We're Officially in the Longest Bull Market Ever

We're Officially in the Longest Bull Market Ever

A market is traditionally considered to have turned from a bull to a bear market when the benchmark Standard & Poor's 500 index of major US stocks loses more than 20 percent of its value.

The index's bull-market run - a period of rising share prices without a 20% fall, which would indicate a bear market - is now 3,452 days old and on Wednesday is set to become the longest such streak in history.

The bull market stumbled at times during its run, most recently in February, when the S&P 500 fell 10 per cent from its January all-time high.

The S&P 500 saw resistance near a new closing high, with the Dow Jones also closing lower on Wednesday.

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The ongoing spat between Donald Trump and China, which has seen both countries slap tariff on each other's product, hasn't done much in deterring the market. USA stocks were poised for modest losses at the open with Dow futures and the broader S&P 500 futures down 0.2 percent. "I do expect the markets to go back and forth, but today the swings are not that large", said Peter Lazaroff, co-chief information officer at Plancorp in Saint Louis, Missouri. The Dow Jones Industrial Average has appreciated about 300 percent.

The Dow Jones Industrial Average .DJI fell 75.62 points, or 0.29 percent, to 25,746.67, the S&P 500 .SPX lost 0.82 points, or 0.03 percent, to 2,862.14 and the Nasdaq Composite .IXIC added 23.60 points, or 0.3 percent, to 7,882.77.

The S&P 500 energy index .SPNY rose 0.9 percent and the S&P 500 materials index .SPLRCM gained 0.6 percent, in tandem with higher prices for oil and metals.

Trump has pointed to the stock market as a sign that the economic policies he's implemented are working.

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Toll Brothers Inc jumped 6.5 percent after the luxury homebuilder topped analysts' estimate for quarterly profits. The Nasdaq composite slipped 7 points, or 0.1 percent, to 7,881.

Advancing issues outnumbered declining ones on the NYSE by a 1.08-to-1 ratio; on Nasdaq, a 1.37-to-1 ratio favored advancers.

Concern over an economic slowdown in China was the driving force behind the steep S&P 500 sell-off in 2015.

Volume on USA exchanges was 5.86 billion shares, compared with the 6.49 billion average over the last 20 trading days.

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