We're In A Bull Market Now: Wall Street

Wall Street is feeling bullish again. The S&P 500 rallied Thursday to end the day in a bull market, marking a 20% surge since its most recent low, reached on October 12, 2022.

Photo Insert: Markets have remained surprisingly resilient over the past nine months, as 2022 losers like tech and media have bounced back from a disastrous year on hope that the worst is over for those industries.

That brings to end the bear market that began in January 2022, Nicole Goodkind reported for CNN.

Buoyed by gains in big technology stocks, the broad-based index closed at 4,293.93 and crossed the threshold that separates a bear market from a bull market — that’s investor-speak for a period of time marked by rising stock prices and optimism on Wall Street.

Investors are certainly in a buying mood: CNN’s Fear and Greed Index hit “Extreme Greed” Thursday.

Markets have remained surprisingly resilient over the past nine months, as 2022 losers like tech and media have bounced back from a disastrous year on hope that the worst is over for those industries.

The AI boom has fueled interest in tech stocks, which dominate the S&P 500. After a horrible year for Big Tech, optimism has returned as ChatGPT has made AI the it-thing in Silicon Valley.

Investors are placing big bets on Google, Meta, Apple, Amazon, Nvidia and others, hoping they can drive a new tech revolution with artificial intelligence.

Over the past week, markets have gained momentum, likely because of the end of the debt ceiling crisis, optimism that the Federal Reserve will pause rate hikes at its June meeting and a recent string of strong economic readings.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic