Has the U.S. Market valuation changed over the past few years?

Investors are relatively neutral on the American market at the moment, indicating that they expect earnings will grow in line with historical growth rates. The market is trading at a PE ratio close to its 3-year average PE ratio of 30.1x.

Which sectors have driven the changes within the U.S. Market?

Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 65.4x. The market's confidence is likely because analysts are expecting annual earnings growth of 18.3%, which is higher than its past year's earnings growth of 12.6% per year. The Financials sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 17.6x.

U.S. Market Analysis & Valuation - Dow Jones, Nasdaq, S&P 500 Summary

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 28 Jun 2026	US$79.3t	US$24.3t	US$2.5t	19.1x	31.9x	3.3x
Tue, 26 May 2026	US$73.2t	US$24.2t	US$2.5t	18.6x	29.7x	3x
Thu, 23 Apr 2026	US$74.5t	US$23.7t	US$2.3t	19.7x	32.1x	3.1x
Sat, 21 Mar 2026	US$69.1t	US$23.7t	US$2.3t	18.1x	30x	2.9x
Mon, 16 Feb 2026	US$71.9t	US$23.6t	US$2.3t	19.6x	31.4x	3.1x
Wed, 14 Jan 2026	US$73.4t	US$23.1t	US$2.3t	19.3x	32.1x	3.2x
Fri, 12 Dec 2025	US$72.4t	US$23.1t	US$2.3t	19.1x	31.7x	3.1x
Sun, 09 Nov 2025	US$70.5t	US$23.1t	US$2.3t	18.1x	31.1x	3.1x
Tue, 07 Oct 2025	US$71.0t	US$22.9t	US$2.2t	19.2x	32.4x	3.1x
Thu, 04 Sep 2025	US$67.4t	US$22.9t	US$2.2t	19x	30.9x	2.9x
Sat, 02 Aug 2025	US$66.3t	US$22.7t	US$2.2t	18x	30.8x	2.9x
Mon, 30 Jun 2025	US$64.0t	US$22.5t	US$2.1t	18.2x	30.5x	2.8x
Wed, 28 May 2025	US$60.5t	US$22.4t	US$2.1t	18x	28.9x	2.7x
Fri, 25 Apr 2025	US$55.9t	US$21.9t	US$2.1t	16.9x	26.9x	2.5x
Sun, 23 Mar 2025	US$59.1t	US$21.9t	US$2.0t	17.5x	28.8x	2.7x
Tue, 18 Feb 2025	US$64.5t	US$21.9t	US$2.0t	18.5x	31.6x	3x
Thu, 16 Jan 2025	US$61.5t	US$22.0t	US$1.9t	18.7x	31.6x	2.8x
Sat, 14 Dec 2024	US$63.9t	US$22.0t	US$1.9t	19.1x	33x	2.9x
Mon, 11 Nov 2024	US$62.6t	US$21.9t	US$1.9t	19x	33.1x	2.9x
Wed, 09 Oct 2024	US$59.4t	US$21.6t	US$1.9t	18.2x	31.9x	2.8x
Fri, 06 Sep 2024	US$56.9t	US$21.5t	US$1.9t	17.7x	30.5x	2.6x
Sun, 04 Aug 2024	US$55.4t	US$21.5t	US$1.9t	17.5x	29.6x	2.6x
Tue, 02 Jul 2024	US$56.5t	US$21.3t	US$1.8t	16.7x	30.8x	2.6x
Thu, 30 May 2024	US$54.9t	US$21.3t	US$1.8t	16.9x	30.1x	2.6x
Sat, 27 Apr 2024	US$53.1t	US$21.2t	US$1.8t	16.6x	28.8x	2.5x
Mon, 25 Mar 2024	US$54.4t	US$21.1t	US$1.8t	16.9x	29.5x	2.6x
Wed, 21 Feb 2024	US$51.9t	US$21.0t	US$1.8t	16.3x	28.9x	2.5x
Fri, 19 Jan 2024	US$49.9t	US$21.0t	US$1.7t	16.6x	28.7x	2.4x
Sun, 17 Dec 2023	US$49.7t	US$21.0t	US$1.8t	16.7x	28.3x	2.4x
Tue, 14 Nov 2023	US$45.9t	US$21.0t	US$1.7t	15.4x	26.5x	2.2x
Thu, 12 Oct 2023	US$46.0t	US$20.9t	US$1.7t	15.3x	26.9x	2.2x
Sat, 09 Sep 2023	US$46.9t	US$20.9t	US$1.7t	15.5x	27.3x	2.2x
Mon, 07 Aug 2023	US$47.8t	US$20.9t	US$1.6t	15.9x	29.4x	2.3x
Wed, 05 Jul 2023	US$47.2t	US$21.0t	US$1.7t	15.6x	28.4x	2.3x


