The US markets ended mostly higher on Monday as traders looked to pick up stocks at somewhat subdued levels following the steep drop seen last week. Sentiments got boost as the National Association of Home Builders released a report showing homebuilder confidence has improved by much more than anticipated in the month of November. The report said the NAHB/Wells Fargo Housing Market Index climbed to 46 in November after rising to 43 in October. Street had expected the index to inch up to 44. With the much bigger than expected increase, the housing market index reached its highest level since hitting 51 in April. The advance by the housing market index reflected increases by all three sub-indices, with the component measuring sales expectations in the next six months surging to 64 in November from 57 in October. The gauge charting traffic of prospective buyers also climbed to 32 in November from 29 in October, while the index charting current sales conditions rose to 49 in November from 47 in October.
The NAHB said the latest HMI survey also revealed that 31 percent of homebuilders cut prices in November, with the share continuing to hover between 31 percent and 33 percent. However, buying interest was somewhat subdued as traders looked ahead to the release of quarterly results from AI darling Nvidia (NVDA). On the sectoral front, gold stocks moved sharply higher on the day, resulting in a 4.2 percent spike by the NYSE Arca Gold Bugs Index. The rally by gold stocks comes amid a substantial increase by the price of the precious metal. Considerable strength was also visible among computer hardware stocks, as reflected by the 2.8 percent surge by the NYSE Arca Computer Hardware Index. Super Micro Computer (SMCI) led the sector higher after a report from Barron's said the company is expected to file a plan to avoid being delisted from the Nasdaq.
Nasdaq rose 111.68 points or 0.6 percent to 18,791.81 and S&P 500 was up by 23 points or 0.39 percent to 5,893.62, while Dow Jones Industrial Average lost 55.39 points or 0.13 percent to 43,389.6.
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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