"Efficient Markets"

Federal Reserve Chair Jerome Powell released a video in response to the Trump Administration’s bullshit investigation of the renovation of the Federal Reserve buildings. You’d think this kind of an attack on the Fed would have left the markets reeling. Nope:

The S&P 500 closed at 5 day high.

Related to this, Tesla had a bunch of bad news in the past few days, including being outsold by Chinese EV maker BYD in Mexico and Europe. Here’s the Tesla six-month stock graph:

At some point there may be a rational market response to the overall bad news about the Fed and the specific bad news about Tesla, but today is not the day.