The Bull Market Defined...

The MSCI All-Country World Index of shares in 45 nations completed a 20 percent rally from its October low yesterday, meeting the definition of a bull market. The S&P 500 yesterday closed 1 percent away from its peak nine months ago of 1,363.61, which was the highest level since June 2008. It had risen 7.3 percent this year through yesterday amid better-than-expected economic data and corporate profits.