Quintuple play. S&P 500 at 25x earnings: Market melt-up or next big risk? [Video]
|The September swoon? Nowhere in sight. On September 19, 2025, we got a quintuple play — the Dow, S&P 500, Nasdaq, Russell 2000, and the Magnificent 7 all closed at fresh record highs. But are we witnessing a market melt-up before the inevitable correction?
Here’s what you need to know:
- S&P trades at 25x earnings — well above the historical average.
- Tech and its derivatives led the charge, with semis, quantum, and AI names ripping higher.
- RSIs show the Nasdaq, Russell, and Mag 7 are overbought, while other indexes still have room to run.
- Bond yields rose as jobless claims surprised, with the 10-year at 4.12%.
- Oil flat, Gold cooling off after a big run.
- Europe edges higher on the new $42B Tech Prosperity Deal between the U.S. and U.K.
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