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The S&P 500 Still Looks Expensive. The Average Stock Doesn’t.

Por: MarketWatch Business October 07, 2022

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Those moves reflect the Federal Reserve’s efforts to by lifting short-term interest rates and starting to scale back its holdings of long-dated debt. Yields on long-dated debt have risen, reducing the current discounted value of future profits. And still, stock valuations look high. The current earnings multiple on the S&P 500 is just above the 20-year average of 15.4 times, according to . It could remain elevated in historical terms if bond... + full article



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