Market Wrap-Up for Dec.10 (GE, JPM, MTB, AVB, NSM, CVC, BBY, more)
You ever wonder why "investing" in a Social Security "pension" works? Because it is automatically done and there is nothing for a worker to do.
To be able to retire with a considerable nest egg, the first process will require that investors get money into accounts that can be used to accumulate high-quality dividend-paying stocks. Figure out what it takes to do this and get yourself in position to get that money to work for you each month. The reason I bring this up from time to time is the data that I keep coming across that alarms me - and should alarm you too. A recent survey from Wells Fargo reports that the average American has saved less than 7 percent of his desired retirement nest egg and will likely have to keep working in retirement to supplement his income.
The sooner investors understand that sitting in cash over extended periods of time is not the smartest move, the sooner they will come in off the sidelines. It will happen, but in the meantime, you can put yourself in a better position financially to build your nest egg by getting a specific amount of funds ready to work for you each week or month. You can still enjoy yourself with things you like to do, but save some of that entertainment money to put to work for you as well.
Looking at today's action, Beckman Coulter ( BEC ) spiked on reports the company could be for sale. This is another bullish anecdote to watch for as we move forward. More on recent bullish trends we are seeing can be seen in today's video from Tom and myself.
Elsewhere, Wall Street analyst upgrades helped lift shares of AvalonBay Communities ( AVB ), JP Morgan ( JPM ), and M&T Bank ( MTB ). Cablevision ( CVC ) was higher on news it will be added to the S&P 500 Index. General Electric ( GE ) shares rose this afternoon following news of the company's second dividend increase this year. On the downside, National Semiconductor ( NSM ) slumped following the company's earnings outlook.
Looking ahead to next week, earnings will continue to be light, with notables such as Best Buy ( BBY ), Accenture ( ACN ) and General Mills ( GIS ) set to report. Be sure to catch up with our latest watchlist updates, including the new reports on earnings/story stocks, analyst upgrades/downgrades and how those names performed on the week. All that will be available this weekend on Dividend.com Premium, and as always, you can view our current recommendations on our industry-leading Best Dividend Stocks List .
Have a great weekend everybody, and thanks for reading!