S&P 500 Nears P/E High from 2020 with 17% YTD Gain; EPS Estimates Rise

The S&P 500 Index (SPX) is nearing its price-to-earnings (P/E) high from 2020, reflecting significant market activity. The index has risen approximately 17% year-to-date. Forward 12-month earnings per share (EPS) estimates for the SPX are currently at $258 and increasing. Additionally, the 2026 EPS estimate has been revised upward to $316 from $315 a month ago. The Dec 20 straddle is also around 6.8%. Investors are advised to stick to their long-term plans despite the active tactical trades in the market.