The US markets ended lower on Thursday as traders seemed reluctant to make significant moves ahead of the release of the Labor Department's highly anticipated monthly jobs report on Friday. Street currently expect the report to show employment rose by 140,000 jobs in September after climbing by 142,000 jobs in August, while the unemployment rate is expected to hold at 4.2 percent. The data could impact the outlook for the U.S. economy as well as expectations regarding how aggressively the Federal Reserve will lower interest rates. Besides, traders also kept an eye on the latest developments in the Middle East, where an escalating conflict has contributed to a sharp increase by the price of crude oil.
The Israel Defense Forces said around 100 projectiles were launched from Lebanon into Israel earlier today, while the IDF also said they have killed several Hezbollah commanders in a strike on a military structure in southern Lebanon. On the sectoral front, gold stocks saw substantial weakness on the day, dragging the NYSE Arca Gold Bugs Index down by 2.0 percent. The weakness in the sector came despite a modest increase by the price of gold. Significant weakness was also visible among airline stocks, as reflected by the 1.4 percent loss posted by the NYSE Arca Airline Index. Steel, networking and biotechnology stocks also showed notable moves to the downside, while energy stocks moved sharply higher along with the price of crude oil.
Dow Jones Industrial Average fell 184.93 points or 0.44 percent to 42,011.59, Nasdaq lost 6.65 points or 0.04 percent to 17,918.48 and S&P 500 was down by 9.6 points or 0.17 percent to 5,699.94.
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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