All we need is good news for the current stock market. This morning new housing starts came in with another pathetic showing but it was at least better than expected…and the market cheered. Also, the PPI inflation index came in higher than expected, but investors of course removed food and energy, because nobody eats, drives or needs heat. The # was alright…. and the market cheered again.
All that matters now is that the government stimulus, through quantitative easing, keeps on flowing. All hail Bernanke and the Fed, controller of loose money.