US Market	-2.52%
Healthcare	7.49%
Real Estate	4.22%
Utilities	3.32%
Consumer Staples	1.13%
Energy	0.70%
Financials	0.55%
Industrials	-0.27%
Materials	-2.18%
Consumer Discretionary	-2.93%
Tech	-5.78%
Telecom	-8.43%

Company	Last Price	7D	1Y	Valuation	Sector
LLY Eli Lilly	US$1.21k	10.0% +US$97.7b	55.8%	PE42.6x	Healthcare
ABBV AbbVie	US$253.35	17.0% +US$65.1b	39.0%	PE124.5x	Healthcare
JNJ Johnson & Johnson	US$254.66	11.5% +US$63.2b	67.1%	PE29.1x	Healthcare
MRK Merck	US$128.66	13.0% +US$36.5b	62.7%	PE35.6x	Healthcare
UNH UnitedHealth Group	US$427.89	6.7% +US$24.5b	38.4%	PE32.3x	Healthcare

Announcement • Jun 27

Johnson & Johnson Presents New IMAAVY Data at European Academy of Neurology 2026 Congress Reinforcing Sustained Disease Control in Generalized Myasthenia Gravis

Johnson & Johnson announced new data across 12 abstracts at the European Academy of Neurology 2026 Congress that offer additional insight into the use of IMAAVY (nipocalimab-aahu) throughout clinically relevant points in the generalized myasthenia gravis (gMG) treatment journey. The analyses include adults with anti-AChR or anti-MuSK antibody-positive gMG who were early in their disease course or had lower baseline symptom burden – providing insight into the potential importance of addressing pathogenic immunoglobulin G (IgG) early in disease progression where use of advanced therapies may be less common. Additional research to be shared include outcomes shortly after common infections, which are a known cause of disease exacerbations in gMG, and plans to address evidence gaps in use of IMAAVY during pregnancy. Post-hoc analyses from the pivotal Vivacity-MG3 study in adults with antibody positive gMG (spanning anti-AChR+ and anti-MuSK+) will be presented which provide new insights that could inform clinical care including: Patients early in their disease course (within five years of diagnosis) show improved outcomes: IMAAVY plus standard of care (SOC) showed greater reductions in MG-ADL scores versus placebo plus SOC (-4.9 vs. -2.7) at Week 24, with a greater proportion of patients receiving IMAAVY also achieving the stringent measure of sustained meaningful clinical improvement (MCI) for =20 weeks compared to placebo. IMAAVY is the only FcRn blocker evaluated to demonstrate sustained MCI over this duration in the double-blind phase of its pivotal study. Patients with lower baseline symptom burden sustain MCI: IMAAVY plus SOC decreased symptom severity and improved daily functioning at Week 24 versus placebo plus SOC (MG-ADL scores of -4.5 vs. -2.3). A greater proportion of patients receiving IMAAVY also achieved sustained MCI in this setting, adding further insights for healthcare professionals into the use of IMAAVY in patients with less severe disease. Patients maintain control after contracting common infections: In the IMAAVY arm, observed symptom improvements were maintained within two weeks after patients contracted common infections, providing data on the use of IMAAVY after periods when the likelihood of disease exacerbations is elevated. Safety and tolerability were consistent across all patients in the study and across other nipocalimab studies. The overall incidence of adverse events (AEs) was 84% in both the IMAAVY and the placebo arms and serious adverse events (SAEs) were 9% in the IMAAVY arm compared to 14% in the placebo arm. Ongoing evidence generation in gMG will also be highlighted, including: Innovative PETUNIA study design: PETUNIA is designed to generate real-world safety data on pregnancy, maternal, and infant outcomes following exposure to IMAAVY during pregnancy. By leveraging prospective and retrospective reports the study aims to capture more detailed information on outcomes in this setting, helping to expand the evidence base beyond the traditional post-marketing safety monitoring requirements and support clinical decision-making in an area where current evidence is limited. IMAAVY is approved for adult and pediatric patients (12 years of age and older) with anti-AChR or anti-MuSK antibody positive gMG by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). IMAAVY, an immunoselective neonatal Fc receptor (FcRn) blocker, is designed to target and reduce pathogenic immunoglobulin G (IgG) autoantibodies associated with generalized myasthenia gravis (gMG). Post-hoc analyses from the pivotal Vivacity-MG3 study in adults with antibody positive gMG (spanning anti-AChR+ and anti-MuSK+) will be presented which provide new insights that could inform clinical care including: Patients early in their disease course (within five years of diagnosis) show improved outcomes: IMAAVY plus standard of care (SOC) showed greater reductions in MG-ADL scores versus placebo plus SOC (-4.9 vs. -2.7) at Week 24, with a greater proportion of patients receiving IMAAVY also achieving the stringent measure of sustained meaningful clinical improvement (MCI) for =20 weeks compared to placebo. IMAAVY is the only FcRn blocker evaluated to demonstrate sustained MCI over this duration in the double-blind phase of its pivotal study. Patients with lower baseline symptom burden sustain MCI: IMAAVY plus SOC decreased symptom severity and improved daily functioning at Week 24 versus placebo plus SOC (MG-ADL scores of -4.5 vs. -2.3). A greater proportion of patients receiving IMAAVY also achieved sustained MCI in this setting, adding further insights for healthcare professionals into the use of IMAAVY in patients with less severe disease. Patients maintain control after contracting common infections: In the IMAAVY arm, observed symptom improvements were maintained within two weeks after patients contracted common infections, providing data on the use of IMAAVY after periods when the likelihood of disease exacerbations is elevated. Safety and tolerability were consistent across all patients in the study and across other nipocalimab studies. The overall incidence of adverse events (AEs) was 84% in both the IMAAVY and the placebo arms and serious adverse events (SAEs) were 9% in the IMAAVY arm compared to 14% in the placebo arm. Ongoing evidence generation in gMG will also be highlighted, including: Innovative PETUNIA study design: PETUNIA is designed to generate real-world safety data on pregnancy, maternal, and infant outcomes following exposure to IMAAVY during pregnancy. By leveraging prospective and retrospective reports the study aims to capture more detailed information on outcomes in this setting, helping to expand the evidence base beyond the traditional post-marketing safety monitoring requirements and support clinical decision-making in an area where current evidence is limited. IMAAVY is approved for adult and pediatric patients (12 years of age and older) with anti-AChR or anti-MuSK antibody positive gMG by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). IMAAVY is an immunoselective treatment designed to target, bind with high affinity, and block the neonatal Fc receptor (FcRn), reducing circulating immunoglobulin G (IgG) antibodies that drive disease while also preserving key immune functions. IMAAVY is currently approved for the treatment of generalized myasthenia gravis (gMG) in adults and pediatric patients 12 years of age and older who are anti-acetylcholine receptor (AChR) or anti-muscle-specific tyrosine kinase (MuSK) antibody positive. Nipocalimab is being investigated across three key segments in the autoantibody space including Rheumatologic diseases, Rare Autoantibody diseases, and Maternal Fetal diseases mediated by maternal alloantibodies, in which blockade of IgG binding to FcRn in the placenta is believed to limit transplacental transfer of maternal alloantibodies to the fetus.

