US markets closed higher on Monday

03 Oct 2017 Evaluate

The US markets closed higher on Monday, as equities resumed a steady run-up that could set the tone for the final three months of 2017. President Donald Trump addressed a mass shooting in Las Vegas that left scores dead and injured. Trump described the shooting, which killed at least 58 and left more than 400 casualties, as an act of pure evil. Minneapolis Fed President Neel Kashari openly disagreed with Fed Chairwoman Janet Yellen by urging the central bank not to raise interest rates again until inflation hits the central bank’s 2% annual target. Kashkari added that my preference would be not to raise rates again until we actually hit 2% core PCE inflation on a 12- month basis. Kashkari was referring to the Fed’s preferred measure of inflation, or personal-consumption expenditures, also known as the PCE deflator. Kashkari is a voting member of the Fed’s interest-rate policy committee this year. He has dissented from the two rate hikes so far this year. Similarly, Dallas Fed President Rob Kaplan said the Fed should be patient with monetary policy and that the central bank should wait to see a rise in inflation to justify a rate hike. The Fed policymaker said that the Federal Reserve will need to look hard at whether it should raise rates in December, but there is no need to wait for inflation to actually get to, or even begin to rise back to, the Fed’s 2-percent target before doing so.

On the economy front, construction outlays jumped in August, led by a surge in spending for public works projects. Spending increased 0.5% during the month, and stood 2.5% higher than a year ago. Outlays were at a seasonally adjusted annual $1.22 trillion rate in August, while July’s initial tally was revised up to $1.212 trillion. Private construction spending rose 0.4% in August, while public outlays jumped 0.7%, driven by a 3.5% increase in educational construction projects. Public construction spending has stagnated for years. Meanwhile, residential construction spending was up only 0.5% for the month, but was 11.3% higher than its year-ago level. The Commerce Department noted that Florida and Texas, the area most impacted by Hurricanes Harvey and Irma, accounted for 22% of US private nonresidential construction spending in 2016, and 15% of state-and-locally-owned construction spending.

Meanwhile, the Institute for Supply Management said its manufacturing index jumped to 60.8 in September from 58.8%, hitting the highest level since 2004. The index for new orders climbed 4.3 points to 64.6% and a measure of employment rose to 60.3%, the strongest reading since 2011. Seventeen of the 18 industries surveyed reported growth in August, an unusually high number that reflects the underlying strength of an economy that’s been growing for more than eight years.

The Dow Jones Industrial Average added 152.51 points or 0.68 percent to 22,557.60, the Nasdaq gained 20.76points or 0.32 percent to 6,516.72, and the S&P 500 edged higher by 9.76 points or 0.39 percent to 2,529.12.

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.