What’s driving the stock market - the Fed. Most if not all of the growth in the market over the past few years been due to the Fed’s massive QE easy money stimulus. The money had to go somewhere. You can print money at that kind of rate and not expect it to bite you in the ass as some point.
Yes, and it’s not just that money had to go somewhere. It’s the devaluation of the dollar. The stock price goes up because of the devaluation.
Just like peanut butter used to cost $1.00, and now costs $2.00. So it takes more dollars to buy the same amount of stock.