Initial Claims and Retail Sales might provide some economic grist for the market’s mills on Thursday, but for today it was all bullishness. The thin volumes and lack of organic selling let stocks take off on the news that there will be a clear debt ceiling bill up for a vote tonight, and Janet Yellen’s pandering to the corporate classes in her testimony today.
Stocks are rising on a tide of misdirected and overly narrow liquidity, compliments of the Federal Reserve which is the tip of the banking cartel.
On a more practical note, another winter storm is expected to sweep through the NYC metro area on Thursday offering some potentially significant snowfall. Let’s see if this has any affect on the bull’s ardor for more. It may improve the occupancy of Manhattan hotels.
Have a pleasant evening.
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