The S&P 500 has risen approximately 17.8% year-to-date (including dividends). November was the seventh consecutive month of growth, and we're only about 1% away from all-time highs.
Profits are the main driver.
All the dynamics in 2025 are explained not by speculation, but by fundamentals:
+12.2 pp — earnings growth (EPS)
+4.2 pp — multiple growth (valuation)
+1.4 pp — dividends
That is, 76% of the return came from profits.
Profits are the main driver.
All the dynamics in 2025 are explained not by speculation, but by fundamentals:
+12.2 pp — earnings growth (EPS)
+4.2 pp — multiple growth (valuation)
+1.4 pp — dividends
That is, 76% of the return came from profits.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.