The US markets ended mostly in green on Thursday. Dow Jones Industrial Average still managed to reach a new record closing high. Strength among semiconductor stocks supported the markets for much of the session before a late-day pullback, although the Philadelphia Semiconductor Index still ended the day up by 1.0 percent. The strength in the sector came after Taiwan Semiconductor Manufacturing Company (TSM) reported a sharp increase in third quarter profits. The strong results from TSMC offset concerns about the outlook for semiconductor demand following a warning from Dutch chipmaker ASML (ASML) earlier in the week. Besides, positive sentiment was also generated in reaction to a batch of largely upbeat U.S. economic data, including a Commerce Department report showing retail sales increased by slightly more than expected in the month of September.
The Commerce Department said retail sales rose by 0.4 percent in September after edging up by 0.1 percent in August. Street had expected retail sales to rise by 0.3 percent. Excluding sales by motor vehicle and parts dealers, retail sales climbed by 0.5 percent in September after rising by 0.2 percent in August. Ex-auto sales were expected to inch up by 0.1 percent. Meanwhile, a separate report released by the Labor Department showed an unexpected pullback by first-time claims for U.S. unemployment benefits in the week ended October 12th. The report said initial jobless claims fell to 241,000, a decrease of 19,000 from the previous week's revised level of 260,000. Street had expected jobless claims to inch up to 260,000 from the 258,000 originally reported for the previous week.
Dow Jones Industrial Average rose 161.35 points or 0.37 percent to 43,239.05 and Nasdaq gained 6.53 points or 0.04 percent to 18,373.61, while S&P 500 was down by 1 points or 0.02 percent to 5,841.47.
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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