1/6/2025
By Charles Payne CEO & Principal Analyst

Over the last five years, the stock market has moved higher, primarily due to what’s known as multiple expansion. In other words, stocks have rallied higher despite stagnant earnings growth, so one could say they were driven by hype.

At some point, the hype fades, and earnings and fundamentals matter. Moreover, dividends will play a more significant role. Consider that dividends contributed 15% of returns over the past five years but only 1.7% last year.

To read the full report, contact your account representative or email Info@wstreet.com.

Charles Payne
Wall Street Strategies

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