With less than an hour left in Friday morning trading, as I write this, investors appear satisfied with leaving their trading until next week. And why not? The S&P 500 looks set to deliver its eighth winning week out of the last 10.
It’s been an interesting year in the markets, with a few stocks generating much of the year-to-date returns. According to the Associated Press’s Stan Choe, the “Magnificent Seven,” which includes Apple (AAPL) and Microsoft (MSFT), trade for 44 times their trailing 12-month earnings. At the same time, the other 496 stocks have a more reasonable multiple of 17x earnings.
