The US markets ended mostly in red on Thursday. Following the sell-off seen late in the previous session, markets showed a notable rebound in early trading on Thursday. Buying interest waned over the course of the trading day, however, and the major averages eventually ended the day mostly lower. On the sectoral front, Interest rate-sensitive housing stocks extended Wednesday's sell-off, with the Philadelphia Housing Sector Index tumbling by 2.6 percent to its lowest closing level in over five months. The continued weakness among housing stocks came even though the National Association of Realtors released a report showing existing home sales spiked to an eight-month high in November. Considerable weakness was also visible among interest rate-sensitive commercial real estate stocks, as reflected by the 1.6 percent loss posted by the Dow Jones U.S. Real Estate Index. Semiconductor stocks also showed another significant another significant move downside, dragging the Philadelphia Semiconductor Index down by 1.6 percent.
On the economic data front, the Commerce Department released a report showing the pace of U.S. economic growth unexpectedly surged by more than previously estimated in the third quarter. The report said gross domestic product shot up by 3.1 percent in the third quarter, reflecting an upward revision from the 2.8 percent jump previously reported. Street had expected the pace of growth to be unrevised. The Commerce Department said upward revisions to exports and consumer spending offset a downward revision to private inventory investment and an upward revision to imports, which are a subtraction in the calculation of GDP. With the upward revision, the GDP growth in the third quarter now reflects a modest acceleration from the 3.0 percent surge in the second quarter.
Nasdaq dropped 19.92 points or 0.1 percent to 19,372.77 and S&P 500 was down by 5.08 points or 0.09 percent to 5,867.08, while Dow Jones Industrial Average rose 15.37 points or 0.04 percent to 42,342.24.
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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