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Yahoo
26 minutes ago
- Yahoo
Bank of America shares an eye-popping chart showing a potential stock-market bubble: 'It better be different this time'
AI optimism is driving the S&P 500 price-to-book ratio to records, surpassing dot-com levels. High valuations reflect expectations for AI-driven earnings. While the ratio's level is head-turning, it doesn't necessitate that stocks are in a bubble. Stock-market bulls convinced of the power of AI to transform the economy often shrug off comparisons to the dot-com bubble a quarter century ago. The real profits are already showing up, unlike in the early days of the internet boom — so it is different this time, the thinking goes. But Bank of America strategist Michael Hartnett has a message for these investors: "It better be different this time." Hartnett, who has often expressed skepticism of the market's bull run over the last few years, shared a head-turning chart that highlights just how optimistic investors have become about the impact AI will have. It shows the S&P 500's price-to-book ratio, which measures the total market cap of the index's constituents compared to their total assets minus liabilities. The valuation measure is at a record high of 5.3, topping the 5.1 level seen in March 2000, at the peak of the dot-com bubble. Other classic valuation measures show market froth relative to history. For instance, Hartnett also shared a chart showing the S&P 500's 12-month forward price-to-earnings ratio. Except for August 2020, it's at the highest level since the dot-com era. And the Shiller cyclically-adjusted price-to-earnings ratio, which measures current prices against a 10-year rolling average of earnings, is at similar levels to 1929, 2000, and 2021. High valuations reflect high expectations for future earnings. Sometimes those expectations turn out to be too elevated, and prices correct, but they don't necessitate a bubble scenario. So far, many AI firms have continually beat earnings expectations, suggesting the optimism could be justified. Valuations are also better predictors of average long-term returns than near-term performance, and views on Wall Street on where the market goes in the months ahead differ. Though there are calls for caution, many strategists continue to raise their year-end S&P 500 price targets. Earlier this week, Rick Rieder, the chief investment officer of global fixed income at BlackRock, said the market is in the "best investing environment ever" thanks to factors like strong demand for stocks, looming rate cuts, and recent boosts in productivity and earnings growth. If the market does start to unwind, however, Hartnett said he sees bonds and non-US stocks benefiting. Examples of funds that offer exposure to these trades include the iShares Core U.S. Aggregate Bond ETF (AGG) and the Vanguard FTSE All-World ex-US ETF (VEU). Read the original article on Business Insider Sign in to access your portfolio
CBS News
29 minutes ago
- CBS News
Firefighters warn about tabletop fire pits after explosion inside Massachusetts home
By AARON PARSEGHIAN Firefighters in Avon, Massachusetts are warning residents about the dangers of tabletop fire pits after one exploded inside a home Thursday night, leaving a person with third-degree burns across their body. Assistant Fire Chief Brad Cronin said the victim was using isopropyl alcohol to ignite the small device when it erupted in flames, burning at temperatures around 1,600 degrees. The fire pit used liquid fuel and a cotton wick; a combination Cronin described as inherently dangerous. "These have been increasingly more popular from online retailers or mercantile stores," Cronin said. "Having an open flame device and a pouring of liquid into something that's already hot or maybe ignited just creates a very high fire risk. We'd caution anybody to not use this type of product." Similar products have been linked to serious injuries in the past, including the deaths of a 93-year-old New Hampshire couple last summer after a fire pit explosion. The U.S. Consumer Product Safety Commission issued a warning late last year advising people not to buy or use liquid-fueled tabletop fire pits. In October 2024, Colsen recalled a fire pit device due to risk of serious burn injury. "Fire pits that require consumers to pour isopropyl (rubbing) alcohol or other liquid fuel into an open container or bowl and then ignite the pooled liquid in the same location it was poured violate the requirements in voluntary safety standard ASTM F3363-19. ASTM F3363-19 is designed to prevent pool fires in which flames burn along the surface of pooled or spilled flammable liquids, and flame jetting in which flames erupt from containers of liquid fuel," reads the 2024 warning from CPSC. Cronin said their thoughts are with the injured resident and urged anyone considering a fire pit to purchase only models labeled as meeting safety standards and never use them indoors.
