Wall Street is heading for its longest bull run since World War 2
The current bull market, which began in 2009, got a major boost when Trump pushed through tax cuts for corporates in 2017 and shows no signs of abating
New York — Bolstered by a period of extraordinary monetary stimulus followed by generous tax cuts, Wall Street stands at the cusp of another landmark this week. The US stock market on Wednesday will mark 3,453 straight days without suffering a drop of 20%. That makes it the longest "bull market" since World War II, according to leading Wall Street statisticians. "It’s an encouraging milestone because it’s the sign that there is life left in this market," said Sam Stovall, chief investment strategist at CFRA Research. The marathon march higher began in March 2009, just after the financial crisis erased more than half the value of the S&P 500, the broad-based US stock index. When stocks fall at least 20% below their previous record, they exit a "bull market" and enter a "bear market." Although "bulls" and "bears" are very much in the psyche of Wall Street, there is no official authority on these designations and some experts quibble over the dates. The current bull market began amid t...
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