U.S. stock market defying gravity

As Wall Street observes Memorial Day, those bullish on stocks are sitting on big yearly gains. Maggie Lake reports.

美国股市因阵亡将士纪念日休市，以此向为国捐躯的军人表达哀思和敬意。美国人最早开始举行阵亡将士纪念日的活动是在一百多年前的南北战争期间。当时各地教会和妇女组织等民间团体开始为战争中的阵亡士兵举行悼念活动。

Call it the iron man rally.Just like the super hero who visited Wall Street,stock this year has so far defied gravity.

All of a sudden now,everybody is bullish on stocks and they are getting more and more bullish.Wall Street made history early March,redacting its first record high since 2007,then in May it crossed 15,000 for the first time ever.The S&P also joined the party,and NASDAQ earned its bargain rights,hitting a twelve-year high.For the bulls,the arguements for stocks is compelling as long as the Fed keeps pumping billions into the economy.

If the Fed is leading us,you know,by the hand,into the stock market,into risky asset.

The housing market has also gotten a boost and spending particularly for cars is holding up.This bull market may have sustained power.In a survey by financial magazine Barrens,money manager said the Dell could reach 16,000 soon.Despite the positives,this is a rally that in the immortal worlds of Roby D.No respect,totally no respect at all.Still has troubles getting respect,especially from traders sitting on the sidelines.

The reason people don't like it is because they think it is a perceived bubble.

Bear says rally fueled by Fed stimulus can not be taken seriously.Corporate profits are also a concern.It's not like companies that are out there selling a lot,inventing great new things.You know,we are not seeing a real boom of any kind right now.Meantime,the US jobs market remains sluggish.Grid-lock reigns in washington and Europe is mired in recession.Even world famous investors say what happens next is anyone's guess.We don't what the stock market ever is going to do,if you think you know,you are kidding youself.

Volatility has returned to the markets but the bull still hopes iron man super powers would prevail.