ENB:CC - Dividend Harvesting Portfolio Week 173: $17300 Allocated $1540.02 In Projected Dividends

2024-06-27 09:00:00 ET

Summary

• Markets hit new highs, with Nasdaq up 0.08% and S&P 500 up 0.68%.
• Dividend Harvesting Portfolio adds $89.68 in profitability, projecting future growth.
• Portfolio generates $1,540.02 in forward dividend income, focusing on diversification and income growth.

The markets have been on an absolute tear as new high after new high is made. The S&P 500 got past 5,500 this week after ultimately settling at 5,464.52, while the Nasdaq breached 17,900. Overall, the Nasdaq finished the week up 0.08% while the S&P 500 climbed 0.68%. There is a tug-of-war going on between Microsoft (MSFT), Apple (AAPL), and NVIDIA Corporation (NVDA), as NVDA overtook them to become the largest company in the market for a short period of time. Shares of NVDA reached around $140 before retracing around -9.6% to $126.57. In addition to the markets being led higher by technology, the Dividend Harvesting Portfolio got back in the black as it added $89.68 in profitability. CME Group is projecting that there is only a 10.3% chance the Fed will cut rates at the July FOMC meeting, and the more likely scenario is that we get the first rate cut in September. No matter what the Fed does, I am excited to build out the Dividend Harvesting Portfolio in a high-rate environment, as I feel some sectors will melt up when the first rate cut occurs. No matter what happens, I will continue allocating capital each week and building out the Dividend Harvesting Portfolio....

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