Why the bear market isn't over

Investors finally got the inflation reading they were looking for and are likely to get a divided government for the next two years. That combination shot the stock to its best weekly performance since June. In Friday,

S&P 500

it even briefly crossed the 4,000 mark, a level it hadn’t crossed in two months.

The S&P ended the week 5.9% higher, closing just below 4000. The

Dow Jones Industrial Average

grew by 4.1%, a

Nasdaq Composite

jumped 8.1%. It was the best weekly performance for the Nasdaq since March and came in a week when tech news looked largely negative. Facebook parent

Meta platforms

(ticker: META) announced it will cut 11,000 jobs, the latest in a wave of layoffs in Silicon Valley. The best thing Facebook can say about itself right now is that it’s not Twitter.

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