A close above 4,796.56 on the S&P 500 would confirm that the index has been in a bull market since bottoming out on Oct. 12, 2022, by one commonly used definition.
By that definition, the bear market that began when the S&P 500 hit its previous record on Jan. 3, 2022 was not particularly painful.
The S&P 500 closed down 25.4% at its lowest point, making this the fourth shallowest bear market experienced by the index since 1928, according to data from Yardeni Research.
Over the last 50 years, the S&P 500 has risen an average of 16% in the three-month period leading up to a bull market.
By contrast, the S&P 500 has logged average gains of just 0.2% and 2.0%, in the one-month and three-month period after a bull market is confirmed.
Persons:
Carlo Allegri, San Francisco Fed, Saqib Iqbal Ahmed, Ira Iosebashvili, Lisa Shumaker
Organizations:
St, REUTERS, Yardeni Research, Reuters, San Francisco, Thomson
Locations:
Manhattan, New York City , New York, U.S