U.S. Equity Index P/E Valuations vs. History

Risk appetite shows little sign of cooling. The Nasdaq 100 trades at 27 times forward earnings, with the Russell 2000 at 26 and the S&P 500 at 21. Valuations are stretched, but investors are still betting on more upside.

Image: Goldman Sachs Global Investment Research

U.S. Equity Index P/E Valuations vs. History