It might be premature to declare the bear market dead, but Thursday's action sure checked off some important boxes.
Conventional Wall Street wisdom is that bear markets, or 20% declines from 52-week highs, die on bad news, and Thursday featured some of the worst the U.S. economy has ever seen.for the week ended March 21, marking the worst week ever, by far. The second-worst number came during the 1982 recession, and the report released Thursday was more than quadrupled that total., which would define a bull market.
There wasn't much sense to be made of the move Thursday, but it did spark talk that the worst of the market damage from the coronavirus crisis could be over. For a bottom to start forming "we'll need to see investors using that term, that it's less bad," said Quincy Krosby, chief market strategist at Prudential Financial. "That's typically what you wait for to begin to invest in earnest instead of just trading."
"The indiscriminate selling that you saw in order to raise money has eased, and that also matters," she said.While the data is likely to continue to be bad for a couple of months, a pronounced recovery is expected to follow. Federal Reserve Chairman Jerome Powell told NBC's "TODAY" show Thursday
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