Sections SEARCH Skip to content Skip to site index Business Subscribe Log In Log In Today’s Paper Business | S&P 500 Touches 3,000 as Stock Rally Powers On Advertisement Supported by Few analysts expected the index to reach the milestone so soon, but many see reasons for the gains to continue. ByMatt Phillips July 10, 2019 The stock market hit a new high in its decade-long rally on Wednesday, as the benchmark S&P 500 stock index traded above 3,000 for the first time. Investors are cheering the potential for an interest-rate cut, which would make stocks more appealing. In prepared testimony before Congress on Wednesday, Jerome H. Powell, the Federal Reserve chair, raised concerns about a global slowdown hurting the United States, laying the groundwork for a cut later this month. In essence, investors are celebrating a weak outlook for growth as a result of the trade war, which the central bank … [Read more...] about S&P 500 Touches 3,000 as Stock Rally Powers On
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Bank of America Merrill Lynch raised its forecast for the S&P 500 — but it did so because it believes over-optimism is taking hold, and the years-long market rally will end soon.strategists surveyed by CNBC in early February. "The stock market has always seen outsized returns leading up to its eventual crash, and we think this time will be no exception," she said. Investor optimism reached a 30-year high, while certain technical indicators on the market indicate to some strategists that stocks are likely setting up for further gains. The S&P 500 traded at fresh record highs Wednesday. On a fair-value basis, Subramanian estimates the S&P should be at 2,230, more than 130 points below Tuesday's close of 2,363. She pointed out that historically, the last two years of a bull market in stocks returned a minimum of 30 … [Read more...] about BofA Merrill Lynch just raised its target for the S&P 500 — but not for a good reason
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Today’s Paper Advertisement Supported by ByPeter Eavis and Stephen Grocer Aug. 22, 2018 The stock market rally that kicked off more than nine years ago during the financial crisis is now arguably the longest on record in the United States.* [*By one measure. Read about the caveats here .] The Standard & Poor’s 500 stock-index has marched steadily higher for 3,453 days. Since bottoming out on March 9, 2009, it is up more than 320 percent. Investors have enjoyed 11 bull markets — defined as a period without a pullback of 20 percent or more — since the end of World War II. Usually driven by a strengthening economy that fuels corporate profits, bull markets often end in recession after the Federal Reserve begins to raise rates to slow rising prices and cool the economy. Here’s a look at the … [Read more...] about A Brief History of Bull Markets, From Post-War Boom to Housing Bust
(Reuters) - The S&P 500's <.SPX> bull market turned 3,453 days old on Wednesday, making it the longest such streak in history, according to some investors' definition. S&P futures pointed to a slightly lower open one day after the benchmark index set an all-time intraday high that slightly exceeded the previous one set in late January.Wall Street is widely considered to be in a bull market that started on March 9, 2009, when investors grappled with the global financial crisis that had vaporized over half of the U.S. stock market's value. Since then, the index has more than quadrupled. Now after nine years and five months, investors are debating when, not if, the current run-up in stock prices will end.Bull and bear markets are identified only retroactively, and it is too soon to say for certain whether a correction in the S&P 500 in February marked the end of the bull market and the start of a bear market. To be sure that the S&P 500 is still in a bull market, it … [Read more...] about S&P 500 bull market now arguably the oldest ever
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Today’s Paper Advertisement Supported by Common Sense ByJames B. Stewart Oct. 11, 2018 Until markets plunged on Wednesday, the economic news couldn’t have been much better for Republicans heading into the midterm elections. Two weeks ago the Dow Jones industrial average hit a record. Last week the unemployment rate fell to 3.7 percent. Economic growth estimates were just upgraded to 4.2 percent for the second quarter. President Trump hasn’t been shy about taking credit: “As large as we are, we’re the fastest-growing economy in the world, up $10 trillion,” he told the United Nations in late September, grossly exaggerating both the order and magnitude of the gains. (The United States is nowhere near the fastest-growing economy in the world, and last year it grew by $1.3 trillion, not $10 trillion.) … [Read more...] about Markets Just Dived. Democrats Shouldn’t Get Too Excited.