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Christine Lagarde

Bull market stalls; can it reignite in 2016?

Bull market stalls; can it reignite in 2016?

The year 2015 may end up best remembered for frustrating bulls and bears alike on Wall Street — and leaving little clarity for either about the new year.

The six-year-old stock bull market stalled out as most major U.S. share indexes posted losses for the 12 months. That disappointed the optimists.

But pessimists — and value hunters — also came away unsatisfied because the market's declines were generally modest. Bearish investors had expected much more damage to stocks given the wild swings markets endured after mid-year, amid global economic jitters and a collapse of oil prices.

The Dow Jones industrial average slipped 2.2% for the year after...