational Value for All Ages

The Great Adventure Bible Timeline is an invaluable educational resource for learners of all ages, offering a clear and engaging way to explore Scripture. Its chronological structure simplifies complex biblical events, making it accessible to children, teenagers, and adults alike. For younger learners, the timeline provides a visual and interactive approach to understanding the Bible’s narrative, fostering early spiritual curiosity and knowledge. For older students and adults, it serves as a comprehensive study aid, enhancing deeper theological understanding and appreciation. The timeline’s versatility makes it an excellent tool for homeschooling, Sunday school, or personal study, ensuring that everyone can benefit from its insights. By aligning with various learning styles and educational goals, the Great Adventure Bible Timeline becomes a cornerstone for faith-based education, equipping individuals with a lifelong foundation for biblical literacy and spiritual growth.

Stories and Case Studies

The Great Adventure Bible Timeline transforms Bible study through inspiring stories and real-life applications, bringing Scripture to life for believers of all ages and backgrounds, enriching faith communities and individual spiritual journeys.

6.1 Real-Life Applications of the Timeline

The Great Adventure Bible Timeline has proven to be a transformative tool in real-life scenarios, helping individuals and groups connect biblical events to their everyday lives. Many users have shared how the timeline has deepened their understanding of Scripture, making it more relatable and accessible. For instance, it has been used in personal devotionals to trace the journey of faith, in family studies to teach children about biblical history, and in community groups to foster deeper discussions. The timeline’s visual layout allows users to see the “big picture” of God’s plan, enabling them to appreciate how their own stories fit into His larger narrative. This practical application has empowered believers to live out their faith with greater purpose and clarity, bridging the ancient text with modern life.

6.2 Testimonies from Users of the Timeline

Many users of the Great Adventure Bible Timeline have shared inspiring stories of how it has transformed their Bible study. One user remarked, “The timeline has made Scripture come alive for me, connecting the dots between Old and New Testament events in a way I never saw before.” Another testified, “It has reignited my passion for reading the Bible, helping me see the big picture of God’s plan.” Families have also benefited, with one parent sharing, “Using the timeline with my children has made Bible study engaging and meaningful for all of us.” Study groups have reported deeper discussions and a greater sense of community. These testimonies highlight how the timeline bridges ancient text with modern life, fostering a deeper connection to faith and Scripture.

6.3 How the Timeline Has Transformed Bible Study Groups

The Great Adventure Bible Timeline has revolutionized Bible study groups by providing a clear, chronological framework that enhances collaboration and understanding. Leaders can now guide discussions with confidence, ensuring everyone follows the narrative flow. Members appreciate how the timeline connects events, making complex stories easier to grasp. This shared visual tool fosters unity, as everyone literally “sees” the same big picture. Engagement has increased, with participants actively tracing connections between prophecies and fulfillments. The timeline also encourages deeper reflections, sparking meaningful conversations about faith and life applications. Overall, it has become an indispensable resource, enriching group studies and fostering a sense of community centered on Scripture.

Resources and Tools Complementing the Timeline

The Great Adventure Bible Timeline is supported by various resources, including study guides, digital tools, and video series, all designed to enhance your biblical understanding and engagement.

7.1 Where to Download the Great Adventure Bible Timeline PDF

The Great Adventure Bible Timeline PDF is readily available for download through the official website of the program. Simply visit the site, navigate to the resources section, and follow the prompts to access the PDF. This comprehensive guide provides a detailed chronological overview of the Bible, making it an invaluable tool for personal or group study. Ensure you download from authorized sources to guarantee authenticity and quality. The PDF format allows for easy printing or digital use, enabling you to integrate it seamlessly into your Bible study routine. By downloading the Great Adventure Bible Timeline PDF, you’ll gain a clearer understanding of Scripture’s historical flow and its relevance to your faith journey.

