Want to buy a unit of the S&P 500? Then that's going to cost you.
Stocks are lurching toward fresh records to commence the first trading day in 2020, but that advance has raised some questions about the run-up in values for broad-market U.S. equity benchmarks.
Data from the Federal Reserve Bank of St. Louis estimates that the average worker needed to work a record 109.75 hours, based on its most recent employment data, as of Dec. 6 : — Holger Zschaepitz January 2, 2020 To be sure, an average investor would most likely buy the exchange-traded fund SPDR S&P 500 ETF Trust SPY, +0.94%, one of the most popular ETFs, to gain broad exposure to the S&P 500, with a unit of the index-tracking fund at $323.10 on Thursday midday.
According to a recent Gallup poll, only 55% of Americans said they were invested in the stock market “either in an individual stock, a stock mutual fund, or in a self-directed 401 or IRA.”Meanwhile, concerns about stock-market values have also accelerated as some have expressed consternation about rising prices that haven't recently been supported by earnings, a phenomenon that Wall Street analysts refer to as multiple expansion.
“The key on this front is to see how Q4 earnings season plays out. This year’s gains in the equity market were driven nearly entirely by multiple expansion. In order to see gains in the year ahead, we’ll likely need earnings to pick up the slack,” Bespoke researchers wrote.
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