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Goldman Sachs: It has indeed been a long time since the last adjustment, but the US stock market is not expensive.
Goldman Sachs pointed out that the last time the S&P 500 index fell by more than 2% in a single day was in December 2022. Since then, the US stock market has been on an overall upward trend and has continued for 376 days. Moreover, the US stock market is not currently in an 'overvalued' state, with the P/E ratio of the top 10 market cap stocks in the S&P 500 index being about 30 times, compared to about 47 times during the peak of the 2000 internet-related bubble.
Overnight in US stocks | S&P 500 Index, Nasdaq hit new record highs again. Nvidia (NVDA.US) topped the market cap of all companies.
According to the Zhixun Finance and Economics app, on Tuesday, the three major indices closed higher, with the S&P 500 index and the Nasdaq hitting new all-time highs. Nvidia surpassed Microsoft as the world's largest company by market cap. On Wednesday (June 19th), which is the June holiday in the United States, the U.S. stock market and other American financial markets will be closed. [U.S. Stock Market] as of the close, the Dow rose 56.76 points, or 0.15%, to 38,834.86 points; the Nasdaq rose 5.21 points, or 0.03%, to 17,862.23 points; and the S&P 500 index rose 13.80 points, or 0.25%, to 5,487.03 points. Apple (AAP
No Stopping S&P 500's Record Rally as Nvidia Beats Microsoft| Wall Street Today
There's no stopping the S&P 500's record rally. As usual, the benchmark got a boost from Nvidia, which bumped off Microsoft as the world's most valuable company.
S&P 500 Notches Fresh Record as Nvidia Unseats Microsoft as Top Stock
The S&P 500 notched another intra-day record, as semiconductors continued to hog the limelight, with Nvidia bumping off Microsoft as the world's most valuable company.
Fed Watch: FOMC Officials Reiterate Patience, Data Dependence, Before Cutting Rates
Fed Governor Adriana Kugler (voter) said that it is possible that the FOMC could cut rates later in 2024 but said that currently inflation is too high and that further evidence that the recent improve
Fed's Kugler Sees Rate Cut This Year and Says Economy Is 'Moving in Right Direction'
Federal Reserve Gov. Adriana Kugler on Tuesday said "it will likely become appropriate" to cut U.S. interest rates later this year if the economy continues to slow and inflation wanes as she expects.