7.2 Supplementary Materials for Deeper Study

Supplementary materials for the Great Adventure Bible Timeline PDF are designed to enhance your study experience. These include detailed study guides, workbooks, and reading plans that align with the timeline. Additional resources such as maps, charts, and historical summaries provide deeper insights into biblical events. Audio and video companions offer further explanations and reflections, while online courses and webinars delve into specific themes. These materials cater to both individual and group study, making them versatile for all learners. They are available on the official website and through authorized retailers, ensuring accessibility for those seeking a richer understanding of Scripture. By utilizing these supplementary materials, you can explore the Bible’s historical and spiritual dimensions more thoroughly, enriching your faith journey.

7.3 Digital Tools and Apps for Enhanced Learning

Digital tools and apps complement the Great Adventure Bible Timeline PDF, offering interactive and immersive ways to engage with Scripture. These resources include mobile apps, online platforms, and multimedia content designed to enhance your study experience. Features like zoomable timelines, searchable scripture references, and note-taking capabilities make it easier to explore biblical events in depth. Additionally, some apps provide audio and video resources, such as lectures or devotionals, to deepen understanding. These tools are accessible on various devices, allowing you to study anywhere, anytime; They also cater to different learning styles, making Bible study more engaging and effective. Regular updates and new features ensure the content stays relevant and fresh. By leveraging these digital tools, you can maximize your learning and spiritual growth with the Great Adventure Bible Timeline.

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Pablo Mayo Cerqueiro and William Mathis of Bloomberg report Canada Pension Plan to raise $1.36 Billion in EDP share sale: 

The Canada Pension Plan Investment Board, one of the world’s largest pension funds, is set to raise about €839 million ($1.359 billion) from the sale of its 5.4 per cent stake in Portuguese energy company EDP SA.

CPPIB will price the sale at €3.729 ($6.04) each, the bottom of the marketed range, in an overnight placing arranged by Goldman Sachs Group Inc., according to terms seen by Bloomberg News. The offering of about 225 million shares was multiple times oversubscribed at that level, the terms show.

China Three Gorges Corporation is EDP’s top shareholder with 21.4 per cent of capital with Oppidum Capital S.L. holding 6.82 per cent and Blackrock Inc 6.08 per cent, according to the utility’s website.

Shares in EDP fell 9.7 per cent last week after it reported lower profit and narrowed its guidance for the full year. The company announced a new strategic plan to spend €12 billion ($19.44 billion) between 2026 and 2028 to expand its wind and solar energy projects as well as power networks in Iberia.  

So what is this all about? Exactly four years ago, CPP Investments reached 5% qualified shareholding in EDP:

Lisbon, December 10th, 2021: Pursuant to the terms and for the purposes of articles 17 and 244 of the Portuguese Securities Code and of the CMVM Regulation no. 5/2008, EDP - Energias de Portugal, S.A. (EDP) is providing the following information to the market:

On December 9th, 2021, Canada Pension Plan Investment Board (“CPPIB”) notified EDP, in accordance with article 16 of the Portuguese Securities Code, that it had reached a qualified shareholding correspondent to 5.0116% of EDP’s share capital and of the respective voting rights, directly held. The 5% threshold was crossed by such company on December 3rd, 2021. Previously CPPIB’s overall position was 2.0094%.

Information regarding the chain of controlled undertakings and voting rights is disclosed in the attachment.

EDP – Energias de Portugal, S.A. 

A year later, EDP Renewables and Engie’s joint venture partnered with CPP Investments to develop a floating offshore project in California:

London, UK, 9th December 2022 – Ocean Winds (OW) and the Canada Pension Plan Investment Board (CPP Investments), through their 50/50 offshore wind joint venture Golden State Wind, were awarded a 32,500 hectares lease area by the U.S. Bureau of Ocean Energy Management (BOEM) in the Morro Bay area off the central coast of California.

