2024-03-22 09:00:00 ET
Summary
- S&P 500 reaches an all-time high, with predictions of reaching 5,700 in 2024 due to AI and fintech growth.
- JPMorgan Nasdaq Equity Premium Income ETF is a strong candidate for generating capital appreciation and income.
- JEPQ has outperformed other income-producing ETFs, offering a double-digit yield and potential for upside exposure in a bull market.
We're not even through Q1 of 2024, and what a year it's already been. The S&P 500 is up 8.81% YTD and reached an all-time intraday high of 5,242.92 before closing at an all-time high of 5,242.67. A few days ago, Citigroup (C) indicated that the S&P 500 could reach 5,700 in 2024 as technology, specifically AI and fintech, provides a runway for growth. The markets rallied to all-time highs as we are no longer fighting the Fed after commentary from Fed Chair Powell on Wednesday afternoon. While there is a lot of excitement and investors are looking forward to further capital appreciation in 2024, a whole segment of income investors is thinking about deploying capital in a lower-rate environment. The T-bill and chill methodology will disappear as rates start to decline, but the need to generate income will still exist for a segment of the investing population. I have continued adding to my position in the JPMorgan Nasdaq Equity Premium Income ETF ( JEPQ ) going into the Fed meeting and feel it's a strong candidate to generate a combination of capital appreciation and income if the market continues higher and rates decline....
Read the full article on Seeking Alpha
For further details see:
JEPQ Keeps Climbing While Throwing Off A 9% Distribution Yield