Article source: ConstructConnect
What’s that you say? There’s a ‘bull’ stock market underway! Yes, indeed, and it seems hard to believe, given that we were talking about ‘bear’ market conditions only a few months ago. A ‘bull’ is a gain of +20% or more in an index from its 52-week low and a ‘bear’ is a drop of -20% or more from its 52-week high.
As of its April 2023 month-end closing value, NASDAQ had fulfilled the requirement to be designated a ‘bull’ market, since it was +21.2% relative to its 52-week bottom touched on October 13, 2022. Both the DJI and the S&P 500 also had their recent nadirs on October 13 of last year and are now almost in bull territory, at +19.0% and +19.4% respectively.
Nearly every day, it seems, there is an announcement from some major company about significant job cuts that are taking place or are being planned. With such a background, what is it about the economy overall that is putting investors in a better mood?
