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But we saved everything 🙂.
Gunjan Banerji reports that stocks have become cheaper even as the S&P 500 has reached new record highs.
She cites commentary from Ed Yardeni, who observes that S&P 500 forward earnings have risen twice as fast as the index itself so far this year, suggesting improved earnings outlook relative to stock prices.
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Earlier this year, Banerji reported that the S&P 500 equal weighted index jumped 10.8% over five days, its biggest such gain since April 2020. She also covered a rise in data center construction outlays, which hit an annual rate of $68.3 billion in June, up $21.5 billion from the prior year. These developments reflect ongoing activity across key segments of the U.S. market.