The lease area awarded is one of five sites off the coast of California that was the subject of an auction held by the U.S. Bureau of Ocean Energy Management (BOEM). This auction is particularly notable as it is the first floating offshore wind lease sale in the country, and the first offshore wind lease sale of any kind, on the West Coast.

OW is already developing around 4GW of offshore project in the Northeast of the U.S., Mayflower Wind off the New England coast, and Bluepoint Wind off the New York and New Jersey coasts. The latest is the project being developed out of the seabed lease area awarded during the New York Bight auction earlier this year.

Bautista Rodriguez, CEO of Ocean Winds said: “As a pioneer in floating offshore wind and firm believer in its capabilities to produce large capacity of clean energy and create local opportunities around the world, Ocean Winds is very proud to have been awarded a new project during this first floating offshore wind auction in the U.S. We are committed to bringing the country and California closer to meeting their clean energy goals, while building a new domestic industry, creating jobs, and boosting the local economy.”

Ocean Winds has more than 10 years of experience in floating offshore wind, most notably through the development and operation of Windfloat Atlantic, the world’s first fully commercially operational floating offshore wind farm. OW has a substantial portfolio of floating projects in Europe and South Korea and is ideally positioned to bring this technology to the Golden State.

When fully built out and operational, Golden State Wind’s lease area can accommodate approximately 2 GW of offshore wind energy, generating enough energy to power the equivalent of 90000 homes. This will bring the U.S. and California closer to meeting their clean energy goals of 15 GW of floating offshore wind generation by 2035 in the U.S. and 5 GW by 2030 in California – building a new domestic industry, creating jobs for Californians, and boosting the local economy.

As part of OW and CPP Investments’ winning bid, Golden State Wind committed to invest in workforce development and supply chain initiatives and to work closely with key local stakeholders to maximize the benefits to California from the emerging offshore wind industry. 

I invite you to read more about Golden State Wind here. Let me give you the gist of it:

Golden State Wind is a joint venture of Ocean Winds (OW) and Reventus Power, managed by OW.

OW is a global offshore wind company with more than 10 years of experience in the floating offshore wind sector. Created as a 50/50 joint venture of EDP Renewables and ENGIE, OW develops, builds, and operates offshore wind farms in communities around the world, based on our belief that offshore wind energy is an essential part of the global energy transition. OW, headquartered in Madrid, currently has 17 offshore wind projects in 8 countries and our total portfolio of offshore wind gross capacity in operation, under construction, or in advanced development is currently 18.8 GW. For more information, please visit www.oceanwinds.com. 

Reventus Power originates and invests in the development and long-term management of offshore wind projects globally. As a portfolio company of CPP Investments’ Sustainable Energies group, Reventus invests flexibly, and at scale, across the asset lifecycle. Reventus invests alongside strategic partners, bringing deep in-house technical, financial, and commercial expertise to projects across three continents. The team is proven in delivering value through the realisation of high quality offshore wind projects around the world. For more information, please visit www.reventuspower.com/.

In 2023, CPP investments bet big on green hydrogen, making a 130 million euro ($143 million) investment and the purchase of a majority stake in a three-year-old Dutch firm, Power2X.

Power2X's current projects include a green hydrogen and ammonia development in Portugal and a solar power and green hydrogen project in Spain. 

At the time, Portugal's largest utility EDP and oil and gas company Galp Energia were both planning to build green hydrogen plants in the same industrial hub of Sines. 

Why am I sharing all this with you?

Because EDP is huge and so is EDP Renewables in North America. 

Clearly CPP Investments made a strategic investment in this company to strengthen ties team up with them on joint ventures so their Sustainable Energy Group which was created back in 2021 can benefit from their expertise.

CPP Investments is now selling its 5.4% stake in EDP, raising $1.35 billion.  

Interestingly, Goldman is taking care of the transaction which was oversubscribed, which shows you there is strong investor interest in EDP.

I wouldn't read too much into this sale, all part of CPP Investments' portfolio management.

