The stock market's rise is Facebook, Amazon, Apple, Netflix, Microsoft and Google. Take away those companies and the market is down. Note that profits at those companies are also down, and that their earnings reflect buybacks.

The bond market is battening down for bad weather. The stock market reflects the fact that 80% of trading is algorithmic and everyone is piling their money willy-nilly into index funds so they don't have to think about it.

It's been a long time since I've read an NPR article that didn't annoy me.