US markets closed mostly up; S&P, Dow close at record high

03 Jun 2014 Evaluate

The US markets closed mostly higher on Monday, with the S&P 500 and Dow Jones Industrial Average closing at record high levels. The main benchmarks moved lower in early trade, after the ISM reported erroneous data showing a downbeat reading in the manufacturing index. However, American manufacturers grew in May at the fastest rate of 2014, as almost every major sector showed improvement. The Institute for Supply Management’s manufacturing index rose to 55.4% last month from 54.9% in April. Initially the ISM stated that its index fell to 53.2% in May, a disappointing figure that weighed on US markets and briefly fueled concerns whether gathering momentum in the manufacturing sector was petering out. The final Markit reading of US manufacturing conditions in May totaled 56.4, compared to a preliminary reading of 56.2. In April the index registered 55.4. Readings over 50 indicate growth. In May, the index for output was 59.6, up from 58.2 in April. New orders totaled 58.8 vs. 58.9 in April. The employment index was 53.7, the same as in the prior month.

Separately, outlays for US construction projects rose 0.2% in April to a seasonally adjusted annual rate of $953.5 billion. Looking at private projects, spending rose 0.1% on residential construction, and fell 0.1% on nonresidential projects. For public projects, spending fell 6% for residential construction and rose 1% for nonresidential construction.

Meanwhile, Chicago Fed President Charles Evans stated that the US Federal Reserve will start raising interest rates after it unwinds its extraordinary monetary easing measures, with initial hikes potentially coming in 2015 or 2016. Evans added that Fed’s 2% inflation target should not be seen as a ceiling and that the target could be higher. Dismissing the first-quarter contraction as an outlier driven by one-off factors led by inventory adjustments, Evans enlightened that the US economy will expand at an annual pace of 3% for the rest of the year.

The Dow Jones Industrial Average was up by 26.46 points or 0.16 percent, to 16,743.63, the S&P 500 gained 1.40 points or 0.07 percent, to close at 1,924.97 while, the Nasdaq Composite lost 5.42 points or 0.13 percent, to 4,237.20.

The Indian ADRs closed mostly in green on Monday; HDFC Bank was up 2.11%, ICICI Bank was up by 1.82% and Infosys was up 0.84%. On the other hand, Dr. Reddy’s Lab was down by 0.33% and Wipro was down 0.05%.

Create stable, long-term investment portfolio with strong, consistent stocks.

Start Research-backed Investing ...Now. Subscribe to Sapphire

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.