Bull or bear market? Wall Street undecided
Sunday, 29 March 2009
NEW YORK, Mar 28 (AFP): The Wall Street resurgence of the past weeks has pundits pondering: Has a new bull market begun after 17 months of horrific losses? Or is this just another heartbreaking "bear market" rally?
Bulls and bears both claim evidence in their favour after three consecutive weekly gains for the main US indexes.
Over the week to Friday, the Dow Jones Industrial Average lifted 6.84 per cent to 7,776.18 and the Standard & Poor's 500 index rallied 6.17 per cent to 815.94.
The technology-heavy Nasdaq posted a weekly gain of 6.03 per cent to end Friday at 1,545.20.
Bulls and bears both claim evidence in their favour after three consecutive weekly gains for the main US indexes.
Over the week to Friday, the Dow Jones Industrial Average lifted 6.84 per cent to 7,776.18 and the Standard & Poor's 500 index rallied 6.17 per cent to 815.94.
The technology-heavy Nasdaq posted a weekly gain of 6.03 per cent to end Friday at 1,545.20.