Stock Market Exploding -- Sequester, What Sequester? Market Loves The FOMC Minutes

The Dow is having a huge day. The S & P is having a big day.

It looks like a slightly delayed reaction but maybe folks are finally noting the Japanese stimulus.

But "the Fed minutes."

First, released early, 9:00 a.m. vs 2:00 p.m. Amazing what gets folks excited.  For traders, the timing is important. For investors....well, not so much.

This, from "the Fed minutes" caught my eye:

The next group appears to include the most members: “Many participants” argued that the improved outlook for the job market could justify slowing the pace of bond purchases “at some point over the next several meetings.” (This seems, from recent speeches, to be a relatively broad group of the committee, including centrists such as Atlanta Fed president Dennis Lockhart and doves such as John Williams of the San Francisco Fed and Fed vice chairman Janet Yellen.)

Folks have been talking about "improved outlook for the job market) for two years now. I haven't seen it. There are three issues: a) current economy; and, b) long-term tectonic changes. Even if the economy improves, the workforce is forever changed. Oh, the third difference? ObamaCare. That will have a huge effect on job creation.