Fidelity Institutional
May 09, 2025
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It’s possible we’re still in a long-term bull market​

Key Takeaways

  • Our Capital Markets Strategy Group believes we’ve seen three secular bull markets since 1949.
  • If the current bull market were to match the length of the previous postwar bulls (about 18 years), the S&P 500 might go through a pullback in 2025 but continue to rise through 2031 or 2032.
  • We cannot be certain that we’re still in a bull market, how long it may last if we are, and whether the S&P 500 will match the magnitude of its past moves. But neither did investors in the previous secular bulls.
  • Investors in those eras rode out more than a dozen pullbacks of 10% or more, growth and inflation concerns, headline risks, different rate environments, geopolitical issues, policy changes and more to benefit from the entirety of those secular bull markets.

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