The Financial Post reports in its Wednesday edition that markets get tougher for investors as the calendar flips to February -- historically the rockiest time of the year for U.S. stocks. A Bloomberg dispatch to the Post reports that there is ample reason for concern: artificial-intelligence hype came in for a reality check with the latest batch of big-tech earnings; fevered speculation that the United States Federal Reserve would start easing next month has gone cold; and valuations remain elevated relative to history, evoking memories of the dot-com bubble for some strategists. Then there is February's rough history. It is the third-worst month for the S&P 500 in the past 30 years, behind September and August. Market optimists are growing worried that the enthusiasm that drove the surge to all-time highs is sending a contrarian signal. NEIRG Wealth's Nick Giacoumakis says some traders are "drunk on their own wine," betting on Fed easing as soon as March. This month is off to a banner start. Solid earnings from Meta and Amazon drove the strength at the end of last week, after Microsoft, Alphabet's Google and Advanced Micro Devices released results that fell short of investor expectations on AI.