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Article: Dura-BULL-ity: The bull market is now eight months old - and it seems as if it may stick around a while longer.
- Article from:
- On Wall Street
- Article date:
- July 1, 2003
- Author:
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To say I'm surprised by the eight-month-old bull market would not be correct. I saw it coming, and said so from early 2002 onward. However, I am surprised by its early strength. The new bull market has had to endure a lot during its rise from the ashes of the bear market last October. Yet it has persisted impressively.
As I write in early June, the Nasdaq Composite is up 43 percent since last fall. The Russell 2000 is up 35 percent, while the Dow Industrials and the S&P 500 are both up close to 25 percent. Such gains at this point are little short of astounding in the face of concerns over the slow pace of economic recovery, the federal and state budgetary ...