Bloomberg View: The Stock Market's Rational Exuberance

The Dow’s record-setting rally is cause for cheer and caution
Traders work on the floor of the New York Stock Exchange Photograph by Spencer Platt/Getty Images

The stock market, in normal times a reliable proxy for an economy’s health, continues to set records. And why not? Corporate profits are higher than ever. Housing is springing back. Auto sales are on pace for the best year since 2007.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.