The S&P 500 earnings yield closed the week at an impressive 4.79%. This yield is only surpassed by the 4.82% figure recorded for the week ending September 6, 2024. Moreover, the yield witnessed a climb from a low of 4.90% noted earlier in May 2024 as Q4 2024 S&P 500 earnings growth ended Friday at an estimated +17.1%. This represents a significant recovery from the low of +9.5% recorded on January 10, 2025. Analysts suggest that part of this Q4 earnings strength might be attributed to the recent surge in imports. Companies rushed to stockpile goods ahead of potential tariffs, particularly in anticipation of the Presidential election results in November 2024. Investors are closely watching these developments as they could impact future market performance.