U.S. Market Analysis & Valuation

Market Valuation and Performance

Sector Trends

Top Stock Gainers and Losers

Market Insights

Finding dividends that actually last

Latest News

Eli Lilly And Company Receives Positive Opinion From CHMP For Jaypirca For Treatment Of Adults With Chronic Lymphocytic Leukemia Across All Lines Of Therapy

AbbVie Inc. to Report Q2, 2026 Results on Jul 31, 2026

AAPL: AI Assistant Reset And Pricing Power Will Drive Next Upside Phase

Johnson & Johnson Presents New IMAAVY Data at European Academy of Neurology 2026 Congress Reinforcing Sustained Disease Control in Generalized Myasthenia Gravis

Chief Legal & Corporate Affairs Officer notifies of intention to sell stock

Oracle Corporation, Annual General Meeting, Aug 25, 2026

Corning Secures Multibillion-Dollar AI Fiber Deals With Amazon Meta and Nvidia

Thermo Fisher Divests Microbiology Unit as Portfolio Reshaping Accelerates

IBM Unveils World's First Sub-1 Nanometer Chip Technology Featuring Nanostack 3D Architecture

Jamendo SA Announces Filing of Lawsuit Against NVIDIA Corporation in the United States

Alphabet Launches Record $84.75 Billion Equity Raise for AI Infrastructure Expansion

Market Brief: SpaceX's -35% One-Week Erased More Wealth Than Most Billionaires Ever Built

Arm Holdings Delivers Record FY2026 Results and Secures Over $2 Billion in AI Orders

Amazon to Invest $200 Billion in AI Chips Data Centers and Satellite Expansion for 2026

UnitedHealth Plans $3 Billion AI Spend and Moves to Settle FTC Insulin Case