Summary

• The forward 4-quarter S&P 500 EPS estimate increased again this week to $342.49, versus last week’s $340.96.
• The PE on the forward estimate is 20.9x this week, versus 20.9x last week.
• The S&P 500 earnings yield (S&P EY) ended the week at the same level as the prior week at 4.78%.

In last week’s post, this blog took a look at the S&P 500's expected revenue growth this year and then looked back at the last Trump Administration tax bill passed in December 2017 and found two

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