Thursday, 21 July 2016

Stocks rise as indices in US and Hong Kong point to new bull markets

Markets rose on Wednesday.

The S&P 500 rose 0.4 percent to close at a record high.

The STOXX Europe 600 rose 1.0 percent to a four-week.

Asian stocks were mostly higher. The MSCI Hong Kong Index in particular rose 1.1 percent to push gains since the January low to more than 20 percent, putting the market back in bull market territory.

Indeed, David Moenning said that the US stock market may also be said to be in a new bull market. The Dow Jones Industrial Average has advanced 18 percent from the February 11 low, which meets Ned Davis Research's definition of a bull market.

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