Is the Stock Market in a Bubble? 3 Reasons to Say No.

The stock market has felt increasingly like a bubble recently. Yet several factors indicate it is too soon to make that call.

It’s no surprise that some people are alarmed. The S&P 500 is up 9.1% since Oct. 4, when it hit bottom in its latest pullback, a surge that has been likened to the rise in the market in the months before the dot-com bubble burst in 2000. Valuations have risen, even as bond yields have also popped. That is counterintuitive since such surges in yields—many expect this one to continue—tend to drag on stocks…