Federal Reserve to scale back stimulus by $10 billion

[DallasNE]

3. Not Really

While the market generally over reacts to events -- in both directions -- the common denominator for stock prices is earnings, with an element of speculation. Also, nobody ever asks about who benefits from this $85 billion a month. Bond traders, even more that stock traders, are concentrated in the top 1% and countries like China. That money will have to go somewhere and that somewhere is likely the stock market so this move should be bullish for the stock market. Think not, what has the reaction been on the stock market today.