The Fed has not given indication that it’s ready to cut, notes Wille Delwiche. He breaks down recent trends in yields. He looks at Fed funds rate versus the 2-year yield and talks about how rate cuts could impact markets. He goes over how stocks are expensive on a forward basis based on robust earnings expectations. He then outlines the 1-year forward P/E ratio and the S&P 500 chart, in addition to the value line geometric index. Tune in to find out more about the stock market today.