With the return of the Dow Jones Industrial Average to the 10,000-plus point mark, the question has to be asked: How long will the bull market last?
War and post-heavy conflict chaos in Iraq, the Mad Cow scare that has infiltrated the beef industry and scandalous headaches scattered across business pages do not usually spell long-term success. According to Barrons, the current success might be the work of the Federal Reserve, which has kept interest rates low and hence investors gratitude and attitudes high.
President Bushs injection of across-the-board tax cuts has resulted in some decent initial results too. But several analysts told Barrons they think the market will continue its surge, including Prudential Chief Investment Strategist Edward Yardeni, who thinks the Dow will rise to 11,700 before 2004 is out.