The US markets ended mostly higher on Wednesday following the release of closely watched consumer price inflation data that came in line with Street estimates. The Labor Department said its consumer price index crept up by 0.2 percent in October, matching the upticks seen in each of the three previous months as well as expectations. The report also said the annual rate of consumer price growth accelerated to 2.6 percent in October from 2.4 percent in September. The faster growth also came in line with street estimates. Excluding food and energy prices, core consumer prices climbed by 0.3 percent in October, matching the increases seen in each of the two previous months along with expectations.
The annual rate of core consumer price growth was unchanged from the previous month at 3.3 percent, which was also in line with estimates. While the data increased confidence the Federal Reserve will continue lowering interest rates next month, inflation remaining somewhat sticky led to uncertainty about the likelihood of future rate cuts. On the sectoral front, airline stocks saw substantial weakness on the day, with the NYSE Arca Airline Index plummeting by 7.3 percent. The index continued to give back ground after reaching its best closing level in over a year on Monday. A nosedive by shares of Spirit Airlines (SAVE) weigh on the sector, with the discount airline plunging by 59.3 percent after a report from the Wall Street Journal said Spirit is preparing to file for bankruptcy protection after merger talks with Frontier Airlines (ULCC) broke down. Significant weakness was also visible among semiconductor stocks, as reflected by the 2.0 percent slump by the Philadelphia Semiconductor Index.
Dow Jones Industrial Average gained 47.21 points or 0.11 percent to 43,958.19 and S&P 500 was up by 1.39 points or 0.02 percent to 5,985.38. However, Nasdaq dropped 50.68 points or 0.26 percent to 19,230.72.
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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