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Time to say bye-bye to the bear?

Investment News

| May 07, 2001 | Miller, Rick | COPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Surprise GDP report, likely rate cut fuel rise

In case you missed it -- or were too dazed to notice -- the stock market has bottomed.

"The bear is dead!" screamed a recent stock market report from Alfred E. Goldman, chief market strategist for A.G. Edwards Inc. in St. Louis.

Maybe it's a rash pronouncement, but other economists and market strategists are preparing eulogies as well.

For the record, the Dow Jones Industrial Average hit its low of 9389.48 on March 22, and the Standard & Poor's 500 stock index and Nasdaq Composite Index bottomed out at 1103.25 and 1638.80, respectively, on April 4.

Last Friday, the Dow soared 154.59 points, closing at 10951.24, while the Nasdaq and S&P 500 gained 45.48 and 18.03, respectively.

On the week, the indexes were up 1.3 1%, 5.50% and 1.08%.

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Source: HighBeam Research, Time to say bye-bye to the bear?

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