Nasdaq breaches 6000 mark for first time ever

The Nasdaq closed above 6,000 for the first time on Tuesday (Apr 25) following a round of mostly strong corporate earnings and ahead of the White House's long-awaited tax cut announcement on Wednesday.

All of these stocks have hit all-time highs at some point in the last 6 months, and a lot of them have again reached new highs over the last few weeks. Over the past four quarters, 71 per cent of the companies had beaten estimates.

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 30-share Dow Jones industrial average did best among the main Wall Street indices, rising by 1.1 per cent to 20,996.12 as McDonald's, the hamburger chain, ...

Since Trump's electoral victory last November, the Nasdaq has increased 15.7%, more than the Dow with 14.3% and S&P 500 with 11.5%.


As a refresher, the Nasdaq composite is an index of all the stocks that now trade on the NASDAQ.

The first quarter this year has featured good earnings news.

It is the Nasdaq's first thousand-point jump since the dot-com era, when it took 49 trading days to climb to 5000 and exuberance for tech stocks helped companies like the now-defunct Pets.com go public.

The S&P 500 index showed 57 52-week highs and two lows, while the Nasdaq recorded 114 highs and nine lows.

On the data front, the Conference Board's consumer confidence index fell to 120.3 in April from 124.9 the month earlier and slightly below the consensus forecast of 122.5.


Popular
  • Eyeing 2019, BJP to hold national executive meet in Odisha on Saturday

    Eyeing 2019, BJP to hold national executive meet in Odisha on Saturday

    The BJP organised a motorcycle rally to welcome him. "Now show your strength to serve the people and the down trodden", Shah said. Gadkari said, during the meeting, Muslim women who are facing difficulties on the issue of triple talaq , was also discussed.
    Three New iPhones Coming; Release Possibly Delayed

    Three New iPhones Coming; Release Possibly Delayed

    In addition, Macotakara believes that the rumored vertical dual camera orientation on the back will make VR features possible. Japanese blog, Mac Otakara has published a report about the latest rumours of Apple's upcoming handset, the iPhone 8.
    Starbucks hue- and flavor-shifting beverage won't last long

    Starbucks hue- and flavor-shifting beverage won't last long

    Earlier this month, Seattle-based Starbucks also introduced a "Pink Drink" made with coconut milk and topped with strawberries. And Twitter user "Mair" wrote: "Gutted that the Starbucks unicorn frappucino is a U.S. only thing, they look so cool:ccccc".
  • Unemployment rates fall to record lows in 4 US states

    In five states is it much lower, below 2.9%, which shows how much the jobless situation can differ from place to place. The preliminary seasonally adjusted unemployment rate for March was 3 percent, the state Department of Labor said.
    WS Atkins agrees to takeover by SNC-Lavalin

    WS Atkins agrees to takeover by SNC-Lavalin

    This values Atkins at £2∙1bn and represents a premium of 35% on the closing price of its shares on March 31. SNC's funding will also include an $800 million public bought-deal offering, the company said.
    Lung Association Ranks San Diego 7th Dirtiest City For Ozone Pollution

    Lung Association Ranks San Diego 7th Dirtiest City For Ozone Pollution

    Anne Mellinger Birdsong, a pediatrician and member of Mothers & Others for Clean Air, said in a statement. In Nebraska, Grand Island is ranked as one of the cleanest US cities with short term particle pollution .
  • Record Store Day 2017 Celebrates Its 10th Anniversary On Saturday

    Record Store Day 2017 Celebrates Its 10th Anniversary On Saturday

    The BPI said that vinyl, which has hit a 25 year high, now accounts for 15% of physical album turnover. There's something special about the sound of a record, and today's the day you can celebrate it.

    Bulls early surprise of playoffs after taking 2 at Boston

    After the game, Larry Bird of the Celtics said: "I didn't think anyone was capable of doing what Michael has done to us". Stevens wouldn't discuss who the team's best - or worst - players have been over the first two games of the series.
    Showers possible Thursday, National Weather Service says

    Showers possible Thursday, National Weather Service says

    One more day of showers is forecast for Sacramento before almost a week of sunshine, according to the National Weather Service . This activity should slide across the region later Thursday afternoon and especially Thursday night .
  • Newly released Egyptian-American charity worker visits Trump

    Folks on social media couldn't help but compare this prisoner release to the one the Obama administration negotiated with Iran. Critics had accused the Obama administration of indifference to her case.

    Bill O'Reilly Scandal

    Although O'Reilly seems inseparable from the Fox News brand, media observers have been split over whether he might be forced to leave.
    5 things to know about Tax Day: refunds are up, audits down

    5 things to know about Tax Day: refunds are up, audits down

    Images of tax protesters in cities including Washington , Philadelphia, Chicago , Los Angeles and NY flooded social media. Organizers say similar Tax Day protests are being held in about 150 cities to demand that Trump release his tax returns.

CONNECT