Microsoft shares hit 15-year high
Amazon shares jump 11% on sales surge
Alphabet soars on news of $5bn buyback
Earlier in the day via CNBC:
Bezos, Page and Brin just made $8 billion
McDonald's hits record high after earnings beat
Existing home sales rise more than expected
Jobless claims...4-week average lowest since 1973
Things will not end well. In the EPJ Daily Alert I am making clear that the big surprise is going to be accelerating price inflation, but the idea that the Fed is somehow "out of bullets" makes no sense from an Austrian school business cycle theory perspective.
To be sure, there are some companies that are underperforming, but it is not, by far, a general trend.
Current unemployment data continues to reflect the kind of decline in unemployment that you would expect to see in the boom phase of the Fed created business cycle.