From the greatest money manager alive:
“Earnings don’t move the overall market; it’s the Federal Reserve Board… focus on the central banks and focus on the movement of liquidity… most people in the market are looking for earnings and conventional measures. It’s liquidity that moves markets.”
Interestingly, his further point in this regard was not the popular, “don’t fight the Fed.” In fact, it was just the opposite:
also from Druckenmiller: ‘What Part of “Get Out of The Stock Market” Don’t You Understand?’
