Given the amount of time I've been managing money in the Capital Markets and the amount of "stuff" I've seen, it takes a lot for me to say "WOW!!" But today, I am saying WOW!!!!
We are in the middle of earnings season, GE, HON, STI, PYPL, SLB, and AMD (to name just a few) announced earnings today. Most beat earnings handily. However, of the 22 highlighted stories on CNBC right now...ZERO are about earnings. And then when you click over to Bloomberg, they have one story about earnings on their front page and there are over 50 stories on that front page right now. So, combining those two websites...you have over 72 stories being highlighted and only ONE is about earnings...AND WE ARE IN THE MIDDLE OF EARNINGS SEASON!!!
This is beyond stunning to me. Perhaps people are overlooking the fundamental data that drives stock prices. No, strike that, remove the "perhaps"...people (led by the media) are overlooking the fundamental data that drives stock prices.
Welcome to Crazy Land!!!