That’s the big business question of the year. On the pro-side — markets, like rolling stones, tend to stay in motion. Bull runs create their own momentum, and then often takes a few months more to burn out than fundamentals would suggest. Also, there’s now real data to suggest that the U.S. economy is in an upswing (all important factory orders, in particular, are looking strong). And, although the market-boosting Fed money dump is being tapered back, that’s happening slowly, in a way that’s not likely to derail the bullish sentiment. Still, there are plenty of bears that note markets are now priced the same way they were right before several bear markets of the past (i.e., stocks are looking expensive). For more on where both the markets and the economy may be going this year, listen to me and Politico’s Ben White discuss the topic of this week’s WNYC’s Money Talking.
Who cares? The markets are completely disconnected from the real economy. Article should have been titled, "Does gravy train continue for top 10% in 2014". Real incomes have been stagnant for the past decade and real unemployment rate is about 15%. New jobs tend to be part time, pay poorly and have few benefits. What is good for Wall Street is hardly good for the rest of us.