The US markets ended higher on Wednesday as traders remained optimistic about the strength of the U.S. economy ahead of the release of several key reports on Thursday. The advance by the Dow was partly due to a strong gain by Cisco Systems (CSCO), with the networking giant surging by 4.3 percent. However, markets showed a lack of direction early in the session on Wednesday. The choppy trading seen early in the day came amid some uncertainty about the near-term outlook for the markets on the heels of Tuesday's pullback. On the economic data front, reflecting a sharp drop by prices for fuel imports, the Labor Department released a report showing a continued decrease by prices for U.S. imports in the month of September.
The Labor Department said import prices fell by 0.4 percent in September after slipping by a revised 0.2 percent in August. The decline matched street estimates. Compared to the same month a year ago, import prices edged down by 0.1 percent, marking the first year-over-year decrease since February. The report also said export prices slid by 0.7 percent in September after slumping by a revised 0.9 percent in August. Street had expected export prices to fall by 0.4 percent. Export prices in September were down by 2.1 percent compared to the same month a year ago, reflecting the largest year-over-year decrease since January.
Dow Jones Industrial Average rose 337.28 points or 0.79 percent to 43,077.7, Nasdaq gained 51.49 points or 0.28 percent to 18,367.08 and S&P 500 was up by 27.21 points or 0.47 percent to 5,842.47.
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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