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Economic Review: June 2024

Equity investors and the Fed have different opinions on inflation, allowing valuations to remain elevated in the face of persistent inflation. Earnings have been solid, but trailing price-to-earnings (P/E) ratios…

Concentration Conundrum—Lessons from the History of S&P 500 Giants

Seven stocks have driven the S&P 500’s 2023 returns. These companies have been dubbed the Magnificent Seven—Apple, Microsoft, Alphabet, Amazon.com, NVIDIA, Meta Platforms, and Tesla. While the largest five stocks…

What's Driving the Increase in Valuations?