The Week Ahead: Buffett, Bullishness and a Little Bernanke
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What better way to celebrate TGIF than to have Wall Street cap the week by hitting fresh new highs? Forget "sell in May," at least for now; the S&P 500 on Friday soared past 1,600 for the first time ever and the Dow touched 15,000 in early trade, ultimately closing just 27 points below that milestone. This came after Friday's jobs numbers blew past expectations (while hardly setting the BLS on fire) and following a week in which central banks, housing data, earnings and a historic Apple (AAPL) debt sale were in focus.
So why do we continue to rally in the face of "eh" economic data, higher taxes, the sequester and a dragging euro zone? What is fueling this most "unloved" rally? Are U.S. equities just the best choice out of a not-so-great bunch, which includes sliding metals and low-yielding bonds? Is the "spring swoon" yet to come?
Well, as Breakout's own Jeff Macke says, you might just want to "shut up and stay long" because "sometimes a bullish market is just a bullish market."
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