They're raising liquidity to invest in other opportunities. 

Below, During Capital Markets Day, on November 6th,EDP presented its strategic roadmap for the coming years, reinforcing its commitment to delivering clean, affordable, and secure energy to communities across the globe. With decades of experience in the renewables sector, EDP will continue to invest in more resilient grids, flexible clean technologies, and digital innovation—driving sustainable value for customers, partners, and shareholders.

Also, EDP Renewables North America LLC (EDPR NA), its affiliates, and its subsidiaries develop, construct, own, and operate wind farms, solar parks, and energy storage systems throughout North America. Headquartered in Houston, Texas, with 58 wind farms, 10 solar parks, and eight regional offices across North America, EDPR NA has developed more than 9,400 megawatts (MW) and operates more than 8,400 MW of onshore utility-scale renewable energy projects. 

With more than 1,000 employees, EDPR NA’s highly qualified team has a proven capacity to execute projects across the continent. Very impressive firm. 

Trump is straining the capacity of the federal government to meet its obligations to Tribal Nations and communities. This began even before the ongoing shutdown, with the administration’s persistent attacks on funding and eligibility requirements for basic needs programs. Two years ago, we wrote about how the enduring effects of colonialism and state-sanctioned violence produce disproportionate burdens of poverty for American Indian and Alaska Native (AIAN) families and children. Recent poverty statistics released by the Census Bureau for 2024 show that these families and children continue to remain disproportionately vulnerable to material shortcomings. This persistent experience with economic insecurity has also left AIAN families and children exposed to hunger and with limited access to health insurance and care.

The relentless attack of the Trump-Vance administration on basic needs programs, access to data, and economic equity will harm the well-being of Native families and children even more. This is evident when we examine the impact of the administration’s cuts to vital programs like Medicaid and SNAP. The ongoing government shutdown threatens to further exacerbate the gaps in the provision of quality services that Native communities rely on for their health and nutritional needs.

Poverty continues to disadvantage AIAN children and their families

More than 1 in 6 (16.6%) AIAN children continued to live under the poverty line last year. This figure has remained statistically unchanged since 2022 (see Figure A) and is much higher than it was in 2021 when fewer than 1 in 10 AIAN children wrestled with poverty. The big difference in the numbers from 2021 and 2022 was due to pandemic relief efforts like the enhanced Child Tax Credit (CTC), which helped thousands of AIAN families with children meet their basic needs and avoid material shortcomings. But these gains for AIAN families and children were short lived. By 2022, AIAN child poverty rates climbed again, more than doubling after the expiration of the expanded social safety programs.

The situation of these economically vulnerable families and children has not changed since then and is only likely to deteriorate further with the historic cuts to basic needs programs (like Medicaid and SNAP) that the Trump-Vance administration passed this year. These cuts will disproportionately harm economically vulnerable families of color, such as AIAN families who are more likely than their peers to have a parent or child with a disability and who are still recovering from the impact of the last two recessions.

Figure A Native families are more likely to suffer food insecurity than their peers

Early this year, we wrote about the rising threat of food insecurity for families of color. The persistent experience of AIAN families with poverty leaves them disproportionately affected by these concerns surrounding their ability to meet the nutritional needs of their household. Between 2016 and 2021, for example, AIAN households recorded a much higher prevalence of food insecurity relative to other groups (see Figure B). During this period, nearly 1 in 4 (23.3%) AIAN families struggled with food insecurity, compared with fewer than 1 in 10 (8%) white households.

Figure B

The situation of AIAN parents is even worse. During the six-year period referenced, more than 1 in 4 AIAN households with children under 18 (27.8%) and families with children under 6 (27.4%) did not feel secure in their ability to provide their families with an adequate and balanced diet. Irrespective of the characteristics of the household, AIAN families are significantly more likely than all families to struggle with food insecurity.

