The S&P 500 is up over 15% this year and up almost 35% over the last 12 months. This week, the Dow Jones Industrial Average eclipsed 35,000 — another “round number milestone.”
A Quick Look Under the Hood
Short Pullback in a Long Bull Market
In recent weeks, the 10-year U.S. Treasury rose to three-and-a-quarter percent—a level not seen since 2011. In addition, the stock market sold off five percent from all-time highs, volatility has risen and the Chinese and European markets dipped. All this amid a backdrop of good corporate earnings and moderate-to-good economic news.