If you close your eyes, you can almost hear the sounds of stock market bells ringing and bulls stampeding. stock market euphoria is back, it seems.

Between May 4 and June 15, the Nasdaq has jumped 15%, while the S 500 is up 9%, and even the stodgy Dow Jones Industrial Average has tacked on 4%. Those indexes are responding to generally solid first-quarter earnings results, excitement over artificial intelligence, and signs that the underlying economy (including consumer demand and the labor market) has remained solid even as the Fed has jacked up interest rates and inflation has moderated.

Many financial-media outlets have declared that a new bull market has begun in all three indexes. Generally, they are defining a bull market as sustained gains of at least 20% from a recent low, and that declaration also appears to be boosting stocks as investors don't want to miss out on the next big rally.

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Source Fool.com