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Stock Market Valuation Perspectives

November 25, 2024 • Posted in Equity Premium, Fundamental Valuation

Is U.S. equity market valuation outrunning its productive value? For perspective, we compare the trajectories of S&P 500 (SP500) index, earnings and dividends over recent decades and look at some potential explanations for divergences. Using quarterly SP500 data and 10-year U.S. Treasury note (T-note) yield during March 1988 through September 2024 and Shiller data as available through October 2024, we find that: (more…)

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