Cartoon of the Day: Bull Lightyear

The Nasdaq is at all-time highs for a number of reasons: Tech earnings; U.S. growth accelerating over the last seven quarters; and Global #GrowthSlowing. It’s not one thing. It’s all of the above. So this is a story of U.S. growth being better on both an absolute and relative basis. This is the U.S. being better on both an absolute and relative basis than economies around the world. Tech’s all-time highs simply reflect that.