2024年S & P 500提高26%,但高估值可能会将未来收益限制在每年3%左右。 S&P 500 up 26% in 2024, but high valuations may limit future gains to about 3% annually.

在强劲的劳动力市场、冷却的通货膨胀和高公司收入的驱动下,S&P 500取得了显著增长,达到每年26%的年增长率。 The S&P 500 has seen significant growth, up 26% year-to-date, driven by a strong labor market, cooling inflation, and high corporate earnings. 然而,由于前期P/E比率为22.2, 市场被认为是昂贵的,表明今后三年的回报率可能较低——每年约3%。 However, with a forward P/E ratio of 22.2, the market is considered expensive, suggesting potential for lower returns—around 3% annually over the next three years. 从历史上看,当估值高时,市场往往表现不佳,但仍有可能出现出乎意料的积极结果。 Historically, the market tends to underperform when valuations are high, but unexpected positive outcomes are still possible.