Meredith Whitney on 60 Minutes: Expect 50+ muni bond defaults in 2011

The stock market is heavily reliant on government spending

US inflation is expected to settle in the upper 2% range through 2026, a level historically linked to strong corporate profits and healthy equity market returns, creating a favorable economic backdrop.

Fresh earnings reports fueled further gains, with positive earnings surprises from several big-name technology companies that benefited the larger universe of Nasdaq-listed high-growth companies.

More than a third of the world’s billionaires live in the same 20 cities.