Market Rallies But Ends Week Flat

Support CASA Rutherford County with McKnight Advisory Group

This holiday season, McKnight Advisory Group is proud to support CASA Rutherford County, an organization that advocates for children in the foster care system. CASA provides trained volunteers who ensure each child's voice is heard during court proceedings, helping secure safe and permanent homes.

We're inviting the community to join our Toy Drive to support CASA. Your donation, whether it's a new, unwrapped toy ($20 or over) or a $25 gift card from Walmart or Target, will bring more than just a smile. It will bring joy and comfort to these children during the holidays.

Details:

• Deadline: December 2, 2024.
• Drop-off Location: McKnight Advisory Group Inc., 1800 S. Rutherford Blvd. Suite 202, Murfreesboro

Your contribution will help brighten a child's holiday season and show them their community cares.

1956 – Don Larsen’s Perfect Game

On October 8, 1956, New York Yankees pitcher Don Larsen made history by throwing the only perfect game in World Series history. In Game 5 against the Brooklyn Dodgers, Larsen retired all 27 batters without allowing a single player on base. His flawless performance led the Yankees to a 2-0 victory, cementing his place in baseball legend.

This incredible feat remains unmatched in the World Series, making Larsen's perfect game one of the most memorable moments in the sport's history.

Stocks Flat, Oil Spikes

Stocks were essentially unchanged last week as geopolitical tensions added some volatility to an otherwise quiet trading week.

The Dow Jones Industrial Average was flat (+0.09 percent), while the Standard & Poor’s 500 Index ticked up 0.22 percent. The Nasdaq Composite also was flat (+0.10 percent). The MSCI EAFE Index, which tracks developed overseas stock markets, was a bit more unsettled by the geopolitical events, dropping 3.74 percent.^1,2

Stocks posted modest gains on Monday, encouraged by upbeat comments in a speech by Fed Chair Jerome Powell. However, the modest gains pushed the S&P 500 and Dow to fresh records.³

As Middle East tensions escalated on the first day of October, stocks fell, bond yields rose, and oil prices rose as the news unfolded.⁴

On Wednesday, all three averages were flat. An ADP report showed higher-than-expected private sector job growth—a metric investors focus on. Oil prices continued to rise as investors watched the developments in the Middle East.^5,6

Then, on Friday, stocks rallied after the Labor Department’s September jobs report topped expectations.⁷

Welcome to the Benjamin Button Economy

The article "Welcome to the Benjamin Button Economy" by Jared Franz explains that the U.S. economy seems to be regressing from a late-cycle to a mid-cycle phase, which could help it avoid a recession. This "Benjamin Button" effect, influenced by post-pandemic labor market distortions, suggests that the economy might experience a prolonged period of growth, possibly avoiding a recession until 2028. The mid-cycle economy is expected to create favorable conditions for both stock and bond markets, with stocks potentially providing 14% annual returns. The article "Welcome to the Benjamin Button Economy" by Jared Franz explains that the U.S. economy seems to be regressing from a late-cycle to a mid-cycle phase, which could help it avoid a recession. 

You can read the full articlehere.

“You can’t judge right from looking at what’s wrong.”

– Bo Diddley

Apple Cider Doughnuts

Ingredients:

• 2 cups fresh apple cider (reduced down to ½ cup)
• 3 ½ cups all-purpose flour
• 2 teaspoons baking powder
• 1 teaspoon baking soda
• 1 teaspoon ground cinnamon
• ½ teaspoon ground nutmeg
• ¼ teaspoon ground cloves
• ½ teaspoon salt
• 4 tablespoons unsalted butter, melted
• 1 cup granulated sugar
• 2 large eggs
• 1 teaspoon vanilla extract
• ½ cup buttermilk
• Vegetable oil (for frying)
• ½ cup granulated sugar (for coating)
• 1 teaspoon ground cinnamon (for coating)

Directions:

1. Reduce the Cider: In a small saucepan, simmer the apple cider over medium heat until it reduces to about ½ cup. This intensifies the apple flavor. Let it cool to room temperature.

2. Prepare Dry Ingredients: In a medium bowl, whisk together flour, baking powder, baking soda, cinnamon, nutmeg, cloves, and salt.

