The US markets ended in green on Friday with Nasdaq settling higher over two percent amid a positive reaction to some of the latest earnings news from big-name tech companies. Shares of Alphabet (GOOGL) soared by 10.2 percent after the Google parent reported better than expected first quarter results and authorized its first-ever dividend as well as a $70 billion stock buyback. Software giant Microsoft (MSFT) also jumped by 1.8 percent after reporting fiscal third quarter results that exceeded expectations. Shares of Snap (SNAP) skyrocketed by 27.6 percent after the SnapChat parent reported first quarter results that exceeded expectations on both the top and bottom lines. On the sectoral front, Semiconductor stocks saw substantial strength on the day despite the slump by Intel, with the Philadelphia Semiconductor Index surging by 2.6 percent. Significant strength was also visible among software stocks following Microsoft's upbeat results, resulting in a 1.5 percent gain by the Dow Jones U.S. Software Index.
On the economic data front, closely watched readings on inflation released by the Commerce Department showed consumer prices in the U.S. increased in line with street estimates in the month of March. The Commerce Department said its consumer price index rose by 0.3 percent in March, matching the increase seen in February as well as street estimates. Excluding food and energy prices, core consumer prices also climbed by 0.3 percent for the second straight month, in line with expectations. Meanwhile, the report said the annual rate of consumer price growth accelerated to 2.7 percent in March from 2.5 percent in February. The street had expected the pace of growth to tick up to 2.6 percent. The annual rate of growth by core consumer prices in March came in unchanged from February at 2.8 percent, while the street had expected the pace of growth to slow to 2.6 percent. Prices for services continued to drive annual growth, with services prices for March surging by 4.0 percent compared to the same month a year ago. Prices for goods inched up just 0.1 percent year-over-year.
Dow Jones Industrial Average rose 153.86 points or 0.4 percent to 38,239.66, Nasdaq surged 316.14 points or 2.03 percent to 15,927.9 and S&P 500 was up by 51.54 points or 1.02 percent to 5,099.96.
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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