The Daily Why the Stock Market Just Keeps Going Up
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Oct 20, 2025 Joe Rennison, a financial markets reporter for The New York Times, dives into the paradox of a surging stock market amid economic turmoil. He explains how tariffs and a cooling labor market haven’t deterred investor optimism, linking market strength to AI enthusiasm and clarity in trade policies. Joe also touches on potential bubbles and emerging warnings like rising consumer loan defaults. With insights on how institutional pressures affect stability, he gives a nuanced view of what could lie ahead for investors.
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Markets Look Ahead, Not At Today
- Markets are forward-looking and price expected future conditions, not just current headlines.
- Investors interpret many signals and currently see a reasonably safe path despite volatility.
Uncertainty, Not Tariffs, Roiled Markets
- Early tariff announcements shocked markets because they created huge uncertainty investors couldn't price.
- As tariff levels and effects became clearer, that uncertainty eased and markets stabilized.
AI Is Driving Market Gains
- Artificial intelligence enthusiasm is a major market driver lifting big U.S. tech stocks.
- A handful of AI-linked giants now exert outsized influence on major indexes.