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February 27th, 2009 at 4:54 pm
NEW YORK (Dow Jones)–The price/earnings ratio of the Standard & Poor’s 500 Index at the close of trading Friday was 8.64.
On Thursday, the ratio ended at 8.84.
The price/earnings ratio for the S&P 500 measures the index’s closing level divided by the index’s total earnings, as reported under generally accepted accounting principles, or GAAP, for the most recent year.
In 2007, the most recently reported year, S&P 500 companies reported earnings of $85.12 a share.