[Strategist: S&P 500 Could Rise to 10,000 Points, U.S. Stock Market Rally Not Driven by Speculative Sentiment] Odaily Planet Daily News – Regarding whether U.S. stock valuations have entered bubble territory, Ed Yardeni, President and Chief Investment Strategist of Yardeni Research, has offered a completely different perspective. He believes the current market rally is not driven by speculative sentiment but is instead built on the foundation of strong corporate earnings growth. In an interview on Wednesday, Ed Yardeni stated: 'The biggest difference lies in earnings.' He explained that as long as the U.S. economy does not fall into a recession in the coming years, the current forward price-to-earnings ratio of approximately 20 to 22 times for the S&P 500 Index can be reasonably justified. Although his overall outlook leans optimistic, Yardeni also acknowledged that the rapid rise of some semiconductor stocks has given the market certain characteristics of a 'melt-up.' However, he remains confident in the long-term trend, suggesting that under the so-called 'Roaring Twenties' scenario, the S&P 500 Index could rise to 10,000 points by the end of this decade, representing approximately 33% upside from current levels. (Jin10)