While the stock market has seen a solid start to the year, macroeconomic concerns are expected to keep the market under pressure in the near term. With volatility expected to remain, I think dividend-paying stocks Gilead Sciences, Inc. (GILD) and Altria Group, Inc. (MO) could be worth buying now to ensure a steady income stream.
Job creation was again stronger than expected last month despite the Fed’s efforts to slow the economy and bring down inflation. Nonfarm payrolls rose by 311,000 for the month, significantly higher than the 225,000 Dow Jones estimate. The tight labor market is prompting the Fed to continue its rate hike regime, adding to the recession worries.
The Fed’s inflation-fighting efforts have led to high-profile bank failures that have rattled the financial system over the past few days.
Michael Gapen, the chief U.S. economist for Bank of America, said, to bring inflation back to near its 2% target, “The Fed still has…
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