Narrative Update • Aug 26

Over the last 7 days, the market has risen 1.2%, driven by gains of 3.0% in the Information Technology sector. As for the past 12 months, the market is up 18%. As for the next few years, earnings are expected to grow by 17% per annum.
Has the U.S. Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 28 Aug 2026 | US$77.2t | US$25.2t | US$2.8t | 18.9x | 28x | 3.1x |
| Sun, 26 Jul 2026 | US$73.9t | US$24.4t | US$2.6t | 19x | 28.4x | 3x |
| Tue, 23 Jun 2026 | US$76.1t | US$24.3t | US$2.5t | 18.7x | 30.9x | 3.1x |
| Thu, 21 May 2026 | US$71.6t | US$24.2t | US$2.4t | 18.5x | 29.6x | 3x |
| Sat, 18 Apr 2026 | US$74.1t | US$23.7t | US$2.3t | 19.8x | 32.1x | 3.1x |
| Mon, 16 Mar 2026 | US$69.5t | US$23.7t | US$2.3t | 18.4x | 30.3x | 2.9x |
| Wed, 11 Feb 2026 | US$73.1t | US$23.6t | US$2.3t | 19.5x | 31.8x | 3.1x |
| Fri, 09 Jan 2026 | US$72.6t | US$23.2t | US$2.3t | 19.3x | 31.7x | 3.1x |
| Sun, 07 Dec 2025 | US$72.2t | US$23.1t | US$2.3t | 18.7x | 31.7x | 3.1x |
| Tue, 04 Nov 2025 | US$72.1t | US$23.0t | US$2.3t | 18.2x | 31.5x | 3.1x |
| Thu, 02 Oct 2025 | US$70.6t | US$22.9t | US$2.2t | 19.2x | 32.3x | 3.1x |
| Sat, 30 Aug 2025 | US$68.1t | US$22.9t | US$2.2t | 19.2x | 31.3x | 3x |
| Mon, 28 Jul 2025 | US$66.8t | US$22.6t | US$2.1t | 18.7x | 31.7x | 3x |
| Wed, 25 Jun 2025 | US$63.7t | US$22.5t | US$2.1t | 18.1x | 30.3x | 2.8x |
| Fri, 23 May 2025 | US$60.9t | US$22.4t | US$2.1t | 17.8x | 29.1x | 2.7x |
| Sun, 20 Apr 2025 | US$54.8t | US$21.9t | US$2.1t | 16.3x | 26.4x | 2.5x |
| Tue, 18 Mar 2025 | US$58.7t | US$21.9t | US$2.0t | 17.6x | 28.7x | 2.7x |
| Thu, 13 Feb 2025 | US$63.8t | US$21.8t | US$2.0t | 18.3x | 31.3x | 2.9x |
| Sat, 11 Jan 2025 | US$62.2t | US$22.0t | US$1.9t | 18.2x | 32.1x | 2.8x |
| Mon, 09 Dec 2024 | US$64.4t | US$22.0t | US$1.9t | 19.3x | 33.3x | 2.9x |
| Wed, 06 Nov 2024 | US$59.4t | US$21.8t | US$1.9t | 18.3x | 31.4x | 2.7x |
| Fri, 04 Oct 2024 | US$59.3t | US$21.5t | US$1.9t | 18.2x | 31.8x | 2.8x |
| Sun, 01 Sep 2024 | US$58.3t | US$21.5t | US$1.9t | 18.2x | 31.3x | 2.7x |
| Tue, 30 Jul 2024 | US$56.9t | US$21.4t | US$1.9t | 18x | 30.7x | 2.7x |
| Thu, 27 Jun 2024 | US$56.5t | US$21.3t | US$1.8t | 16.6x | 30.8x | 2.7x |
| Sat, 25 May 2024 | US$54.6t | US$21.3t | US$1.8t | 17.2x | 29.9x | 2.6x |
| Mon, 22 Apr 2024 | US$51.6t | US$21.1t | US$1.8t | 16.5x | 27.9x | 2.4x |
| Wed, 20 Mar 2024 | US$53.8t | US$21.1t | US$1.8t | 16.5x | 29.2x | 2.6x |
| Fri, 16 Feb 2024 | US$52.2t | US$21.0t | US$1.8t | 16.6x | 29.1x | 2.5x |
| Sun, 14 Jan 2024 | US$50.1t | US$21.0t | US$1.8t | 16.7x | 28.5x | 2.4x |
| Tue, 12 Dec 2023 | US$48.4t | US$21.0t | US$1.8t | 16.4x | 27.6x | 2.3x |
| Thu, 09 Nov 2023 | US$45.8t | US$21.0t | US$1.7t | 15.3x | 26.6x | 2.2x |
| Sat, 07 Oct 2023 | US$45.4t | US$21.0t | US$1.7t | 15.1x | 26.4x | 2.2x |
| Mon, 04 Sep 2023 | US$47.6t | US$20.9t | US$1.7t | 15.9x | 27.8x | 2.3x |
27.8x
Which sectors have driven the changes within the U.S. Market?
| US Market | 1.16% | |
| Tech | 3.01% | |
| Materials | 2.67% | |
| Financials | 1.79% | |
| Telecom | 1.63% | |
| Healthcare | -0.20% | |
| Industrials | -0.48% | |
| Consumer Staples | -0.70% | |
| Real Estate | -0.90% | |
| Consumer Discretionary | -1.02% | |
| Utilities | -1.32% | |
| Energy | -1.92% | |
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| NVDA NVIDIA | US$227.98 | 5.1% +US$252.8b | 26.5% | PE28.5x | Tech | |
| MSFT Microsoft | US$505.06 | 4.5% +US$162.0b | -0.3% | PE28x | Tech | |
| SPCX Space Exploration Technologies | US$140.87 | 5.1% +US$93.2b | n/a | PS83x | Telecom | |
| META Meta Platforms | US$571.10 | 4.6% +US$64.4b | -24.0% | PE21.4x | Telecom | |
| AAPL Apple | US$314.58 | 1.1% +US$47.9b | 35.3% | PE35.6x | Tech |