Monday, 22 February 2021

US stock market performance “dwarfs all previous bull markets”

The S&P 500 fell 0.7 percent last week, declining in all four trading sessions.

Still, the index is up 75 percent from its low in March last year, a performance that, according to Bloomberg, “dwarfs all previous bull markets at this stage of the cycle since the 1930s”.

“Dated from the last bear-market bottom, the boom cycle is young,” the Bloomberg report noted. “But its velocity makes up for the age.”

“I don’t think we’re at bubble levels yet, but there are certainly some red flags that would indicate folks are all-in on stocks and risk,” Michael Arone, chief investment strategist for the US SPDR exchange-traded fund business at State Street Global Advisors, was quoted as saying.

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