As far as stocks are concerned, the stock indexes rise or fall for the most part, according to the earnings of the firms that make up the indexes.
There is not much difference between stocks and lottery tickets.
Now, we all buy stocks because it is the only place to store our wealth, not many other options. But there are some.
Microsoft and Apple are not at a market cap of a massive $1.6 Trillion each because of rumors. They are priced very high because they delivered excellent Q1 results and are expected to deliver great Q2 earnings as well.