David Tepper Drives The Market Higher

David Tepper appeared on CNBC's "Squawk Box" program this morning, saying he is buying stocks left and right, as the U.S. government has Wall Street's back, and stocks will go up whether the economy gets better or not. Tepper said he was going "balls to the wall" long, and futures started to creep up after he made those comments. Strong durable goods numbers added fuel to Tepper's fire, as durable goods ex transportation rose 2.0%, far higher than the 0.3% economists had been expecting. Tepper said that stocks will go up if the economy gets better on its own, without government intervention. If the economy doesn't get better on its own, the Federal Reserve will do another round of quantitative easing, and money will flow into risky assets for a few months, and stocks, commodities, and other risky assets will do well still. The markets are liking what Tepper and durable goods had to say, as the Dow is up 188 points this morning to 10,851. The Nasdaq is gaining 43 points at 2,379 and he S&P 500 is stronger by almost 2%, gaining 21 points to trade at 1,146. Try one of Benzinga's premium newsletters Here