Associated Press
29 minutes ago
- Associated Press
Personalized Jewelry Brand SETT to Launch SETT NOIR, A Sterling Silver Collection with Three Distinct Luxury Finishes
Phoenix, AZ, Aug. 15, 2025 (GLOBE NEWSWIRE) -- SETT, a men's jewelry brand known merging aesthetic simplicity with personalization, has announced the upcoming launch of its newest collection: SETT NOIR – sterling silver men's bracelet fusing three distinct finishes: black rhodium, white rhodium, and gold plating. Defined by its rich contrast and meticulous design, the collection marks a bold shift toward more sophisticated, contemporary luxury design within the brand's portfolio. SETT NOIR Inspired by the use of black rhodium-plated sterling silver, a hallmark element running through the entire series, the name SETT NOIR takes its cue from the collection's darker, refined aesthetic. Developed entirely in-house, the designs were brought to life in partnership with Italian artisans, with each bracelet crafted and finished in Italy. 'Our goal with SETT NOIR was to take a step beyond our classical styles and explore more elevated, modern expression of men's jewelry,' said Uri Raveh, SETT Brand Manager. 'By combining three contrasting finishes in a single sterling silver piece, we've created a collection that feels both distinctive and versatile, balancing bold design with understated elegance.' A Step Beyond the Classics While SETT's existing collections have emphasized timeless, personalized pieces, SETT NOIR introduces a different design language. The collection moves away from purely classical silhouette, embracing a more sophisticated aesthetic that appeals to men seeking jewelry with subtle complexity. The combination of dark, bright, and warm tones gives each piece a layered architectural quality – deliberate balance of depth, light, and texture. This contrast of the black rhodium, white rhodium, and gold plating is built into the design itself rather than added as ornament, allowing the finishes to enhance the structure and presence of the bracelets. The result is a collection that commands attention without overpowering. SETT NOIR complements a tailored suit as naturally as they add edge to a casual ensemble, serving as versatile accents that can adapt to multiple personal styles. By blending bold contrast with a restrained architectural form, SETT NOIR bridges the heritage of classic craftsmanship with contemporary sensibility. It is a collection designed to resonate with seasoned jewelry collectors and those seeking a meaningful new addition to their wardrobe. A Permanent Collection With Future Potential Unlike seasonal drops that appear briefly and fade with trends, SETT NOIR is envisioned as a long-term part of the brand's portfolio, signaling SETT's confidence in the collection's staying power and its relevance to the modern men's jewelry market. From the outset SETT intends to expand SETT NOIR beyond bracelets. The brand already exploring how the distinctive three-finish combination could translate into other forms. According to the brand, if early reception is strong, it plans to expand the NOIR design language into necklaces, potentially followed by additional categories that preserve the collection's unique architectural balance. 'We see SETT NOIR as more than a single collection. It's a beginning of a design language we can build on,' added Raveh. 'Establishing it as a permanent line gives us and our customers the chance to see it evolve, adapt, and remain relevant throughout the years.' This approach not only allows product variety over time but also ensures each piece feels connected to the original vision. For SETT, the launch of SETT NOIR marks more than just the arrival of a new product. It marks step toward a more contemporary, luxury territory. While the brand continues to uphold its commitment to personalization and timeless appeal, this collection aims to carve out a space for a more modern, architectural expression of luxury. Positioned for a Strong September Launch Launching in September, the collection aligns perfectly with the fall fashion cycle, just as shoppers begin eyeing upscale accessories for gift-giving and self-styling. SETT NOIR will be available exclusively through the brand's official online store and select retailers, with early access previews offered to email subscribers and social media followers in the weeks leading up to the launch. To explore SETT's collection or to stay updated on SETT's latest collection, please visit About SETT SETT is a contemporary men's jewelry brand that merges aesthetic simplicity with craftsmanship, offering pieces designed to balance timeless appeal with modern sophistication. Known for high-quality sterling silver designs and the option for personalization, the brand creates jewelry that carries meaning while standing up to everyday wear. Each collection is developed in-house and produced in collaboration with skilled artisans, including Italian makers for select lines, ensuring every detail meets exacting standards. From engraved rings to statement bracelets, SETT's designs reflect a commitment to individuality, authenticity, and the belief that men's jewelry should feel both personal and enduring. Media Contact Company Name: SETT Contact Person: Uri Raveh Contact Number: +39 (349) 171-6566 Email: [email protected] Country: United States Website: Socials: @settandco Media Contact Company Name: SETT Contact Person: Uri Raveh Contact Number: +39 (349) 171-6566 Email: [email protected] Country: United States Website: Socials: @settandco
