Tom Lee Tracker (Not actually Tom)(@TomLeeTracker):TOM LEE: THE STOCK MARKET IS CHEAPER TODAY THAN IT WAS IN JANUARY The S&P is up almost 10%, yet valuations have actually come down: - At the start of the year the street looked for 2027 earnings of 350, now it's 400, a $48 increase - The PE on 2027 earnings was 19.4 in January, and it's now 18.4, a full turn cheaper - Earnings rose faster than price, so the market is cheaper than on January 9th even with the S&P up nearly 10%

Tom Lee Tracker (Not actually Tom)

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Daily updates on Tom Lee’s market insights/research, the Fundstrat GRNY ETF, and BMNR. | Not affiliated with Tom Lee, Fundstrat or BMNR.

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Tom Lee Tracker (Not actually Tom)@TomLeeTracker

2026.07.09 16:00

TOM LEE: THE STOCK MARKET IS CHEAPER TODAY THAN IT WAS IN JANUARY The S&P is up almost 10%, yet valuations have actually come down: - At the start of the year the street looked for 2027 earnings of 350, now it's 400, a $48 increase - The PE on 2027 earnings was 19.4 in January, and it's now 18.4, a full turn cheaper - Earnings rose faster than price, so the market is cheaper than on January 9th even with the S&P up nearly 10%