How far ahead were the markets looking when they made Rivian a larger market cap than GM?
When Tesla was over $1,000 per share?
When coal was written off for dead, along with NG and oil producers?
The market's view of the future is never very good, but bad economic news will be seized on as positive for the equity markets because it means the Fed rate raising is at an end, and for so many of the overvalued stocks in this market, that's the only hope they have.
In the meantime, the market still sees the ongoing collapse of energy producers earnings into the future, and I stubbornly refuse to agree.