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Article: Bull market is back, but will it stay?
- Article from:
- AP Worldstream
- Article date:
- July 3, 2003
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Dateline: NEW YORK
The bull market is back, according to at least some definitions of
the term.
The Standard & Poor's 500 index this past week posted its best quarterly
gain since late 1998. Wall Street's three main gauges are at their
highest levels in a year. Investors are more upbeat that an economic
rebound, three years in coming, is now under way.
Still, the bull market label gives investors a false hope of future,
sustainable gains, according to experts.
"I've seen a concrete definition of a bear market as being down 20
percent, so for bull markets you could say it means rising 20 percent,
" said Robert Shiller, a Yale economics professor and author ...