最新报道:Wall Street shows signs of frothiness as major stock indices hover near all-time highs, with the S&P 500 and Nasdaq Composite both up over 20% year-to-date. Analysts warn of potential overvaluation in tech stocks, particularly AI-related companies, as the Nasdaq's forward P/E ratio reaches 28—well above its 10-year average. "We're seeing stretched valuations in momentum-driven sectors," notes JPMorgan strategist Marko Kolanovic, pointing to rising margin debt and IPO activity as classic late-cycle indicators. However, Goldman Sachs maintains its year-end S&P 500 target of 5,200, citing strong corporate earnings and anticipated Fed rate cuts. Retail investor participation has surged to 2021 levels, with options trading volume hitting record highs in June.