For general discussion and debate. Possible talking point: are the bear market in stocks and the bull market in oil over?
The Standard & Poor's 500 Index rose 1.7 percent to 1,260.68 this week. The equity benchmark earlier this month fell more than 20 percent from its October peak, the threshold for a bear market, amid record oil prices and concerns about financial firms' liquidity. The Dow Jones Industrial Average added 3.6 percent to 11,496.57 after a three-day rally that was the biggest in five years...Crude oil, which hit a record of $147.27 a barrel July 11, plunged 11 percent for the week to $128.88 amid signs of a slowing global economy, faltering U.S. fuel demand and rising supplies.
For the record, the three-day rally in stocks was the biggest since March 2003, the beginning of this bull move after a three year bear market. Furthermore, this week's oil plunge was the largest in dollar terms in history.
Did the bear market in stocks and the bull market in oil end this week, or are these just short-term reversals in longer-term trends?