US markets closed higher with investors' looking ahead to major earnings

17 Oct 2017 Evaluate

The US markets closed higher on Monday, with all three major indexes logging another round of records, as investors looked ahead to key corporate earnings reports that could set the tone for trading and determine whether the lofty levels of the equity market are justified. Wide-ranging comments from President Donald Trump on tax cuts and health-care reforms following a luncheon meeting with Senate Majority Leader Mitch McConnell did not move the market. However, both issues are critical for stocks as lower taxes are seen as crucial to supporting a continued market rally.

Meanwhile, Federal Reserve Chair Janet Yellen sketched a bright outlook for the US economy and for inflation prospects in coming months, saying the impact of the recent hurricanes will likely slow economic growth slightly but only temporarily and should be followed by a rebound by year’s end. Her comments suggested that the central bank will soon resume raising interest rates to reflect the strengthening economy. Yellen acknowledged that the persistence of undesirably low inflation this year has been a surprise. But she said she expected inflation to start picking up as the effects of temporary factors, such as falling prices for consumer cell-phone service, begin to fade. Yellen said that the economy’s growth, as measured by the gross domestic product, might have slowed slightly in the July-September quarter as a consequence of the hurricanes but that growth is likely rebounding in the current quarter. The Fed chair enlightened that the administration’s proposed tax cuts may have boosted consumer and business confidence but so far appear to have had little effect on investment or spending decisions.

On the economy front, the New York Fed reported that its Empire State manufacturing index climbed to a three-year high of 30.2 in October from 24.4 in September. Any reading over zero indicates improving conditions. The general optimism index improved even though some of the key components actually worsened, like new orders, which fell to 18 from 24.9. Shipments did improve, however, to a reading of 27.5 from 16.2, and the number of employees rose to 15.6 from 10.6. Other indexes of note showed that delivery time fell to 3.1 from 14.6, inventories dropped to negative 7.8 from positive 6.5, and prices paid and received both declined.

The Dow Jones Industrial Average added 85.24 points or 0.37 percent to 22,956.96, the Nasdaq gained 18.21 points or 0.28 percent to 6,624.01, and the S&P 500 edged higher by 4.47 points or 0.18 percent to 2,557.64.

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.