Stocks Soar To Record Highs As Dollar Dumps After Dismal Data

Before we start, let’s get one thing straight… the US economy is going south fast as the labor market nears its weakest of the year, retail is tumbling, and even ‘soft’ survey hope is rolling over… those are the ‘sciency facts’…

But, as always, bad news is the best news as it merely forces the hands of our benevolent central planners to do more sooner… and so stocks soared…

“It’s a weaker report than expected,” Jeffrey Rosenberg, BlackRock Inc. senior portfolio manager, said in an interview on Bloomberg Ratio and Television. “The market reaction has been looking through this to the policy response. This week we have a lot of acceleration in terms of movement on that and this is the kind of news the market is interpreting as pushing them over the finish line.”

The early week relative strength of Nasdaq was erased as Small Caps ripped back to end the week.


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