Board economist Ataman Ozyildirim said the rebound during April was "led by housing permits and the interest rate spread. Labor market conditions also contributed, although consumers' outlook on the economy remains weak. In general, the LEI points to a continuing economic expansion with some upside potential." For investors worried about an overheated stock market, FactSet analyst John Butters had some interesting comments. In his firm's Earnings Insight report on Friday, Butters wrote that "the forward 12-month P/E ratio for the S&P 500 now stands at 14.4, based on
- Shares of JPMorgan Chase (symbol) closed at $52.30 on Friday. The shares trade for 8.9 times the consensus 2014 earnings estimate of $5.94 a share, among analysts polled by Thomson Reuters.
- Capital One Financial (symbol) closed at $60.83, trading for 9.1 times the consensus 2014 EPS estimate of $6.66.
- Morgan Stanley (symbol) closed at $25.19, trading for 9.9 times the consensus 2014 EPS estimate of $2.54.
- Commerce Bancshares (symbol) of Kansas City, Mo. closed at $43.10, trading for 14.8 times the consensus 2014 EPS estimate of $2.92.
-- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn