2024-07-18 09:00:00 ET
Summary
- Dividend Harvesting Portfolio hits new records with highest account balance, largest ROI, and most dividend income since inception.
- Portfolio is well positioned for future with projected $1,800 in forward dividend income by end of 2024.
- Weekly dividend income continues to grow, with $29.61 collected in week 28 and weekly average up 61.50% YoY.
What a week it was as Fed Chair Powell testified in front of the House Financial Service Panel and we got the latest CPI data . The latest CPI print came it at 3%, which is the lowest level since June of 2023, while Core CPI came in at 3.3%. Fed Chair Powell stuck with the same mantra and now that the updated CPI data is out, CME Group is projecting that there is an 88.1% chance the Fed pivots by lowering rates 25 bps at the September meeting. Unemployment is ticking higher and is now at 4.1%, which is 0.6% higher YoY. I think the Fed is backed into a corner because the 2 nd half of their mandate of maximum employment is at risk as unemployment has climbed for 3 consecutive months. The markets closed higher as the S&P 500 gained 0.70% this week while the Nasdaq increased by 0.23%. I think the Fed should have already pivoted, but when they do, I think we will see the markets melt up. As the cost of capital becomes lower, it will unlock segments of the economy and allow companies to refinance debt at favorable levels. Businesses will be more inclined to borrow for expansion, and when that occurs, the amount of capital being spent on goods and services should increase. I think that the Dividend Harvesting Portfolio is well positioned for the future, and no matter what happens, I will continue allocating capital every week to building out this income-producing portfolio....
Read the full article on Seeking Alpha
For further details see:
Dividend Harvesting Portfolio Week 176: $17,600 Allocated, $1,580.69 In Projected Dividends