Group 1 - The stock market has experienced significant gains this year, with the S&P 500, Nasdaq, and FTSE 100 indices showing unexpected upward trends [1] - The FTSE 100 index is on track to achieve its best annual performance since the global financial crisis, while the DAX index has also reached historical highs [1] - Many U.S. companies are expected to report third-quarter earnings this week, with current performance appearing to exceed expectations, potentially pushing the S&P 500 towards the 7000-point mark and the Nasdaq 100 towards 25000 points [1] Group 2 - The S&P 500's expected price-to-earnings ratio exceeds 25, indicating a rare level of market enthusiasm in modern history, while the Nasdaq's ratio stands at 32, suggesting the market may not be prepared for any disappointing signals [1] - The last time the Nasdaq reached such high valuation levels was during the internet bubble, highlighting the market's difficulty in accurately identifying potential winners in new technology [1] - As the market becomes captivated by the potential of artificial intelligence, unrealistic valuations are emerging, with traders aware that the market is approaching bubble territory [2]
美股估值过高 留出的容错空间微乎其微
Xin Lang Cai Jing·2025-10-21 07:05