The US markets ended mostly higher on Thursday as the Federal Reserve announced its widely expected decision to lower interest rates by a quarter point. After aggressively slashing interest rates by half a percentage point in September, the Fed said it has decided to lower the target range for the federal funds rate by 25 basis points to 4.50 to 4.75 percent. The central bank said its decision to continue lowering rates comes as labor market conditions have generally eased, while inflation continues to make progress towards its 2 percent objective. However, the Fed said the risks to achieving its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run are roughly in balance.
The Fed said the economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate. In considering future adjustments to rates, the central bank said it will continue to carefully assess incoming data, the evolving outlook, and the balance of risks. Fed Chair Jerome Powell stressed that rates are not on any preset course and said the central bank will make future decisions meeting by meeting. Powell also said the Fed is well positioned to deal with the risks to both sides of its dual mandate, noting the it can cut rates more slowly or more quickly depending on the economic developments. On the sectoral front, Semiconductor stocks extended the surge seen over the two previous sessions, driving the Philadelphia Semiconductor Index up by 2.3 percent. Considerable strength was also visible among software stocks, as reflected by the 1.9 jump by the Dow Jones U.S. Software Index.
Nasdaq gained 285.99 points or 1.51 percent to 19,269.46 and S&P 500 was up by 44.06 points or 0.74 percent to 5,973.1, while Dow Jones Industrial Average lost 0.59 points to 43,729.34.
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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