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As the stock market keeps hitting new highs, the spreads of high-yield bonds and junk bonds has been narrowing and narrowing. We even recently highlighted that these spreads were reaching what submariners would call crush-depth at what feels like historic lows. The head equity strategist at J.P. Morgan Chase & Co. (NYSE: JPM), Thomas Lee, says the trend has continued and investors should buy stocks now, not sell in May and go away.

In a new report out today, the team at J.P. Morgan has released a diverse list of stocks that investors can buy now despite the strong market rally.

Domtar Corp. (NYSE: UFS) leads off the J.P. Morgan list. This paper products company raised its dividend 22% yesterday. The Thomson/First Call estimate for the stock is $90. Investors are paid a 2.70% dividend. It is trading under $70, and the target price represents an almost 30% gain.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) makes the grade. One of the world’s leading generic pharmaceutical companies, Teva recently reaffirmed its 2013 outlook, despite reporting just in-line first-quarter earnings. The consensus for the stock is $43.

CA Technologies (NASDAQ: CA) is a stock to buy now. CA Technologies provides enterprise information technology (IT) management software and solutions in the United States and internationally. The consensus price target for the stock is $26. Investors receive a solid 3.80% dividend.

Apple Inc (NASDAQ: AAPL) is on the J.P. Morgan radar. Following the successful completion of a massive debt issuance, Apple is preparing a large capital return to shareholders. The consensus estimate for the stock is $538. Apple pays investors a 2.80% dividend.

Comtech Telecommunications Corp. (NASDAQ: CMTL) is one company continuing to garner business from the U.S. military. The communications company was awarded a multimillion dollar contract from the Navy last month. The consensus price objective for the stock is $29. Comtech pays shareholders a very solid 4.60% dividend.

St. Jude Medical Inc. (NYSE: STJ) is the only medical device maker to make the J.P. Morgan list of stocks to buy. The consensus estimate for the stock is $46. St. Jude pays a 2.40% dividend.

Celadon Group Inc. (NYSE: CGI) offers a range of truckload transportation services, including long-haul, regional, dedicated, less-than-truckload, intermodal and logistics services. The consensus for this stock is $24.

Prudential Financial Inc. (NYSE: PRU) also made Jim Cramer’s list of top stocks to buy today. The consensus price target is $66. Prudential pays shareholders a 2.70% dividend.

Best Buy Co. Inc. (NYSE: BBY) is a big-box retailer that makes the list. Investors applauded this week as the company sold its 50% stake in Best Buy Europe for $775 million, yet this one remains a turnaround story. The consensus price target for the stock is $25. Investors receive a 2.60% dividend.

Wells Fargo & Co. (NYSE: WFC) is the only large money center bank on the J.P. Morgan list. The bank has become one of the leading mortgage providers in the United States, and Warren Buffett is the largest shareholder. The consensus price target for the stock is $41. The bank pays a 3.20% dividend.

The common thread with the stocks to buy from J.P. Morgan is that almost all of them pay a reasonable dividend. We have stressed to readers that investment success is often determined by total return. Purchasing stocks that pay and consistently raise their dividends vastly improves an investor’s chance for success.