This bull market has been going strong for over eight years. And a lot of the classic warning signs are flashing red and the bears no it. UNFORTUNATELY, history shows that some of the biggest gains in the stock market occur when bull markets are about to end.
The large valuations of Uber Technologies Inc. and Lyft Inc. may be justified as analysts see the ride-hailing industry growing to $285 billion by 2030.
While gains were broad based, the consumer discretionary index's (.SPLRCD) 1.03 percent surge was easily the highest among the 11 major S&P sectors. Best Buy (BBY.N) surged as much as 19.4 percent to a record high of $60.24, making it the top gainer on the S&P, as its comparable sales unexpectedly rose last quarter. Tommy Hilfiger-owner PVH (PVH.N) was second-biggest S&P gainer with a 7 percent jump to a near 6-month high on strong results.