A spot-on observation from a Market Watch commenter:

[OilemFirchen]

Why was Wall Street "afraid" of Senator Sanders? The markets are flashing green right now, despite every single economic indicator showing a looming depression. Why? Because the Senate is dangling mo' free money to workers and businesses, following $3+ trillion in stimulus funds and the Fed and Congress pumping $7 trillion into the equities markets. And, of course, slashing interest rates to nada.

P/E ratios are at or near record highs. Doesn't matter, though, because there's limitless money available to donate, deficits be damned, inflation be damned, dollar be damned.

No more evidence is required to prove that Wall Street is impermeable. So what difference does it make to them who is elected President?

[Cary]

1. The stock market isn't the economy

It is a leading indicator. That's it.

[kentuck]

2. What is it indicating at present?

The day it was announced that 30 million Americans had lost their jobs, the stock market went up dramatically? How could that happen? Who was buying the stocks?

[Cary]

12. The fact that it is an indicator doesn't mean it's a perfect one

[OilemFirchen]

3. No, it's not even an indicator.

If there are limitless cash infusions available, then it's a market wholly separate from the economy.

[ProfessorGAC]

4. It's A Hedge Indicator

Which is not very reliable.
Markets have misdirected themselves due to sets of economic conditions about 40% of the time.
So, it's better than a coin flip, but not much.

[OilemFirchen]

6. Except that there's no other place to park money.

Funny, though, that technical indicators are often self-fulfilling. The comment I referenced was in response to a story observing that the Dow has pierced the Fibonacci 61.8% ratio. Everyone knows it's a unicorn benchmark, but it drives trading nonetheless.

So, as a hedge indicator, of course buyers are lined up. They would be without it, but it reinforces their obvious bullish perspective.

[ProfessorGAC]

13. Agreed

Who would do money markets now, unless one is 10 minutes from retirement?
Or CDs?
There's no yield.

[Still Sensible]

5. Its all about two things: Regulation & Accountability

Wall Streeters want less of both and tRump/GOP delivers that. Sure, much of this is all about perception, but there has been enough in these two areas that they will do all they cam to prop up this "indicator."

Right now this artificial market spurt is buying McConnell time to sit on additional stimulus... but mark my words, if the market tanks again and starts approaching 20k, McTurtle will pull his head out of tRumps ass and pass something in a big hurry.

I also think they are desperately looking for a way for tRump to get the most public credit for the next stimulus--and passing the House bill doesn't do that.

[OilemFirchen]

8. I don't know if that's true or not anymore.

Fed actions are out of the Executive's reach. So if they want to prop up equity markets or make bond markets more attractive, they'll do so regardless of regulations. The reverse is true, of course, as is evident by the inexplicable interest rate indifference under recent Democratic presidents.

[Hoyt]

7. They should not make any more stimulus or PPP, take back enhanced unemployment,

reverse all promises to pay healthcare costs, take back $1200, not help states and local government, remove incentives to allow delay of mortgage payments, reverse all attempts at stabilizing markets, stop all global trade, cut social security payments because FICA collections have been cut dramatically, etc.

That should make Sanders and his supporters happy by putting everyone out of work and erasing trillions of dollars of paper wealth that the so-called “progressives” were going to tax for healthcare, childcare, college debt reduction, education, climate change, and much more.

Do I need a sarcasm thingie?

[OilemFirchen]

9. This isn't in support of Sanders, for clarification.

Just an observation that "Wall Street" is its own engine, and despite their mewlings really doesn't give a shit who sits in the Oval Office.

BTW, this latest Senate proposal is highly regressive and should be cut off at the knees.

[gibraltar72]

10. Stock market is working off the bigger fool theory

No one is buying to hold. They are buying believing a bigger fool will buy in a couple weeks. Eventually they run out of fools. They are awash in money with no where to put it.

[Xolodno]

11. Well, remember where it was before the global plague hit.

A lot the gains since 2008 evaporated, so much so, I think a lot of stock was undervalued after it all crashed. A lot of companies with a lot assets were over sold.

I put in $1500 (my spending budget for a trip to Russia next year....which I don't think is going to happen now, so figured to invest it over two years)....its over 2k now. In normal times, I would have sold at a 5% gain. But for example, my purchase in Sea World is almost at 100%...and its still well below it was trading before the crash.

I also bought stock in a Strip Club chain, they are definitely suffering, for now. However, strippers are independent contractors which pay a fee to the club and with the job losses...well, not the most moral decision I've made. And others obviously thought about this to since its up 70%. It is getting close to my target, so I'll probably end up selling soon.

In short, there is a lot of anticipation and bargains in the market. But to be honest, today's buyers are buying a bit high...its going to take several years to regain the losses. And to caveat, I don't listen to "analysts" on TV, blogs, etc. They said to stay the hell away from cruise lines, theme parks, etc. And that's what I bought into...and if you noticed, they are mute when it comes to retail stores...which I avoided like the plague (yeah I know, bad pun)