The US markets ended mostly higher on Tuesday. While the tech-heavy Nasdaq showed a notable advance to reach a new record closing high, the Dow closed lower for the sixth time in the past seven sessions. Sentiment got boost after the Conference Board released a report showing a substantial improvement by U.S. consumer confidence in the month of October. The Conference Board said its consumer confidence index surged to 108.7 in October after tumbling to a revised 99.2 in September. Street had expected the consumer confidence index to inch up to 99.1 from the 98.7 originally reported for the previous month. The Conference Board said the present situation index, which is based on consumers' assessment of current business and labor market conditions, spiked to 138.0 in October from 123.8 in September.
The expectations index, which is based on consumers' short-term outlook for income, business, and labor market conditions, also jumped to 89.1 in October from 82.8 in September, coming in well above the threshold of 80 that usually signals a recession ahead. However, the Labor Department released a report showing a decrease by job openings in the U.S. in the month of September. The report said job openings fell to 7.44 million in September from a downwardly revised 7.86 million in August. Street had expected job openings to edge down to 7.99 million from the 8.04 million originally reported for the previous month. Hires changed little over the month at 5.6 million, while the number of total separations was unchanged at 5.2 million, the Labor Department. Within separations, quits and layoffs and discharges were both little changed at 3.1 million and 1.8 million, respectively.
Nasdaq gained 145.56 points or 0.78 percent to 18,712.75 and S&P 500 was up by 9.4 points or 0.16 percent to 5,832.92, Dow Jones Industrial Average fell 154.52 points or 0.36 percent to 42,233.05.
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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