SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

US markets closed lower on soft economic data

28 Oct 2015 Evaluate

The US markets closed lower on Tuesday, on a combination soft economic data, mixed earnings and of slumping oil prices, with investors remaining cautious ahead of the Federal Reserve’s policy statement. Investors are bracing for whether the central bank will hint at a December hike in interest rates. On the economy front, service sector output growth fell to a nine-month low in October, according to the Markit Flash US services purchasing managers index released. The index fell to 54.4 in October from 55.1 in September, which means it’s still above the 50 mark indicating growth. The consumer confidence in October fell to a reading of 97.6, down from a revised 102.6 in September. The initial September reading was of 103.0, which was the highest level since January. Separately, US orders for long-lasting goods such as heavy machinery or airplanes fell in September for the second month in a row, offering little evidence that manufacturers are ready to rebound after a prolonged bout of softness. Durable-goods orders fell a fell a seasonally adjusted 1.2% in September following an even sharper 3% decline in the prior month. Previously the government had said orders dropped 2.3% in August.

On the other hand, the Commerce Department reported that homeownership rate rose to 63.7% in the third quarter, from 63.4% in the second quarter. That’s still well below the high of the series, of 69.2% in the second quarter of 2004. Here’s a city-by-city look at US house prices, after the S&P/Case-Shiller 20-city composite showed a 0.4% advance in home prices during August, to stretch year-on-year gains to 5.1%. Eighteen out of 20 cities reported monthly gains. That’s not unusual for the summer, and after seasonal adjustment, five were down, 11 were up, and four were unchanged. The report notes that, when adjusted for inflation, prices now are rising almost as quickly as they did during the 2005-2006 boom.

The Dow Jones Industrial Average lost 41.62 points or 0.24 percent to 17,581.43, Nasdaq was down 4.55 points or 0.09 percent 5,030.15 while, the S&P 500 dropped 5.29 points or 0.26 percent to 2,065.89.

Indian ADRs ended mostly in red, Tata Motors was down 0.34%, Dr. Reddy’s Lab was down 0.30%, ICICI Bank was down 0.12% and Wipro was down by 0.04%. On the other hand, HDFC Bank was up by 0.23%.


 

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

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

MoneyWorks4Me ensures this through:

×