Financial Times quoting DataTrek Research:
…. “DataTrek notes that the resilience of the S&P 500 around the 2,500 level reflects the view of there being little long-term damage to the earnings prowess of US blue-chips once the pandemic abates. Its strategists note: “We’re trading at 20x the trailing 10-year average S&P earnings of $122/share, not the 10x we saw in 2009″….
Read the full article here in the Financial Times!