Federal Reserve Meeting Minutes: The market believes that the overall U.S. economy remains resilient

ChainCatcher news, according to the minutes of the Federal Reserve's July meeting, the recent rise in stock prices and the narrowing of credit spreads indicate that the market believes the overall U.S. economy remains resilient; however, financial markets seem to have begun distinguishing between companies based on their earnings scale and quality.

The valuation of the S&P 500 index continues to be above the long-term average, primarily due to the market's optimistic expectations regarding the potential benefits that large technology companies may gain from further applications of artificial intelligence (AI). However, despite the rise in the small-cap stock index's valuation during the meeting interval, it still remains below historical averages. (Jin Shi)