Stocks Are On A Tear — Dow Up 170

Google Finance

The stock market has been rallying, and they're currently near the highs of the day.

There's not much news to report.

Earlier this morning, Q1 GDP growth slashed after personal consumption growth was revised sharply lower.

This could be the impact of fiscal austerity via payroll tax hikes and the sequester.

However, this all reflects a period that ended in March, which was three months ago.

Headlines are crossing from an interview Bloomberg's Peter Cook conducted with Richmond Fed President Jeffrey Lacker, who said that the Fed is not "anywhere near" cutting the size of its balance she.

It's worth noting that Lacker is not a voting member of the Federal Open Market Committee this year, which means he has very little say in what will or won't happen with the direction of monetary policy.

View the original article here