Over The Edge?
According to Wall Street’s categorization rules, the S&P 500 index exited bear market territory on Thursday when it closed up more than 20% from its lows from October of last year after spending 248 days there - the longest bear stretch since 1948. However, it still ended the week 10% below its all-time high from January 3rd 2022.
While there’s absolutely nothing in the rules that says we can’t roll over into another new bear market right away, this one we’ve just been through is technically over. For what that’s worth.
With shadow of a debt ceiling crisis now gone and the regional banking…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.