Partner Insight: Where is there opportunity in the US stock market?

In the US - the largest contributor to global equity markets - shares have risen more than 20% since hitting a trough in mid-October 20221 - and have roughly doubled in value since their pandemic-induced low of March 20202. The extent and pace of the gains are enough to make wary investors wonder: what will drive future performance in the US stock market? Vanguard research suggests opportunity in value shares—marked by lower prices in relation to their enterprise book or accounting values, lower expected and historical growth rates and relatively high dividend yields.  We've been here...