MidSouth Week in Review
October 28, 2024

Weekly Update from Fund Manager Buzz Heidtke, MidSouth Investment Fund

For the week the S&P was down 0.8% and for the year it is up 22.5%.  Mortgage rates climb north of 6.5% for the first time since August for a 30-year fixed mortgage tracking the 10-year Treasury making a high of 4.2% since July.  Gold and silver hit an all-time high for the year this week.  Gold is up 38.2% YTD and Silver is up 47.3% YTD.  The U.S. labor market strengthened in the weeks before Election Day, as job growth accelerated in September and the unemployment rate slipped to 4.1%.  Sources:  Wall Street Journal and New York Times

Homes - Home Sales on track for worst year since 1995.  September sales fell 3.5% from a year earlier.  In 2023, home sales hit their lowest point in 30 years – Wall Street Journal

Gen Z - 20% of men aged 24-34 are still living with their parents, compared to only 12% of women – Wall Street Journal

U.S. Debt - Each American will pay $3,593 in interest payments this year... on our national debt - Time

S&P - The S&P is up 6 weeks in a row for the first time this year.  51 other times it did this and stocks were higher a year later 86.3% of the times and up 11.1% on avg - Ryan Carson

1987 Crash - On Monday, October 19, 1987, the Dow fell 22.6% for the largest one-day drop in the more than 126-year history of the Dow - Carson Group

The material was prepared by MidSouth Investment Management LLC, and does not necessarily represent the views of the presenting party, nor their affiliates.  This information has been derived from sources believed to be accurate.  Please note – investing involves risk, and past performance is no guarantee of future results.  The publisher is not engaged in rendering legal, accounting or other professional services.  If assistance is needed, the reader is advised to engage the services of a competent professional.  This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.  This is neither a solicitation nor recommendation to put through a regular purchase or sell any investment or insurance product or service, and should not be relied upon as such.  This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results.  Investments will fluctuate and when redeemed may be worth more or less than when originally invested.  All economic and performance data is historical and not indicative of future results.  Market indices discussed are unmanaged.  Investors cannot invest in unmanaged indices.