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The US markets ended in green on Tuesday as treasury yields moved to the downside after an early advance, with the yield on the benchmark ten-year note falling to its lowest closing level in over a month. Traders kept an eye on remarks by Federal Reserve Chair Jerome Powell at the annual general meeting of the Foreign Bankers' Association. Powell said the central bank needs to be patient and let restrictive policy do its work, noting a lack of further progress on inflation during the first quarter. The Fed chief also said his confidence inflation will slow towards the 2 percent target is not as high as it was but reiterated he does not expect the next move to be a rate hike. On the sectoral front, Networking stocks moved sharply higher over the course of the session, driving the NYSE Arca Airline Index up by 3.0 percent to its best closing level in over a month.
On the economic data front, producer prices in the U.S. increased by more than expected in the month of April, according to a report released by the Labor Department. The Labor Department said its producer price index for final demand climbed by 0.5 percent in April after a revised 0.1 percent dip in March. Street had expected producer prices to rise by 0.3 percent compared to the 0.2 percent uptick originally reported for the previous month. The report also said the annual rate of producer price growth accelerated to 2.2 percent in April from a downwardly revised 1.8 percent in March. The year-over-year producer price growth was expected to inch up to 2.2 percent from the 2.1 percent originally reported for the previous month. The report also showed a significant rebound by energy prices, which shot up by 2.0 percent in April after tumbling by 1.3 percent in March.
Dow Jones Industrial Average rose 126.6 points or 0.32 percent to 39,558.11, Nasdaq gained 122.94 points or 0.75 percent to 16,511.18 and S&P 500 was up by 25.26 points or 0.48 to 5,246.68.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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