Personally, I’m wondering, are US stocks starting to look overvalued?

On one side, bulls argue that strong corporate earnings, AI-driven growth, resilient consumer spending, and possible rate cuts could justify higher valuations and push markets further up.

On the other side, critics point to stretched valuations, heavy reliance on a few mega-cap stocks, geopolitical risks, and election year uncertainty as signs that markets may be pricing in too much optimism.

Are we seeing sustainable growth, or is the market running ahead of fundamentals?