S&P Rallies to Break Out of Bear Market and Into Bull Territory

S&P Rallies to Break Out of Bear Market and Into Bull Territory

S&P Rallies , to Break Out of Bear Market , and Into Bull Territory.

On June 8, the S&P 500 rallied to reach a bull market, surging 20% since hitting a recent low in mid-October of 2022.

CNN reports that the news marks the end of a bear market that started back in January of last year.

Big gains in technology stocks helped the broad-based index close the day at 4,293.93 and break out of bear market status.

Markets that saw major losses in 2022, like tech, bounced back on a recent surge of interest in AI and subsequent huge investments on hopes of a new tech revolution.

Markets have been gaining momentum amid hopes that the Federal Reserve will put a hold on rate hikes following the conclusion of the debt ceiling crisis.

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Markets have been gaining momentum amid hopes that the Federal Reserve will put a hold on rate hikes following the conclusion of the debt ceiling crisis.

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CNN reports that analysts have cautioned that while the market has been improving, signs suggest that the current situation may not be ideal for long-term success.

CNN reports that analysts have cautioned that while the market has been improving, signs suggest that the current situation may not be ideal for long-term success.

Inflation remains high, job market growth has begun to slow and consumer spending is cutting back to focus on necessities like food and leisure.

Inflation remains high, job market growth has begun to slow and consumer spending is cutting back to focus on necessities like food and leisure.

We’re very late in the economic cycle that’s starting to slow and probably heading for a recession later this year, Sameer Samana, Senior global market strategist for Wells Fargo Investment Institute, via CNN.

The key difference for us is that you tend to see bull markets coincide with economic expansions, not economic contractions, Sameer Samana, Senior global market strategist for Wells Fargo Investment Institute, via CNN.

According to Sam Stovall, chief investment strategist at CFRA, how long the market stays in bull territory is dependent on the next Fed interest rate policy decision.

According to Sam Stovall, chief investment strategist at CFRA, how long the market stays in bull territory is dependent on the next Fed interest rate policy decision