As of today, my Empower dashboard shows foreign stocks with a 14% edge in returns (foreign +9.72%, US -4.42%) over the past 90 days. On a rolling one-year basis, foreign stocks now have a >1% edge over US stocks even with the crazy Mag 7 performance of the past year.
I'd say there's something going on. At what point do investors decide that maybe DCAing into US stocks isn't as safe of a long-term play as we've grown accustomed to believing that it is?