These Forgotten Dividend Powerhouses Are Leading the Stock Market Higher Right Now

The stock market has been volatile lately, but all concerns seemed to evaporate on Wednesday. Favorable comments from Fed chair Jay Powell continued to make investors more comfortable with the current state of affairs, and that helped markets recover from some choppy sessions earlier in the week. As of 2 p.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) had soared 411 points to 31,949, which will be an all-time high if it closes there. The S&P 500 (SNPINDEX: ^GSPC) was up 40 points to 3,922, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had more modest gains of 81 points to 13,546.

When people are nervous about the market, they often look for stocks that pay high dividends. When it just so happens that those stocks are in an area that is enjoying a big rebound, that just bodes all the better for their prospects. Today, energy stocks are once again in the spotlight, and powerhouse dividend payers ExxonMobil (NYSE: XOM) and Chevron (NYSE: CVX) are among the industry's giants leading the entire stock market higher.

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Source Fool.com