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

Risk appetite is still holding up. The Russell 2000 trades at 26 times forward earnings, versus 25 for the Nasdaq 100 and 20 for the S&P 500. It’s far from cheap, but demand for equities has not faded yet.

Image: Goldman Sachs Global Investment Research

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