The US markets ended mixed on Wednesday. After seeing weakness throughout much of the session, stocks recovered in the latter part of the trading day on Wednesday. The major averages climbed well off their worst levels before eventually ending the session mixed. The roughly flat close by the major averages came as traders looked ahead to the release of quarterly results from AI darling Nvidia (NVDA) after the close of today’s trading. Nvidia, which has recently been a major market leader, fluctuated over the course of the session before closing down 0.8 percent. The volatility seen late in the session also came as trading activity was somewhat subdued amid a lack of major U.S. economic data.
On the sectoral front, biotechnology stocks showed a strong move to the upside on the day, driving the NYSE Arca Biotechnology Index up by 1.8 percent. The index continued to regain ground after hitting a three-month closing low on Monday. Healthcare and pharmaceutical stocks also turned in strong performances. Notable weakness remained visible among computer hardware stocks, with the NYSE Arca Computer Hardware Index falling by 1.3 percent after surging over the two previous sessions. A sharp pullback by shares of Super Micro Computer (SMCI) weighed on the sector.
Dow Jones Industrial Average surged 139.53 points or 0.32 percent to 43,408.47 and S&P 500 was up by 0.13 points to 5,917.11, while Nasdaq fell 21.33 points or 0.11 percent to 18,966.14.
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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