US markets closed higher; Nasdaq notches record close

23 Sep 2016 Evaluate

The US markets closed higher on Thursday, with the Nasdaq Composite notching a record close, as investors’ enthusiasm following the Federal Reserve’s most recent policy update spilled over into a second session. Better-than-expected weekly jobless claims data, which fell to the lowest tally since July, signaled a strong labor market and helped extend the optimistic tone on Wall Street. The number of people who applied for first-time US unemployment-insurance benefits fell by 8,000 to 252,000 in the week that ended September 17, marking 81 weeks that initial claims remained below the key 300,000 level, the longest streak since 1970. Longer-run trends also showed improvement, with the four-week average of new claims falling 2,250 to 258,500. The continuing claims fell by 36,000 to 2.1 million in the week that ended September 10. The four-week average of continuing claims, which reflect the number of people already receiving benefits, fell 8,000 to 2.14 million.

On the other hand, the Chicago Fed National Activity Index fell to negative 0.55 in August compared with revised 0.24 in July. Led by improvements in production-related indicators, July’s reading was reported at a 12-month high. But the US economy has struggled to string together more than one month of above-average growth over the past year. All four broad categories in the index decreased in August from July. The Chicago Fed index is a weighted average of 85 different economic indicators, designed so that zero represents trend growth and a three-month average below negative 0.70 suggests a recession has begun. Separately, sales of previously owned homes fell for a second month in August as inventory of homes for sale continued to shrink. Existing-home sales declined 0.9% to a seasonally adjusted annual rate of 5.33 million. That was only 0.8% higher than a year ago, although year to date figures are 3% higher.

The Dow Jones Industrial Average added 98.76 points or 0.54 percent to 18,392.46, Nasdaq gained 44.34 points or 0.84 percent to 5,339.52, while S&P 500 was up 14.06 points or 0.65 percent to 2,177.18.

The Indian ADRs closed mostly in green; Dr. Reddy’s Lab was up 0.91%, Tata Motors was up 0.22%, Infosys was up 0.12% and ICICI Bank was up 0.09%. On the other hand, HDFC Bank was down 0.37%.

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.