US markets closed higher on Thursday

15 Jul 2016 Evaluate

The US markets closed higher on Thursday, with the Dow industrials and the S&P 500 notching new closing highs. Stronger-than-expected results from large financial institutions, as well as upbeat economic data, powered the climb, which has added to a record run by stocks. The number of Americans who applied for unemployment benefits last week was unchanged at 254,000, from July 3 to July 9, offering more proof that the US labor market remains sound despite a slower pace of hiring in 2016. Claims have been below the key 300,000 threshold for 71 weeks, the longest stretch since 1973. The average of new jobless claims over the past month fell by 5,750 to a two-and-a-half month low of 259,000. Still, job creation has tapered off this year to a monthly rate of 172,000 from 229,000 in 2015. Continuing jobless claims climbed 32,000 to 2.15 million in the week ended July 2. Separately, US producer prices jumped 0.5% in June - the biggest increase in more than a year - largely owing to higher oil prices and margins for financial services. Yet inflation overall remains muted. In the past 12 months, the producer price index has advanced 0.3%, the first year-over-year increase since the end of 2014.

Meanwhile, Atlanta Fed President Dennis Lockhart stated that the vote by Britain to leave the European Union has clouded the US economic outlook forcing the Federal Reserve to be patient, implying that it would be prudent to wait to resume lifting rates. Lockhart added that he wasn’t worried about an outbreak of inflation from the current stance of policy. Business fixed investment has been negative for two straight quarters, a red flag for the economy.

The Dow Jones Industrial Average was up by 134.29 points or 0.73 percent to 18,506.41, Nasdaq added 28.33 points or 0.57 percent to 5,034.06, while S&P 500 gained 11.32 points or 0.53 percent to 2,163.75.

The Indian ADRs closed mostly in green; HDFC Bank was up 0.72%, Dr. Reddy’s Lab was up 0.31%, Tata Motors was up 0.21% and Infosys was up 0.13%. On the other hand, Wipro was down by 0.09%.

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.

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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.

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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.
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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

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