2024-01-25 09:00:00 ET
Summary
- The stock market saw positive gains, with the S&P 500 increasing by 1.52% and the Dow Jones jumping 2.53%.
- The University of Michigan's report showed an increase to 78.8, the highest level since July 2021.
- Taiwan Semiconductor's better-than-expected forecast fueled optimism around artificial intelligence and led the market higher.
It was another good week in the markets as the S&P 500 increased by 1.52% and the Nasdaq jumped 2.53%. The University of Michigan's consumer sentiment report increased to 78.8, which is the highest level since July of 2021. Technology led the markets higher as Taiwan Semiconductor (TSMC) announced a better-than-expected forecast that fueled the narrative around artificial intelligence. The U.S. economic data will be front and center next week as everyone will be looking for Q4 GDP growth estimates in addition to December's personal goods orders. It's going to be interesting to see what is released as the U.S. economy is expected to have expanded at an annualized rate of 1.8% in Q4. This will set the stage for the upcoming Fed meeting on the 31 st . Currently, CME Group is projecting that there is a 97.9% chance the Fed maintains rates at the same level while there is a 2.1% chance we see a 25 bps cut. I am more excited about the Fed meeting than anything else at this point, but no matter what happens, I will be allocating $100 per week to the Dividend Harvesting Portfolio....
Read the full article on Seeking Alpha
For further details see:
Dividend Harvesting Portfolio Week 151: $15,100 Allocated, $1,331.13 In Projected Dividends