NEW YORK - Wall Street stocks have leap-frogged over a host of concerns, including a stall in corporate earnings and political controversy in Washington, on their way to record highs this month.
But other factors have helped U.S. equity investors look past risks such as the possibility of the first year-over-year decline in quarterly earnings since 2016 and disruptions from the impeachment inquiry on President Donald Trump’s dealings with Ukraine and the 2020 presidential election. The rate of change in the Conference Board’s Leading Economic Index, which is made up of 10 components, including manufacturers’ new orders and building permits, likewise points to the beginnings of a turnaround, Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina, wrote in a recent blog post.“There’s a recognition that things aren’t as bad as some feared,” said Oliver Pursche, chief market strategist at Bruderman Asset Management in New York.
I replied to this earlier but interestingly, the tweet seems to have been deleted. Here's a more discrete summary: many countries are close to recession, and although TINA is a factor, the main driver is rigged markets run buy squeezes and buy-backs, courtesy of CB printed money
Trading on hopes, now that's something to think about
it's desparation !