3. Mix Wet Ingredients: In a large bowl, whisk together the melted butter, sugar, eggs, vanilla extract, buttermilk, and reduced apple cider until well combined.

4. Form Dough: Gradually add the dry ingredients to the wet mixture. Mix until a sticky dough forms. Cover the bowl with plastic wrap and chill the dough in the refrigerator for about 1 hour (this makes it easier to handle).

5. Shape Doughnuts: Roll out the chilled dough on a lightly floured surface to about ½-inch thickness. Use a doughnut cutter to cut out doughnuts (or use a round cutter with a smaller cutter for the center).

6. Heat the Oil: Heat about 2 inches of vegetable oil in a heavy-bottomed pot to 350°F (175°C).

7. Fry Doughnuts: Fry the doughnuts, a few at a time, for about 1-2 minutes per side or until golden brown. Use a slotted spoon to remove them from the oil and place them on a paper towel-lined plate to drain.

8. Cinnamon Sugar Coating: While still warm, toss the doughnuts in the mixture of sugar and cinnamon.

Modern Tip:

• Air Fryer Option: For a lighter version, you can also air-fry these doughnuts at 350°F for 8-10 minutes after brushing them lightly with oil, then coat them with cinnamon sugar.

In the early 1800s, the peaceful life of the Bell family in Adams, Tennessee, was disrupted by a series of mysterious and paranormal events, giving rise to the infamous Bell Witch haunting. The family experienced unexplained knocking sounds, eerie whispers, and objects moving independently, all attributed to an evil spirit known as the "Bell Witch." This evil entity specifically targeted John Bell and his daughter, Betsy, tormenting them relentlessly. Tragically, the witch claimed responsibility for John Bell's untimely death in 1820. Although the disturbances subsided over time, the legend of the Bell Witch cast a haunting shadow over the town, leaving its origins and motives shrouded in mystery.

Protect Your Financial Safety in Case of a Natural Disaster

No matter where you live, you should be aware of possible natural disasters in your area and plan accordingly by considering the following tax tips:

• Update your emergency plan.
  
  
• Create electronic copies of all important documents.
  
  
• Document your valuables. Documenting ahead of time makes it easier to claim insurance and tax benefits if a disaster strikes.
  
  
• You can call the IRS at 866-562-5227 with any natural disaster-related questions. The agency can provide copies of previous tax returns, order transcripts showing most line items, and more.
  
  
• Net personal, casualty, and theft losses may be deductible if attributable to a federally declared disaster.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.

Tip adapted fromIRS¹⁰

The Scale Isn't Everything: More-Comprehensive Ways to Measure Your Health

Put the scale away for a little while and try these techniques to focus on your overall health rather than just a number:

• Keep a journal and track your healthy habits, such as working out or eating veggies with every meal. Celebrate these small victories!
  
  
• Take progress photos and compare them throughout your journey. Take your pictures in the same pose, wearing the same outfit, at the same time every week (preferably in the morning before you’ve had breakfast).
  
  
• Check on other aspects of your health, such as your energy levels, skin, and tummy health. Developing a healthy routine does much more for your body than just lowering the number on the scale.

These are just a few ways to check in with yourself on your fitness and wellness journey without the scale.

Tip adapted from Daily Burn¹¹

I have rough skin and sometimes more than two eyes, but I can be tasty when prepared plainly and simply. Just what am I?

Last week’s riddle: What invention permits you to peer through any wall?
Answer:A window.

Hot springs, Dallol, Danakil Depression, Afar Region

Ethiopia, Africa

Footnotes and Sources

^{1.The Wall Street Journal, October 4, 2024}

^{2. Investing.com, October 4, 2024}

^{3.CNBC.com, September 30, 2024}

^{4.The Wall Street Journal, October 1, 2024}

^{5.The Wall Street Journal, October 2, 2024}

^{6.The Financial Times, October 3, 2024}

^{7. The Wall Street Journal, October 4, 2024}

^{8.The Wall Street Journal, October 2, 2024}

^{9.  The Wall Street Journal, October 4, 2024}

^{10. IRS.gov, July 24, 2024}

^{11. Daily Burn, July 24, 2024}