Dow climbs 20% from low as stocks rally and inflation fears ebb

The surge in the oldest of Wall Street’s three main stock indexes meets what some investors define as a bull market. Though analysts don’t always share the same definition for when to call the end of a bear market, which they say can only be recognized in hindsight. Of course, the Dow, with only 30 large-cap companies, is a much narrower index than the S&P 500 Index or the Nasdaq 100 Index, which both have been weighed down by weakness in mega-cap growth shares. The S&P 500, however, is a market-cap-weighted index. “We’re likely much closer to the end of this hiking cycle and that should be a tailwind for stocks.”