美股近日再创历史新高，但花旗集团新任财富部门投资长摩尔(Kate Moore)警告，市场情绪过度乐观，忽视了一连串潜在风险，包括特朗普关税大限、中东局势与企业获利下修，令她对当前涨势感到不安。 她指出，标普500企业今年的盈余预估，从年初预期的成长近13%降至目前仅7.1%。此外，指数涨势日益集中于少数科技巨擘，如英伟达、微软与Meta，这使得等权重版本的标普500指数仍距去年高点有3%之差，反映整体市场的参与度不足。 尽管整体环境面临挑战，摩尔对人工智能(AI)与大型科技企业的基本面仍具信心，认为这些主题具备跨周期韧性。她并透露，上任以来已调整花旗财富的投资组合，减码小型股、增配大型股与黄金，以应对未来波动。
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