Monday, 19 March 2018

After nine-year bull run, US stock market expected to “push even higher”

CNBC reported that the bull market celebrated its ninth birthday on Friday.

It said that the bull run in the Dow Jones industrial Average is the longest ever and the greatest percentage gain since World War II while it is the S&P 500's second-largest and second-longest bull market ever.

“Assuming the Dow Jones industrial average can exceed its late-January high on March 9th or thereafter, this cyclical bull market will become the first one ever to last nine years,” said Doug Ramsey, chief investment officer at Leuthold Group. “Historically, cycle momentum highs are usually followed by a push to even higher price highs over the next several months.”

While political turmoil surrounding US President Donald Trump's administration is a risk factor, Lori Calvasina, head of equity strategy at RBC Capital Markets, told CNBC last week that it is “not enough to derail the bull case at this point”.

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