US markets closed higher as jitters over Brexit subsides

01 Jul 2016 Evaluate

The US markets closed higher on Thursday, for a third session on mounting expectations for more accommodative policies from global central banks following the UK’s vote to leave the European Union last week. All three indexes are near the levels they were trading at ahead of last week’s UK referendum as initial jitters over Brexit subsided. On the economy front, a measure of Chicago-area economic activity surged in June on a big advance in the number of purchasing managers indicating improving production and new orders. The Chicago PMI rose to 56.8, a rise of 7.5 points to move the index comfortably above the 50 mark indicating improving conditions. The new-orders index rose to the highest level since October 2014. Order backlogs were the strongest since March 2011. For the second quarter as a whole, the Chicago PMI index fell slightly to 52.2 from 52.3.

However, the number of Americans filing for unemployment benefits rose last week, but remained below a level associated with a healthy labor market. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 268,000 for the week ended June 25. Claims for the prior week were revised to show 1,000 fewer applications received than previously reported. Claims have now been below 300,000, a threshold associated with a strong jobs market, for 69 consecutive weeks, the longest streak since 1973. The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, was unchanged at 266,750 last week. The claims report showed the number of people still receiving benefits after an initial week of aid fell 20,000 to 2.12 million in the week ended June 18. The four-week average of claims declined 17,000 between the May and June survey periods.

The Dow Jones Industrial Average was up by 235.31 points or 1.33 percent to 17,929.99, Nasdaq added 63.42 points or 1.33 percent to 4,842.67, while S&P 500 gained 28.09 points or 1.36 percent to 2,098.86.

The Indian ADRs closed in green; Dr. Reddy’s Lab was up 1.66%, Tata Motors was up 1.01%, HDFC Bank was up 0.98%, Wipro was up 0.22% and ICICI Bank was up 0.08%.

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.