Eric Miller, Noted Strategist Of 1980s Bull Market, Dies At 85

At the end of bull markets, investors become more and more selective so fewer stocks participate in the uptrend. In addition, expected volatility is at low levels. Toward the end of bull markets, investors become complacent and their expectation for volatility is low. One catalyst that could get the blame for a market drop is the Federal Reserve tapering its quantitative easing, or bond purchasing, program. When it stops buying bonds, bond prices will decline and interest rates will rise.

HOW THE MARKET REACTED: Stocks climbed on the news initially, as hopes rose for more economic stimulus from the Fed. Then, escalating tensions between the U.S. and Syria pushed the market down. By the end of the day, the stock market ended mostly flat.

al-Sheikh told investors that his Capital Market Authority would very soon complete a series of regulatory changes he has undertaken to make the kingdoms stock market less volatile and more transparent. Those measures have ranged from capping price changes of stocks on their first day of trading to requiring listed companies to promptly report any plant shutdowns or other news that might impact their bottom line. We are not entirely satisfied yet, the Capital Market Authority chairman told investors. But the authority will overcome the logistical difficultiesto have a market that is attractive to foreign investors and local investors. The question of when Saudi Arabia would open its stock market more fully to foreigners has been the top topic of discussion among outside investors, at least, for years.

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