On June 2, the U.S. stock market may continue to set new records, but Wall Street analysts tracking these markets are not in a hurry to keep pace with the rising trend. Researchers are downgrading ratings for companies within the S&P 500 index. According to Jefferies, the proportion of components rated 'buy' in the broader Russell 3000 index is nearly the same as it was four years ago, significantly lower than the peak levels during the dot-com bubble. Regardless of the exact reasons behind this new skepticism, it is seen as a positive development. From a contrarian perspective, this suggests that market sentiment has not yet reached the kind of extreme exuberance typically indicative of a market top. Andrew Greenbein, Senior Vice President of Equity Research Product Management at Jefferies, stated, 'I usually consider market sentiment from the perspective of whether there are more new buyers or sellers. Currently, the sell side has not shown any signs of buying.'