MidSouth Week in Review: Jun. 16, 2015

Weekly Update from Fund Manager Buzz Heidtke, MidSouth Investment Fund

The S&P closed slightly up for the week. On Tuesday the Dow had a negative year-to-date close followed by its biggest one-day gain in more than a month. Mortgage rates rose above 4% for the first time this year with last week's rate increase being the largest since 2013. The Fed reported household net worth increased $1.6 trillion between January and March, which is about $16,000 per household. Hard to believe those numbers. The rise in the value of homes and the stock market, which was flat, were cited for the large household increase. Last week OPEC agreed to pump 30 million barrels a day but pumped 30.98 million barrels in May, which leads one to believe that supply may soon begin to overwhelm demand.