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Market Highlights
The S&P 500 reached an all-time high on Tuesday, with current gains of 17.2% year-to-date and the potential for its third consecutive year of returning over 20%, a scenario historically linked to upcoming sell-offs. Notable stocks also saw significant achievements, with Apple surpassing a $4 trillion market capitalization, while Microsoft and Nvidia both maintained valuations at or above this threshold.
The S&P 500 has gained 79.5% since the start of 2023, and the Nasdaq Composite has surged 127.7%. However, this robust growth follows a decline where the index dropped nearly 20% in 2022 after three years of consistent annual gains, prompting a cautious outlook as volatility remains a normal aspect of investing.
Investors are advised to consider high-quality companies, like Microsoft and Procter & Gamble, amid elevated valuations. Procter & Gamble currently holds a dividend yield of 2.8% and plans to spend $10 billion on dividends and $5 billion on stock repurchases in the current fiscal year.
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