(Re) Open For Business
Here we are halfway through 2021. Restaurants and business throughout the nation are re-opening. How is this return to normal playing out in the economy and stock and bond markets?
As of June 30th, according to S&P Dow Jones Indices, the S&P 500 index of US stocks is up 15.2% year-to-date (YTD). The stock index has an average dividend yield of 1.4%. The S&P US Aggregate Bond Index, is down -1.4% YTD. Â The bond index has a yield-to-maturity of 1.3%.
The chart below highlights recent prices, total returns (total return always includes dividends), dividend yields, and trailing and forward-looking P/E’s (price-to-earnings ratio) for several S&P Dow Jones Indices.
|
Market |
Closing Price 12/31/2020 |
Closing Price 06/30/2021 |
YTD Tot. Return 06/30/2021 |
Yield % |
Trailing Twelve Mo P/E |
Forward Estimate P/E |
|
S&P 500 |
3,756 | 4,297 | 15.2% | 1.4% | 30.9x | 21.8x |
| DJIA | 30,606 | 34,502 | 13.7% | 1.8% | 28.5x |
20.2x |
| S&P US Aggregate Bond Index | -1.4% | 1.3% |
|
*Statistics for S&P 500 index, DJIA index, and S&P US Aggregate Bond index from S&P Dow Jones Indices.
