This tile is stale: the value shown is the last
one the source published, never a fabricated current number.
The full history
1947
high 228.70 · low 32.22 · now 218.14 · 12 recessions shaded 2026
How it is read
What it measures
valuation altitude
Confidence
ROBUST : a primary official series, mechanically reported.
Reliability (DRS)
DRS 95: Computed: nonfinancial corporate equities outstanding (Fed Z.1, NCBEILQ027S) over nominal GDP, percent. Both inputs official, quarterly since 1947. Trend-dominated: a steadily trending series always prints high-z eventually; the state reads how far along the trend, vs the recent decade. Disclosed.
Where it comes from
DERIVED ↗Every number on this site is reproducible from this primary source.
What it read at past stress points
Lehman, Sep 2008
92.75
· CALM
Q4-2018 selloff
133.51
◆ WATCH
Curve inversion, Aug 2019
150.95
◆ WATCH
COVID crash, Mar 2020
128.76
· CALM
Questions it helps answer
The Ledge: How high is the market, and what is under it?