Major stock indexes finished mixed Thursday, with the blue-chip Dow Jones Industrial Average rising but the tech-heavy Nasdaq pulled lower by data-storage shares.

In comparison, the S&P 500's Shiller P/E Ratio is based on average inflation-adjusted EPS over the previous 10 years. Accounting for a decade's worth of EPS history minimizes the impact of recessions and shock events and ensures that the Shiller P/E remains useful during all economic climates.

Live Updates Get The Best SPDR S&P 500 ETF Live Earnings Coverage Like This Every Quarter Get earnings reminders, our top analysis on SPDR S&P 500 ETF, market updates, and brand-new stock recommendations delivered directly to your inbox.

Stock market fundamentals look great. But Trump, again, is the wild card. Early in President Donald Trump’s first term at the White House, stocks set all-time highs with the Dow Jones Industrial Average topping 20,000 for the first time on record.

In 2025, this stock market trio delivered an encore performance following the first year of Trump's second, non-consecutive term. When the curtain closed on Dec. 31, the Dow, S&P 500, and Nasdaq Composite had climbed 13%, 16%, and 20%, respectively, with all three notching several record-closing highs throughout the year.

Shares of Constellation Energy Corp. rose 6.19% to $342.52 Friday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 0.65% to 6,966.28 and the Dow Jones Industrial Average rising 0.