Dividend Market Wrap-Up for July 13 (CSX, AA, JPM, BAC, PNC, GS, more)

The market couldn’t wait to get the earnings-related ramp started as the buzz centered around the early results out of CSX Corp ( CSX ) and Alcoa ( AA ) this morning. It would be great to see a steady stream of good news from corporate America, but we will be taking a deeper look to see if the news is indeed as good as analysts will be gushing about. Share buyback announcements tend to coincide with earnings reports at times, but we would of course prefer to see companies lift dividend payouts, rather than using excess cash to buy back shares, including options that are issued to higher-level executives. Certainly not as rewarding to investors as most share buyback prophets would have you believe. Taking a look at today’s tape, financials pushed out in front on the back of a big upgrade call from brokerage firm Susquehanna. Names moving up on call included JP Morgan ( JPM ) , Morgan Stanley ( MS ) , and Goldman Sachs ( GS ) . Other names in the space that joined the rally included PNC Financial ( PNC ) and Blackrock ( BLK ) . The positive sentiment comes despite Federal Reserve Chairman Ben Bernanke once again trying to step up pressure on banks to begin lending more to smaller firms, which employ at least half of American workers. The jobs situation is something we will not ignore, and we see this becoming a bigger part of the earnings picture if consumer spending continues to contract (which it likely will). On a volume note, we did see a nice pick up on the NASDAQ with 4.64 Billion shares traded, while the NYSE came in at a somewhat respectable, but still somewhat light total of 4.64 Billion shares. We will continue to monitor out current dividend recommendations closely and are also keeping an eye out on dividend stocks that could be attractive moving forward currently not on our Best Dividend Stocks list. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Dividend Market Wrap-Up for July 13 (CSX, AA, JPM, BAC, PNC, GS, more)

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