Real Story: Sea of Joy

Strong earnings, data and more deals push stocks higher again. Plus, Cody Willard on News Corp.'s gambit and 'Should I Do It?' emails with David Peltier.
Author:
Publish date:

"The bulls were right -- but for the wrong reasons. The bears were just plain wrong," Aaron Task says on Wednesday's

Real Story podcast.

Wednesday's rally, which secured the

Dow Jones Industrial Average's

16th record high of the year, came amid another round of "good news," Task notes, specifically stronger-than-expected factor orders, strong earnings from the likes of

Time Warner

(TWX)

,

Yum! Brands

(YUM) - Get Report

and

Mastercard

(MA) - Get Report

, as well as

Cablevision's

(CVC)

$10-billion-plus private equity deal.

None of those developments point to a

Federal Reserve

rate cut, something many bulls have been counting on,

TheStreet.com's

editor-at-large and podcast host says. "But do we really need a rate cut to 'help the market' when the Dow, Russell 2000, S&P MidCap, Dow Transports and Utilities have all rallied to all-time highs recently as the odds of a near-term rate cut have

fallen

?"

Meanwhile, Wednesday's broad advance left the

S&P 500

at its highest level since September 2000, while the

Nasdaq

hit its highest close since February 2001

Task's first guest, Cody Willard of CL Willard Capital, discusses Tuesday's blockbuster bid by

News Corp.

(NWS) - Get Report

for

Dow Jones

(DJ)

. The deal is "genius," says Willard, a News Corp. shareholder. The

RealMoney.com

contributor is also a

Google

(GOOG) - Get Report

shareholder and says he'll sell the search giant's stock should it enter the Dow Jones bidding game, as some have speculated.

Task's second guest, David Peltier, joins for their weekly "Should I Do It?" segment, tackling listeners' emails on stocks such as

Rochester Medical

(ROCM)

,

Atari

(ATAR)

and

Komag

(KOMG)

.

Click

here to listen to the entire podcast.