Yesterday’s pause was not the end of this mini bull rally. Stocks soared higher again today, on no particular news. Interestingly, the financials were kind of quiet, generally moving up with the market, but not trading like stock options anymore.
The big winner was tech, as the NASDAQ climbed 3.5% to 1,453.12. The Dow climbed another 145.44 to end at 7,362.11, and the S&P added 20.43 to 774.32.
Interesting the rally is occuring just as anti-business populism reaches its fever pitch (hello, Sen. Grassley). Kind of calls into question the whole idea that Obama’s rhetoric is what was dragging down the market the past 6 weeks.