The US markets ended higher on Friday with Nasdaq settling gain of over 140 points. The rebound on markets partly reflected a positive reaction to upbeat earnings news from big-name companies like Intel (INTC) and Amazon (AMZN). Shares of Amazon also spiked by 6.2 percent after the online retail giant reported third quarter results that exceeded street estimates on both the top and bottom lines. Traders were digesting the Labor Department's closely watched report, which showed much weaker than expected job growth in the month of October. The Labor Department said non-farm payroll employment crept up by 12,000 jobs in October after jumping by a downwardly revised 223,000 jobs in September.
Street had expected employment to climb by 113,000 jobs compared to the surge of 254,000 jobs originally reported for the previous month. Meanwhile, the report said the unemployment rate came in at 4.1 percent in October, unchanged from September and in line with street estimates. On the sectoral front, Retail stocks moved sharply higher on the heels of the upbeat results from Amazon, driving the Dow Jones U.S. Retail Index up by 2.6 percent to a record closing high. Considerable strength was also visible among biotechnology stocks, as reflected by the 2.2 percent jump by the NYSE Arca Biotechnology Index.
Dow Jones Industrial Average rose 288.73 points or 0.69 percent to 42,052.19, Nasdaq gained 144.77 points or 0.8 percent to 18,239.92 and S&P 500 was up by 23.35 points or 0.41 percent to 5,728.8.
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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