Wall Street experts are in the middle of an interesting debate about the official classification of the stock market. In June 2022, the benchmark S&P 500 index closed 20% below its all-time high, and Wall Street agreed that marked the beginning of a bear market. The widely followed index continued to slide in value until October.

The market has traded with a more positive tone since that October low. In fact, the S&P 500 trades about 19.4% above its October low point (and traded as much as 28.2% higher in late July), which led analysts at Bank of America Securities (among others) to declare the official start of a new bull market. However, not all professionals on the Street agree on what constitutes a bull market; others believe the index needs to reclaim its previous all-time high before the bear returns to hibernation.

No matter which camp is right, history is proof the S&P 500 always climbs to new highs given enough time. For that reason, investors should focus on buying quality stocks and holding them for the long term, because when a new bull market does officially arrive, they will be perfectly positioned to benefit.

Continue reading

Source Fool.com