What Risks Behind US Stock Euphoria? Barron's Market Analysis*
Barron's July 21 issue reveals US stocks in rare "euphoria" state with Citigroup Panic/Euphoria Model at +0.49 and 100% equity allocation. M2 money supply hits record $21.86 trillion with 19 consecutive months of growth providing liquidity support. Tech sector leads gains with XLK up 1.97% weekly and 12.20% YTD. Traditional industries undergo value transformation: Casella achieves rapid growth through small waste company acquisitions, while Deere revolutionizes agriculture with AI precision farming. Legal rulings on social media algorithm liability may reshape tech giants' operations, potentially shifting content recommendations from "third-party speech" to "first-party platform speech," significantly increasing legal risks and compliance costs.