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The US markets ended mixed on Tuesday and S&P finally lost its five days winning streak. There were few earnings disappointment, while the European debt crisis once again came on a forefront after Greece's debt crisis hit a snag and weighed on the markets. The country was close to a default as the private creditors pleaded with European officials who rejected their bond swap offer to hammer together a deal. A deal is a key condition for Greece to receive additional bailout funds from the European Union and International Monetary Fund. On domestic front, Verizon Communications Inc, McDonald's Corp and Travelers Cos Inc were the biggest drags on the Dow after posting weak quarterly results.
Meanwhile, the Federal Open Market Committee began a two-day meeting on Tuesday, at the end of which policymakers will start a new practice of announcing their interest rate projections. The Fed is hopeful that the projections, to be released on Wednesday, will give markets and the public greater clarity about its decision-making.
The Dow Jones industrial average lost 33.07 points, or 0.3% to 12,675.75, the S&P 500 shed 1.35 points, or 0.10% to 1,314.65, while the tech-heavy Nasdaq managed to gain by 2.47 points, or 0.09% to 2,786.64.
The Indian ADRs closed mostly in green on Tuesday, HDFC Bank was up by 0.81%, ICICI Bank was up by 0.94%, Infosys was up by 0.78%, MTNL was up by 0.03% and tata motors was up by 0.27%.
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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