S&P 500 Rallies to Records, But February Volatility and High Valuations Give Strategists Pause
• S&P 500 coming off best stretch in decades, but February historically rocky for stocks
• AI hype took hit in big tech earnings; speculation of near-term Fed rate cuts has cooled
• Valuations remain high, evoking dot-com bubble memories for some strategists
• Optimism driving recent rally to records sends contrarian warning signal
• Fed signaling no near-term rate cuts raises red flags for some investors