BAC - 2 Dividend Stocks That Are Screaming Buys in May
2024-05-09 05:35:00 ET
The S&P 500 , which was flying high during the first three months of 2024, lost some of its gains in April but is still up 8.6% so far for the year. Investors tempered their enthusiasm in recent weeks based on the latest data about inflation, which isn't going down without a fight. The Federal Reserve said it wouldn't raise interest rates right now, but it's also not going to cut them.
When there's economic flux, dividend stocks start to gain in popularity because investors know they can count on passive income regardless of the stock's performance. Dividend stocks also tend to present buying opportunities during these times because stock price drops tend to push up dividend yields.
Bank of America (NYSE: BAC) and American Express (NYSE: AXP) are two top dividend stock choices to consider right now. Both of their stocks are already rising this year as investors become more confident about the economy, and they could soar if or when the Federal Reserve does start to cut rates. Plus, they both trade at reasonable valuations despite their stock climbs.
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2 Dividend Stocks That Are Screaming Buys in May