After yesterday's huge upward jump, as we write this the Dow Jones Industrial Average is up over 100 points. Listening to network radio news as we travel through the Finger Lakes, it would appear that inventors are reacting to a lack of bad news from Greece, or perhaps an optimistic crop forecast from the Andromeda Galaxy. Who knows what affects stock prices?
We'll tell you who knows - Larry Kudlow.
You didn’t see it in the mainstream financial media Wednesday morning. But stocks loved Governor Scott Walker’s spanking of public-sector unions and Democrats in Wisconsin. The Dow jumped about 165 points right at the opening on Wednesday, and was up over 200 points later in the day. There really was no other news. There was some speculation about central bank stimulus in Europe and the United States. Blah, blah, blah. But there was nothing specific or concrete.
So it’s an easy point to make: Markets love the Scott Walker landslide.