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.


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