On Thursday, the 10-year Treasury yield reached 5.225%, the highest since June 2007, which has led to declines in several dividend-paying ETFs. The First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) is down 9% from its 52-week high and 6.5% in the past month, while the State Street SPDR S & P Dividend ETF (SDY) has fallen 7.7% from its July peak and 7% in the last month.
Among the top dividend payers in the S & P 500, VICI Properties, UPS, General Mills, Kraft Heinz, and Edison International are all experiencing significant stock price declines, with Edison down nearly 30% in a month. In contrast, stocks like Meta Platforms and Moderna have reached new highs, with Meta up 50% from its March low and Moderna up 775% from its November low.
Additionally, several cybersecurity stocks, including Advanced Micro Devices, CrowdStrike, and Fortinet, have also hit new highs. The upcoming durable goods report is anticipated to show a 0.3% decrease, which could further influence market sentiment