Stock Market Soaring Into Bubbly Territory

Today’s news:

S&P 500 soars above 3,000 for first time as Fed Chair Jerome Powell hints interest rate cut likely in July

So are stocks overvalued? Beats me. I’m not the oracle at Delphi, after all. But here’s an old-school way of looking at things:

The 10-year trailing PE ratio (aka Robert Shiller’s CAPE) is pretty high these days, though it’s fallen over the past few months. Be careful out there.

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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