Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
The S&P 500 at 7500 What History Says About Market Peaks
On July 1, 2026, the S&P 500 closed above 7,500 for the first time, with the NASDAQ hitting 26,214 and the Dow at 52,319. Lucas and Luna dig into what this milestone actually means for investors — beyond the headline. Lucas walks through historical data: the S&P 500's price-to-earnings ratio is now hovering around 22, above the 25-year average of 19.5, but still below the dot-com peak of 31. Luna notes that the 10-year Treasury yield is at 4.42%, falling 7 basis points over the past week, which suggests the bond market is not screaming 'bubble.' They debate whether this rally…
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