Markets Are Drifting Higher Again

Hot air balloon flame inflation night lightREUTERS/Henry RomeroHot air balloons float during a festival as part of the spring equinox at the Sun pyramid of Teotihuacan outside Mexico City, Mexico March 21, 2007.

The US stock market is just incredibly bulletproof.

First, all through the debt ceiling standoff the market barely dropped.

Then there was no “sell the news” event after a deal was reached, as the S&P 500 hit a brand new all-time high yesterday.

And now the stock market is drifting higher again.

Granted it’s pretty modest. But still, the rush of demand for US equities is something to behold.

The rest of the world’s markets, from Japan to China to Europe aren’t really doing much at all.

Gold, which surged yesterday, is basically flat so far.

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