The Buffett Indicator today
The size of the US stock market next to the size of the US economy.
Close of Friday 6 November 2026 · updated every trading day
Where is it now?
How big is the stock market next to the economy?
Far larger than usual
High · higher than in 9 of 10 months since 2006
What is it?
The Buffett Indicator divides the value of all US company shares by the yearly output of the US economy (GDP). A high value means that the stock market is large next to the economy. Warren Buffett once called it a good single measure of where prices stand, so it carries his name.
How we measure it
We add up the market value of every US-listed company we track. We divide it by the US yearly economic output (GDP, latest quarter, annual rate). Before 2006 the line uses the Federal Reserve's measure of the value of all US company shares.
Why it is high now
AI-writtenWritten for the close of Wednesday 4 November 2026AI writes this text each trading day from our own figures for this page. We check every number against those figures before we show the text. It gives facts only. It is not advice.
The Buffett Indicator is 242%, a High level. It compares total stock market value with the size of the economy, called GDP. Market value is $80.0 trillion against GDP of $33.0 trillion. Value grew 13.2% over 1 year, faster than GDP at 5.9%.
What changed?
AI-writtenWritten for the close of Wednesday 4 November 2026AI writes this text each trading day from our own figures for this page. We check every number against those figures before we show the text. It gives facts only. It is not advice.
It rose from 240% a month ago and from 227% a year ago.
HistoryEach point is one month. The dot is today. Labels mark well-known moments in the market.
The Buffett Indicator since 1947
What does it mean for a long-term investor?
AI-writtenWritten for the close of Wednesday 4 November 2026AI writes this text each trading day from our own figures for this page. We check every number against those figures before we show the text. It gives facts only. It is not advice.
This ratio links stock prices to the whole economy. It leaves out foreign sales of US companies and interest rates. Its median since 2006 is 124%. One indicator alone does not time the market.
What does it not tell you?
The Buffett Indicator does not tell you when prices rise or fall. GDP counts only what the US economy makes at home, but large US companies also sell in other countries. The measure has risen over many decades, so its old levels may not fit today.