Nasdaq Composite Tops 6000 for First Time

Author

26 April, 2017

While its hard to pinpoint exactly what is causing this bull rally, many attribute it towards positive sentiment regarding future corporate tax reform from the White House, as well as generally strong earnings from tech companies over the past few quarters. That bubble, fueled by the dot-com boom, burst spectacularly in early 2000 as many of its profitless but buzzed-about startups reversed their trajectories and crashed to earth.

The tech-heavy Nasdaq rose as much as 0.4 percent to hit a record level of 6,007.72 helped by gains in Biogen and Apple.

The Dow Jones Industrial Average jumped 232.23 points (1.12 per cent) to end the day at 20,996.12, while the S&P 500 rose 14.46 points (0.61 per cent) to 2,388.61.

The Nasdaq Composite has crossed the 6,000-point milestone as investors flock to tech companies with strong growth outlooks.

Bulls' Rondo fined for attempting to trip Celtics' Crowder
He scored eight points in the third quarter, helping the Celtics regain control, and finished with nine assists in the game. And despite an ugly 17-point loss that looked familiar to the crowd of 21,293, the Bulls still can advance without Rondo.

Of course the stock market in general has also been on a tear recently - the S&P 500 is up 20% over the last year, and the Russell 200 is up 30% over the past year.

The first quarter this year has featured good earnings news. Shares of consumer, health-care and financial companies represent a growing share of the index.

The headline index was depressed by a 5.7 point drop in the expectations index and a 3.3 point dip in the current conditions number. And markets were relieved that the centrist presidential candidate in France, Emmanuel Macron, appeared the favorite over rightwing firebrand Marine Le Pen for that nation's May 7 presidential election runoff.


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