US markets closed lower as election race tightens

02 Nov 2016 Evaluate

The US markets closed lower on Tuesday, with the S&P 500 dropping for a sixth consecutive session to end at a nearly four-month low as investors grappled with a tightening presidential race, economic data, corporate earnings, and the Federal Reserve’s monetary policy decision. Polls showed the race between Democratic nominee Hillary Clinton and Republican rival Donald Trump continues to tighten. Federal Reserve officials began a two-day policy meeting, which concludes on Wednesday, and are widely expected to leave rates unchanged on expectations the central bank will want to avoid influencing the outcome of the presidential election next week. On the economy front, outlays for US construction projects fell 0.4% in September. September spending of $1.15 trillion was 0.2% below a year ago. This is the first year-on-year decline in construction spending since July 2011. The government revised August’s result up to 0.5% drop. In September, spending on private outlays fell 0.2%. Residential spending rose 0.5% but spending on nonresidential projects sank 1%. Investors were also digesting monthly car sales numbers. General Motors and Ford Motor Company reported their US sales slipped in October, hurt by fewer selling days and a cutback in fleet sales.

On the other hand, American manufacturers grew slightly faster in October and even put more people to work for the first in four months, a hopeful sign for an industry that has struggled to grow over the past year and contributed to a slowdown in the US economy. The Institute for Supply Management said its manufacturing index rose to 51.9%, the highest in three months, from 51.5% in September. A similar survey of industry executives produced by IHS Markit also found an improvement in manufacturing in October. The Markit index hit a one-year high. The Markit Manufacturing PMI Index rose to 53.4 from the 53.2 preliminary figures and higher than the 51.5 the month prior.

The Dow Jones Industrial Average lost 105.32 points or 0.58 percent to 18,037.10, Nasdaq dropped 35.56 points or 0.69 percent to 5,153.58, while S&P 500 was down 14.43 points or 0.68 percent to 2,111.72.

The Indian ADRs closed mostly in red; HDFC Bank was down 0.85%, Tata Motors was down 0.35% and Wipro was down 0.02%. On the other hand, Dr. Reddy’s Lab was up 0.38% and ICICI Bank was up 0.02%.

Create stable, long-term investment portfolio with strong, consistent stocks.

Start Research-backed Investing ...Now. Subscribe to Sapphire

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.