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The S&P 500's first five trading days may indicate full-year performance. That doesn't bode well for stocks in 2024. The last time the index fell 1% or more in its first five trading days of.
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According to Goldman, the switch is already on. Looking at dividend and buyback data, for Q1 of 2023, dividends paid by companies in the S&P 500 grew by 8% year over year. However, buybacks have started to slide. First quarter data isn't available yet, but the number of buybacks fell by 11% in Q3 of 2022 and by 21% in Q4.
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