The stock market in 2024 has been a mixed bag so far, with even the “Magnificent 7” starting to show some cracks. While some high flyers of 2023 are still going strong, like Nvidia (NVDA), former growth stock favorites like Tesla (TSLA) have been taking it on the chin. Meanwhile, the Fed looks determined to press ahead with multiple interest rate cuts this year, even as inflation remains stubbornly high.
Against this backdrop, many investors are now seeking out value and stability in this artificial intelligence-fueled market. Known for its 65 years of consistent dividend growth, and a wide-ranging portfolio that includes everything from Post-It Notes to advanced medical tech, 3M Company (MMM) is an S&P 500 Index ($SPX) component that has earned the mantle of Dividend King for its commitment to paying back shareholders.
