The US markets ended higher on Friday after preliminary data released by the University of Michigan showed consumer sentiment has improved by more than expected in the month of November. The University of Michigan said its consumer sentiment index climbed to 73.0 in November from 70.5 in October. Street had expected the index to inch up to 71.0. With the bigger than expected increase, the consumer sentiment index reached its highest level since hitting 77.2 in April. Further, markets continued to benefit from a positive reaction to former President Donald Trump's decisive victory in the U.S. presidential election.
Trump's return to the White House is expected to be positive for corporations and the U.S. economy, although there are some concerns about the effect planned tariff increases will have on inflation. On the sectoral front, interest rate-sensitive stocks saw considerable strength on the day, as treasury yields extend the notable pullback seen in the previous session. With the yield on the benchmark ten-year note pulling back further off the four-month closing high set on Wednesday, utilities, commercial real estate and telecom stocks all move notably higher.
Dow Jones Industrial Average gained 259.65 points or 0.59 percent to 43,988.99, Nasdaq gained 17.32 points or 0.09 percent to 19,286.78 and S&P 500 was up by 22.44 points or 0.38 percent to 5,995.54.
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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