Running with the bulls

Long-term averages suggest shares are still relatively cheap, and have every reason to keep rising.

The most important stockmarket in the world is Wall Street, and the most important share indices in America are the S&P 500 (the top 500 listed companies) and the Dow Jones Index (the top 30 or so stocks weighed equally). The Dow Jones Industrial Average still survives because it’s been around since 1896, and so carries the mystique of antiquity.

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