U.S. bull market now longest in history -- 3,453 days - Kogonuso


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Aug 23, 2018

U.S. bull market now longest in history -- 3,453 days

U.S. stocks are now riding the longest bull market in history -- at 3,453 days.

The milestone was achieved with Wednesday's closing bell. It came nearly a decade after the S&P 500 bottomed out as a result of the financial crisis.

The S&P 500 hit a low of 666 on March 9, 2009. Since then, stocks have grown by more than 300 percent.

The last time a bull market ran for so long was 1990 to 2000. Although the details of what constitutes a bull market can vary by expert.

"There are conflicting views," Kurt Spieler, chief investment officer at First National Bank of Omaha, said. "Don't let the age of the bull market affect portfolio or investing decisions."

The bull market, a trend of rising stocks, is the opposite of a bear market, where stocks are falling.

Tony Drake, a certified financial planner and CEO of Drake & Associates, warned that a bear market could still be on the horizon even though the market looks strong.

"All market cycles do come to an end," Drake told PBS.

President Donald Trump told Fox News Thursday the bull market would crash if he left office.

"I don't know how you can impeach somebody who's done a great job," he said. "If I ever got impeached, I think the market would crash, I think everybody would be very poor, because without this thinking, you would see-you would see numbers that you wouldn't believe in reverse."

Trump was asked if he thought he'd be impeached if Democrats win a majority in Congress this fall.

Earlier this week, former Trump campaign manager Paul Manafort was convicted on eight counts in a bank fraud trial. His former personal attorney Michael Cohen pleaded guilty to attempting to influence the 2016 presidential election by paying two women in exchange for their silence on alleged affairs they had with Trump. Cohen said the moves were made "at the direction of" Trump.

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