Nasdaq escapes longest bear market (by one measure) in 28 years [MSN Money]
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Source: MSN Money
The Nasdaq escapes longest bear market — by one measure — in 28 years © Dow Jon Market Data The Nasdaq Composite Index, oft used as a proxy for the health of technology and internet-related stocks, on Friday was on the verge of ding one of its longt bear market, by one measure, since 99. The Nasdaq closed on Friday at 7,7., eclipsing by a healthy margin the 7,.0 for the Nasdaq (COMP) need to rise 0% from its rect low on Dec. at 6,9.9. That 0% climb from a bear-market low is a commonly used definition for an exit from bear-market territory. The Nasdaq tered the corrective phase on Dec. , closing more than 0% below its all-time high set on Aug. 9 at 8,09.69, meeting the widely accepted definition for tering a bear market. After continuing its fall through Christmas Eve, marking its most rect bear-market low, the index has punched higher alongside other major bchmarks. The Nasdaq now stands about 7.9% shy of that August record, after booking eight straight weekly gains, reprting the lo
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