The bull market will celebrate its tenth birthday on March 9, 2019. During that period, the S&P 500 Index has increased more than fourfold in value, producing a total return of 410% (17.7% annualized) while rising 314% in price.

This week we reassess the stock market landscape following the latest rally. Specifically, we answer five of the most common questions we’ve received recently. We use multiple lenses to assess the stock market, including fundamentals, valuations, and technical analysis.

The rally continues, as the S&P 500 Index gained for the seventh week out of the past eight, while the Dow Jones Industrial Average, Russell 2000 Index, and Nasdaq all closed higher for the eighth consecutive week. Sparking the rally this week were Washington striking a deal to avoid another government shutdown and hopes that…

Earnings growth slowed in the fourth quarter but was still solid. With two-thirds of the S&P 500 Index companies having reported results so far, corporate America has delivered solid earnings growth—for the quarter. However, slowing global growth and trade tensions have challenged the outlook, setting up slower earnings gains in the coming year.

That Was the Easy Part

Is the Fed Almost Done? We expect the Fed to pause interest rate hikes this week. While the market environment has been challenging, we think recent weakness increases the chances of a positive market response post-tightening cycle.