This disadvantage will likely compound in the years ahead as the Trump-Vance administration cuts funding for the Department of Agriculture (USDA), further restricts eligibility for programs like SNAP, and limits public access to crucial data about hunger. This year, for example, Trump’s USDA canceled the country’s leading survey that helps us understand the magnitude and severity of hunger and food insecurity in the U.S., on the grounds that it was “redundant” and “politicized.”

Lack of access to health insurance leaves Native communities disproportionately vulnerable to an early death

The well-being of Native communities is also threatened by lack of access to health insurance. Relative to peers, AIAN individuals suffer the highest uninsured rate in the U.S. Nearly 1 in 5 (18.9%) AIAN individuals (amounting to more than half a million people) lacked access to health insurance last year (see Figure C). While the Affordable Care Act (ACA) helped reduce the uninsured rate for AIAN individuals (nearly 3 in 10 AIAN individuals lacked health insurance in 2010), disparities in access have persisted over the years. Compared with their non-Hispanic white peers, AIAN people have been more than twice as likely to lack access to health insurance in just the last decade. These inequities also translate into disparities in life expectancy. AIAN men and women, for example, record a lower life expectancy at birth than their peers. Trump’s attacks on public health agencies, their personnel, research infrastructure, and programs for the needy threaten to exacerbate these disparities for years to come. 

Figure C The Trump-Vance administration has weakened the agencies and programs that help the U.S. meet its obligations to Native communities

In less than a year, the Trump-Vance administration has weakened every aspect of the U.S. social safety net that helps AIAN families and children escape poverty, hunger, and disease. Trump began his second term by cutting staffing and funding for public health agencies and programs. By April 2025, the administration had reduced the Department of Health and Humans Service by more than 20%. Trump’s attack on equity also targeted workplace safety regulations and the broader research infrastructure for public health that works to identify and address the structural barriers that yield and widen racial and ethnic disparities in health. 

To top this off, Trump’s most significant legislative achievement this year delivered historic cuts to health programs (like Medicaid and CHIP) that are estimated to strip 10 million people of their health insurance coverage by 2034. More than 1 million AIAN individuals rely on Medicaid and CHIP. While AIAN individuals will be exempt from the new Medicaid work requirements, public health experts have warned that cuts to the program can widen gaps in tribal health services and disparities that already exist due to chronic federal underfunding of AIAN communities.

Trump’s major legislative achievement this year also weakened SNAP, the country’s most important nutritional assistance program. In FY 2023, more than 500,000 AIAN households relied on SNAP to meet their nutritional needs and avoid deeper economic insecurity. Trump’s reconciliation legislation from this summer is estimated to impact the benefits of millions of SNAP recipients. While pre-existing work requirements exemptions partially mitigate the harmful impact of Trump’s law on AIAN individuals, the phasing out of culturally relevant initiatives (such as SNAP-Ed) and cuts to the broader program weaken an important vehicle through which the U.S. delivers its obligations to Native communities.

In addition, beginning on November 1 of this year, the Trump-Vance administration has been denying access to SNAP benefits to millions of people due to the administration’s unwillingness to use SNAP’s contingency reserve funds during the government shutdown. In doing so, the administration is removing a critical safety net for Native American tribes and for over 1 in 5 Native American households more broadly.

States with some of the largest Native American populations are also states with higher overall population shares participating in SNAP. Oklahoma and New Mexico have some of the highest Native populations and more than 16% of their population receive SNAP benefits. Native Americans living in Oklahoma, on reservations, and other designated areas may be able to continue to receive food assistance through the Food Distribution Program on Indian Reservations (FDPIR). However, that program may face constraints due to additional demand and is not accessible for many Native people who do not live near federally recognized tribes that participate in FDPIR.

With every step this year, the administration has weakened the capacity of the federal government to meet the needs of Native communities. And families and children are being hurt in the process because they are disproportionately vulnerable to costly disparities in poverty, food insecurity, and health care access.