Stocks hit 30th record close of 2024 with high valuations, historic data on stretched valuations

From Yahoo Finance: 2024-06-17 17:37:04

The S&P 500 is trading at more than 20 times its forward earnings, leading some to believe valuations are too rich. However, Evercore ISI’s Julian Emanuel raised his year-end target for the index to 6,000 from 4,750, suggesting high valuations can persist. Despite this, historical data shows stocks haven’t been expensive for as long as in past rallies, with returns lagging behind previous stretched valuations.



Read more at Yahoo Finance: Stocks zoom higher as S&P 500 notches 30th record close of 2024