As of Wednesday, the S&P 500 traded at 19 times 12-month forward earnings, the highest the P/E level has been since May 23, 2002.
The S&P 500 valuation on Wednesday passed 19 times forward earnings, the first time it has hit that mark since May 2002.Market valuations continue to get richer as the bull run nears its 11-year anniversary, with one measure at its highest point in nearly 18 years.
As of Wednesday, the S&P 500 traded at 19 times 12-month forward earnings, the highest the P/E level has been since May 23, 2002, according to FactSet calculations released Friday. While that is high compared to historical averages, it still sits below the 20-year peak of 24.4 set on March 24, 2000, just before the dotcom bubble burst.
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