The bull market celebrated its fourth anniversary on Monday, with the S&P 500 having risen nearly 120% since its October 12, 2022 closing low. Nvidia, the symbol of the artificial intelligence revolution, is now worth approximately $5.5 trillion in market capitalization. The S&P 500 crossed the 7,800 threshold for the first time last week, remaining near record highs with approximately 40% of the index concentrated in technology stocks. According to Oppenheimer’s historical analysis, this bull market ranks as the sixth longest out of 24 since 1932, with a median remaining duration of 13 months before the cycle peak, suggesting 2027 could mark the final phase of this rally, although the median fifth-year return is still estimated at 21%.
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