The Nasdaq is at 11-year highs. 11 years ago. Dang. That was 2001 for goodness sakes. Big rally in growth and small caps today. The reason du jour is the drop in the unemployment rate. Of course, we know that those numbers are all smoke and mirrors, like the 2011 San Francisco 49ers. The number of people looking for work actually fell, so the unemployed number looks better.
But it is the headline number.
Feels good to see the perceptions improve. Pessimism sucks!