Swelling stock valuations impede market rise

April 2, 2015 1:10 PM

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The stock market’s sudden inability to climb higher and make new highs might have something to do with the fact that valuations are no longer cheap.

The stock market’s price-to-earnings ratio based on projected 2015 earnings, a common valuation metric tool used by Wall Street to gauge if the market is undervalued, fairly valued or overvalued, is now trading above its five- and 10-year average, according to data from Howard Silverblatt, senior in...

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