S&P 500 Companies Surge in 2013 as Index Hits All-Time High
Five Star Equities Provides Stock Research on General Electric and 3M
NEW YORK, NY -- (Marketwire) -- 03/29/13 -- On the last trading day of the quarter the Standard & Poor's 500 Index surpassed its record closing high set in October 2007, before the financial crisis hit. The S&P 500 Index has gained nearly 10 percent so far in 2013. Five Star Equities examines the outlook for companies in the S&P 500 Index and provides equity research on General Electric Company (NYSE: GE) and 3M Co. (NYSE: MMM).
On Thursday the S&P 500 Index surpassed its previous high of 1565.15. Surpassing the S&P 500's record closing level was a significant milestone for Wall Street as it marked a recovery from the financial crisis, which shed over $10 trillion in value from the world's biggest benchmark. The S&P 500's four-year rally has seen it rise over 130 percent from its 12-year low.
"Getting back to where we were is an important step," said Howard Silverblatt, senior index analyst for S&P Dow Jones Indices. "Markets are volatile, and if you are a long-term investor you should expect declines," Silverblatt commented in a note to investors.
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General Electric currently offers investors an annual dividend of $0.76 a share for a dividend yield of approximately 3.30 percent. The company reported fourth quarter operating earnings of $4.7 billion for the fourth quarter 2012, a year-over-year increase of 13 percent. Shares of General Electric have gained roughly 10 percent year-to-date.
The 3M Company currently offers investors an annual dividend of $2.54 per share for a dividend yield of approximately 2.40 percent. The company reported record full year sales of $29.9 billion for the full year 2012, compared to net sales of $29.6 billion a year ago. Shares of the 3M Company have gained roughly 15 percent year-to-date.
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