A bull market refers to a period in financial markets where prices of securities, such as stocks, are rising or are expected to rise. Typically, a bull market is characterized by a rise of 20% or more in major stock indices, like the S&P 500 or Dow Jones Industrial Average, from recent lows. This optimistic trend often encourages investor confidence and leads to increased buying activity. Bull markets can last for months or even years, driven by factors such as strong economic growth, low unemployment, and rising corporate profits. Investors often feel more confident during these times, leading to higher spending and investment. However, it's important to remember that bull markets can eventually transition into bear markets, where prices decline.