Fundamental data is widely reported. However, market prices react to both fundamental data, and increasingly, to central bank liquidity injections.
Heavy-handed central bank moves to inject and to withdraw liquidity often over-ride economic fundamentals in the short to medium term.
Markets react to economic fundamentals, to corporate fundamentals, and to central bank gambits to inject and to withdraw liquidity.
Remember, although market participants focus on explicit Federal Reserve policy decisions, day-to-day open market operations, in which the Federal Reserve buys and sells bonds on the open market, are just as important.
These open market operations