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The US markets ended higher on Tuesday with Nasdaq settling over one and half percent. The strength on markets reflected a positive reaction to the Labor Department's highly anticipated report on consumer price inflation in the month of February. The Labor Department said its consumer price index climbed by 0.4 percent in February after rising by 0.3 percent in January. The increase matched street estimates. Excluding food and energy prices, core consumer prices also rose by 0.4 percent in February, matching the increase seen in January. Economists had expected core prices to rise by 0.3 percent. The report also said the annual rate of consumer price growth ticked up to 3.2 percent in February from 3.1 percent in January. The year-over-year growth was expected to be unchanged.
Meanwhile, the annual rate of core consumer price growth slowed to 3.8 percent in February from 3.9 percent in January. Street had expected the pace of growth to decelerate to 3.7 percent. While core price growth slowed by slightly less than expected, the slowdown still seems to have added to optimism about the Federal Reserve lowering interest rates in June. on the sectoral front, Software stocks saw substantial strength on the day, resulting in a 2.6 percent surge by the Dow Jones U.S. Software Index. Oracle (ORCL) led the sector higher, soaring by 11.8 percent after reporting better than expected fiscal third quarter earnings and strong cloud revenue growth. Semiconductor stocks also showed a significant move back to the upside, driving the Philadelphia Semiconductor Index up by 2.1 percent.
Dow Jones Industrial Average rose 235.83 points or 0.61 percent to 39,005.49, Nasdaq surged 246.36 points or 1.54 percent to 16,265.64 and S&P 500 was up by 57.33 points or 1.12 percent to 5,175.27.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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