US markets closed higher; investors shook off Brexit concerns

07 Jul 2016 Evaluate

The US markets closed higher on Wednesday, as investors shook off worries tied to the UK’s vote late last month to exit the European Union. A stronger-than-expected report on nonmanufacturing activity helped nudge investors back into equities, while minutes from the Federal Reserve’s June policy meeting showed the majority of policy makers were in favor of keeping rates on hold. Dovish Federal Reserve policymakers are growing more vocal, pushing a divided committee firmly on the side of taking no action, a close reading of the June meeting minutes revealed. When the central bank met in mid-June, an abysmal May jobs report had just startled markets, and the upcoming British referendum on European Union membership loomed large. But familiar refrains are sprinkled throughout the meeting minutes, signaling that the same old fears still linger for some members. The policymakers acknowledged that the job market was tightening enough that employers might be having trouble finding workers. Some officials thought spending could pick up, particularly given the greater optimism businesses had expressed. While most participants expected to see inflation continue to trend up toward the Fed’s 2% target, other participants were less confident that inflation would return to its target level over the medium term.

On the economy front, the Institute for Supply Management’s service sector index jumped to 56.5% in June, a much stronger reading than expected and a sign the economy may have pushed past the rough patch it hit in May. The details of the report were strong; the new orders component, which foreshadows future activity, jumped 5.7 points to 59.9%. The production index rose to 59.5%. Employment increased 3.0 points to 52.7%, suggesting a rebound from a slowdown in May. Separately, stronger demand for imports such as cell phones, sneakers and home furnishings boost the US trade deficit by 10% in May, but the rebound in consumer demand suggests the economy regained momentum after a slow start to the year. The nation’s trade gap climbed $41.1 billion - a three-month high - from a revised $37.4 billion in April. US imports increased 1.6% in May to a seasonally adjusted $223.5 billion while exports, meanwhile, slipped 0.2% to $182.4 billion. Although a higher trade deficit subtracts from gross domestic product, the surge in consumer imports adds to evidence that American accelerated their spending in the second quarter after holding back earlier in the year.

The Dow Jones Industrial Average was up by 78.00 points or 0.44 percent to 17,918.62, Nasdaq added 36.26 points or 0.75 percent to 4,859.16, while S&P 500 gained 11.18 points or 0.54 percent to 2,099.73.

The Indian ADRs closed mostly in red; HDFC Bank was down 0.46%, Infosys was down 0.20% and Wipro was down 0.07%. On the other hand, Tata Motors was up 0.21% and Dr. Reddy’s Lab was up 0.18%.

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.