In the 57 years since “The Day the Music Died,” the S&P 500 has risen about 3800%
What’s not to like about that?
Among those perishing in that February plane crash was “The Big Bopper” whose signature hit song “Chantilly Lace” was telling the world what he liked.
While it may be cute when a child gives you that kind of information, not much good is to come when an adult lets free with those unfiltered thoughts.
It may be even worse when they act upon those thoughts that no one needed to hear in the first place.
The Big Bopper’s album cover makes the words of the song even more creepy, but there must have been strains of that admittedly catchy tune playing as investors were awaiting last Friday’s Employment Situation Report.
Of course, as we all know, there is nothing creepy at all about being in love with money or letting it know what you especially like about it.
It was pretty obvious what investors wanted and liked when the data was released and seemed to put a nail into the shockingly low number of new jobs reported back in June 2016.
I don’t know what the equivalent is to the obligatory “chantilly lace” in the song, but the market definitely decided it was time to put a pretty face on the impending likelihood of an interest rate increase.