Traders are likely leading investors. Investors remain less convinced, while traders are taking advantage of (or intentionally creating) momentum.
While the political deal-making is used as an excuse for the rally, I see different reasons behind it.
There are now two weeks until what we think is the deadline for getting a debt bill passed into law.
Pro-democracy parties have won handily in Sunday's Thai elections and must now form a coalition. The question is, can it govern?
Would the Fed be out in this kind of force early in the week if there were not some kind of message to be sent?
Thai stocks are Asia's laggards for 2023. Can the return of a populist political dynasty turn Thailand's fortunes around?
The bulls are winning the argument right now -- and the biggest beneficiary is big-cap technology.
In addition to CPI, there is much talk about the debt ceiling issue.
Both political sides seem disinterested in doing something temporary or shorter-term about the federal debt ceiling to avoid a default.
The Nasdaq Composite has spent two days knocking on a door. Open that door and the index will go.