The US markets ended higher on Tuesday as traders continued to pick up stocks at relatively reduced levels. Markets have also benefitted from ongoing optimism about the outlook for the markets even after indications the Federal Reserve plans to cut interest rates less than previously estimated next year. The extent of the upward move has been exaggerated by below average volume, as many traders remained away from their desks on account of Christmas Day holiday on Wednesday. The markets also closed earlier than usual on the day, which likely kept some traders on the sidelines.
Meanwhile, a lack of major U.S. economic data also contributed to light trading, as the release of reports on durable goods orders and new home sales was pushed forward to Monday after President Joe Biden signed an executive order closing the federal government for Christmas Eve. Brokerage stocks turned in some of the market's best performances on the day, driving the NYSE Arca Broker/Dealer Index up by 1.7 percent. Significant strength was also visible among retail stocks, as reflected by the 1.5 percent gain posted by the Dow Jones U.S. Retail Index. Networking, computer hardware and banking stocks also saw notable strength moving higher along with most of the other major sectors.
Dow Jones Industrial Average rose 390.08 points or 0.91 percent to 43,297.03, Nasdaq surged 266.24 points or 1.35 percent to 20,031.13 and S&P 500 was up by 65.97 points or 1.1 percent to 6,040.04.
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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