Word: bulls
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Considering such questions mere quibbles, many optimistic analysts are convinced that the crashing of the 2000 barrier is the start of another major market upsurge that might last anywhere from two to five years. That would be a truly extraordinary event, since the current bull has already lasted for 52 months, nearly twice as long as the 30-month average life of postwar bull markets. Nonetheless, declares Steven Einhorn, chief portfolio strategist for the Goldman Sachs investment house, "there is a lot of life left in this bull market...
...this bull market has never been driven by corporate profits. Instead, it has been fueled principally -- some would say only -- by the decline in U.S. interest rates. Every fall in rates makes bonds and other fixed-income investments seem less attractive to investors and thus increases the desirability of common stocks. In the past two years, for example, the return on 90-day Treasury bills, ordinarily a staple for conservative investors, has dropped from about...
...bull market has a father and protector, the honor can be claimed by Federal Reserve Chairman Paul Volcker. When the Dow hit a trough of 776.92 in August 1982 and the economy seemed hopelessly trapped in a recession, Volcker and his colleagues at the Fed were convinced that interest rates had to come down. No sooner had they loosened monetary policy than investors came storming back into the market. And as interest rates kept falling, the bulls kept buying. By November 1983 the Dow had reached a high of 1287.20. For the next year, the index more or less stagnated...
BUSINESS: The Dow Jones tops 2000 as Wall Street enters 1987 on a bull...
...stock market breaks through an important psychological barrier into uncharted territory. While professionals take the milestone in stride, many believe that the run-up marks the start of a third and major upsurge in the great bull market that began in 1982. -- Corporate Raider Carl Icahn gives up on his bid for USX. -- Defections plague a computer-industry alliance...