#美联储政策与会议 US stocks are almost hitting 7,000 points, and this rally really can't be sustained much longer. The S&P 500 has risen 18% this year, the Nasdaq up 22%, and global stock markets have also seen their largest gains in six years, indicating that everyone is betting on the Federal Reserve continuing to loosen monetary policy and the AI boom.

But what's interesting now is that the tech stocks that previously led the rally are starting to weaken, and funds are shifting toward undervalued sectors. This suggests that smart money is quietly reallocating, so caution is still advised.

The key will be the Federal Reserve meeting minutes—markets are speculating on when they will cut interest rates again. Plus, rumors about Trump wanting to replace the Fed Chair are also catalysts for next week. By 2026, valuations are already so high that a "dovish" Fed is needed to keep the rally going, but on the flip side, the risks are not insignificant.

Right now, the bullish momentum is strong, but the ceiling is within reach. Let's see how next week's developments unfold.