Fundamental, Sentiment,^& Technical
17 19 21 23 25 1/21 1/29 S&P 500 P/E vs. CITIGROUP ECONOMIC SURPRISE INDEX (percent) Economic Surprise Index S&P 500 Forward P/E* yardeni.com Source: Standard & Poor’s, I/B/E/S data by Refinitiv, and Citigroup. * Average weekly price divided by 52-week forward consensus expected operating earnings per share. Figure 6. Economic Surprise Index
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