Did someone forget to tell the stock market to crash? Amid a string of bank failures and bailouts this year, the S&P 500 index has somehow sneaked nearly 4% higher, not counting dividends.
I suppose we can call that a bounce back from last year’s 20% price drop. Then again, valuations don’t look especially bounceworthy. The index trades at an ambitious 18 times the earnings projected for this year.
Source: https://www.barrons.com/articles/banks-economy-stock-market-33d2a55d?siteid=yhoof2&yptr=yahoo