U.S.-China trade tensions, worries about slowing global growth, and impeachment talk limited the S&P 500's return to just above 1% during the third quarter. The index is up about 19% for the year.
Not surprisingly, we think stocks are about fairly valued today: The median stock in our North American coverage universe traded at a 2% discount to our fair value estimate at quarter's end.
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Susan Dziubinski does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.