ENB:CC - Dividend Harvesting Portfolio Week 159: $15900 Allocated $1410.26 In Projected Dividends

2024-03-21 09:00:00 ET

Summary

• The market was relatively flat this week ahead of the FOMC meeting.
• The Dividend Harvesting Portfolio reached a record high in profitability and is on track to generate a significant amount of income in 2024.
• The portfolio is focused on generating ongoing dividend income and mitigating downside risk, with a strong performance in 2023 and expectations for positive results in 2024.

The market was relatively flat this week, heading into the FOMC meeting on the 20 ^th . The S&P 500 appreciated by 0.09%, while the Nasdaq declined by -0.54%. CPI data ticked higher as the print for February was 3.2%, which was 0.1% higher than the consensus estimates and where CPI was in January. Consumer Sentiment declined for the 2 ^nd consecutive month in March as it came in under the consensus estimates. The CME Group is projecting that there is a 98% chance the Fed will keep rates where they are, and it will be interesting to see what Fed Chair Powell says at the press conference and, even more importantly, what his tone is. I am expecting that an unexpected rate decrease is off the table, and he will phrase the message as the FOMC members are getting closer to where they feel confident in taking rates lower, but they want to make sure over the next several months that inflation doesn't increase the rate at which it's rising. Ultimately, I think the first rate cut could come as soon as the May FOMC meeting, but I think it's more likely that the Fed will cut rates by 25 bps for the first time at the June meeting....

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