Stocks Reach Record Highs
Stocks reached new highs last week. The S&P 500 Index completed a V-shaped recovery last week to register its first record high since September 20, 2018, to close at 2933.68 on April 23 [Figure 1]. Here we share our thoughts on what this record could mean for stocks going forward.
Where Might Stocks Go from Here?
Our initial reaction to the new high last week was to celebrate the crowning of this bull market as the longest ever. If the S&P 500 hadn’t made a new high before its next bear market decline (20% or more), this bull would have ended short of the 10-year mark. So let’s first celebra... Read more