The stock market is trading at its highest valuation in 18 years, shrugging off skyrocketing unemployment claims and economic ruin (SPY)

· *The stock market is trading at its highest valuation in 18 years, according to data from FactSet.*
· *The S&P 500 traded at a forward price-earnings ratio of 20.4 last week, which is above its five-year, 10-year, 15-year, and 20-year average and is the highest since April 2002.*
· *Driving the surge in valuation is the...