According to reports from Jin Shi Data, the US stock market is expected to rise against the trend in 2025, with the S&P 500 index just a hair's breadth away from its historical high. The index's price-to-earnings ratio, based on expected profits for the next 12 months, is 22 times, which is 35% higher than the long-term average. Twenty valuation indicators tracked by Bank of America strategists show that the index is overvalued on every measure. Kevin Gordon, a senior investment strategist at Charles Schwab, stated that the current market level is sustainable, but optimistic earnings expectations may be too high, nearing cyclical peaks. The strategist also mentioned that significant interest rate cuts by the Federal Reserve would be a way to narrow the gap between fundamentals and market prices.