Stocks Move On Quickly From Big External Events

US midterm elections are in two weeks and dominate American headlines. That focus also colors market analyses. But what economic reports mean for campaigns isn’t our interest. Nor is it stocks’. Markets care about how data square with expectations over the next 3 – 30 months. And the latest numbers confirm a still-growing US economy entering Q4—even as concerns (e.g., inflation) weigh on some investors’ outlooks. Reality quietly beating expectations is a timeless bull market backdrop. Read Full Article »