Nasdaq Enters New Bull Market, But Uncertainty Clouds Outlook
• The Nasdaq Composite recently entered a new bull market, defined as a 20% rise from a bear market low plus reaching a new record high
• Historically the Nasdaq has returned an average of 215% over 1,223 days (about 40 months) during past bull markets since 1990
• Based on history, the Nasdaq could return 157% over the next 25 months, or 57% annually through April 2026
• However, current high valuations and economic uncertainty mean this bull market may not follow historical trends
• Over the long-term, the Nasdaq has delivered 11% annualized returns since 1990, so this remains a reasonable expectation for long-term investors