What is a bull market?

A bull market is an extended period of rising prices — conventionally a 20%+ gain from a recent low — accompanied by economic growth and rising investor confidence.

What actually drives a bull market?

Bull markets are typically accompanied by strong economic growth, low unemployment, rising corporate earnings, and improving investor confidence. They can last months or, as in the 2009–2020 US bull market, over a decade — there's no fixed duration or size that defines when one ends.

Frequently asked questions

How long do bull markets usually last?

There's no fixed duration — bull markets have run from a few months to over a decade (e.g. 2009-2020 in the US). Length depends on the underlying economic and earnings cycle.

Does a bull market mean every stock is a good buy?

No. Individual stocks can be expensive relative to their own fundamentals even in a rising broad market — a rising market is a market-conditions observation, not a per-ticker trade signal.

What's the opposite of a bull market?

A bear market — a sustained period of falling prices, conventionally a 20%+ decline from a recent high.

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Related terms

Educational research only — not investment advice.