The US markets ended higher on Monday. After showing a strong move to the upside early in the session, markets gave back ground over the course of the trading day on Monday but managed to end the day mostly higher. The strength on markets comes amid a steep drop by the price of oil. Oil prices plunged after Israel's retaliatory attack against Iran over the weekend did not damage the Islamic republic's energy facilities. Meanwhile, traders were also looking ahead to the release of key U.S. economic data later in the week. The monthly jobs report as well as a report on personal income and spending that includes the Federal Reserve's preferred inflation readings are likely to be in the spotlight.
On the sectoral front, Airline stocks saw substantial strength on the day, with the NYSE Arca Airline Index soaring by 3.0 percent to its best closing level in over a year. Delta Air Lines (DAL) posted a standout gain after filing a lawsuit against CrowdStrike (CRWD) over the July outage that led to thousands of flight cancellations. Significant was also visible among steel stocks, as reflected by the 3.0 percent surge by the NYSE Arca Steel Index. Financial, computer hardware and biotechnology stocks also saw considerable strength, while energy stocks moved to the downside along with the price of crude oil.
Dow Jones Industrial Average rose 273.17 points or 0.65 percent to 42,387.57, Nasdaq gained 48.58 points or 0.26 percent to 18,567.19 and S&P 500 was up by 15.4 points or 0.27 percent to 5,823.52.
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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