Will earnings kill the party?

For the past few weeks, investors have "partied like its 1999." It felt like the heady days of the tech bubble and not the iconic song by Prince.

They have taken a "What me worry?" attitude that would make Alfred E. Neuman, the fictional mascot of Mad magazine, proud. Investors sent the major indexes soaring after data showed some small hints of improvement in the economy, even as 663,000 jobs were lost in March.