Want to start an argument on Wall Street? Just ask about the bull market’s age.
“Hold the champagne! This is not the longest bull market on record or since WWII as the current buzz on the Street would have you believe,” wrote Jeff Hirsch, editor of the Stock Trader’s Almanac, in a blog post.
Indeed, many investors celebrated the “longest bull market” in history when the closing bell rang on Wednesday. At the end of the session, the S&P 500 SPX, -0.04% had managed to avoid a decline of 20% or more on a closing basis for 3,453 calendar days going back to the index’s bear-market low on March 9, 2009, in the midst of the worst global financial catastrophe since the Great Depression.
President Donald Trump also celebrated the longevity of the stock market’s upside run via Twitter:
Longest bull run in the history of the stock market, congratulations America!
— Donald J. Trump (@realDonaldTrump) August 22, 2018
