NEW YORK — The bull market for U.S. stocks turns 10 years old this weekend, which puts it way past senior citizen status for a market run. It’s got the scars to prove it.
This bull market has rewarded the faithful with a return of more than 400 per cent, including dividends. Even investors who bought S&P 500 index funds at the 2007 peak and subsequently lost more than half their money now have more than double what they started with. That is, as long as they resisted the urge to sell each time skeptics said the bull was ready to collapse.
A chaotic week in 2011By the summer of 2011, investors’ worries about Europe’s debt problems had spread beyond Greece to Spain, Italy and other countries around the European periphery. The U.S. economy, meanwhile, was still considered fragile, and the unemployment rate remained around 9 per cent. China takes centre stageDuring this bull market, China overtook Japan to become the world’s second-largest economy. More importantly, China provided much of the momentum for a global economy that was desperate for growth following the Great Recession.
Too much of a good thing?In early 2018, stocks were surging because both the economy and corporate profits looked strong.
For 9 years ok. The 2018 and 2019 year to date has been pretty flat.
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