Nasdaq ends above 6000 for first time as USA stocks rally again

Time for Trump to deliver on his tax promises
Nasdaq ends above 6000 for first time as USA stocks rally again
Author

26 April, 2017

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

The top five USA companies by market capitalization, Apple AAPL.O , Alphabet GOOGL.O , Microsoft MSFT.O , Amazon AMZN.O and Facebook FB.O , are Nasdaq components.

Nine of the 11 major S&P 500 sectors were higher, with materials and financials in the lead. The Nasdaq Composite is up around 12% year to date.

"If the economy is going to heat up, you want to be in an area that can keep up", said Robert Pavlik, chief market strategist and senior portfolio manager at Boston Private Wealth.

Lockheed Martin was down 2.2% after the USA contractor trimmed its outlook it after it missed revenue forecasts, while, Eli Lilly & Co fell 2.76% after the drugmaker swung to a first-quarter loss. The firm had reported earnings of 52 cents a share in the year-earlier period. Quarterly figures from Alphabet, Amazon and Microsoft are due tomorrow.

The Dow Jones industrial average was up 155.57 points, or 0.75 per cent, at 20,919.46, the S&P 500 was up 7.87 points, or 0.331487 per cent, at 2,382.02 and the Nasdaq composite was up 20.35 points, or 0.34 per cent, at 6,004.17. However, the bubble burst and the Nasdaq did not return to the 5,000 mark again until March 2015.

More news: Cards' Wainwright has HR, 4 RBIs in first win of season

Today's Nasdaq looks different than it did then.

The index had a previous high 5916.77737 on 04/20/2017.

A rally in biotechnology shares has given the Nasdaq a boost in 2017.

NSE index ended above the 9,300 level for the first time on Tuesday, helped by a string of strong quarterly results including from Reliance Industries Ltd and positive global cues.

"Tech is always going to be the group that pulls in investors chasing growth", said Boston Private Wealth's Mr. Pavlik.


More news


  • United Continental Says CEO Oscar Munoz Won't Become Chairman as Planned

    Senators on the Commerce, Science and Transportation had given United until April 20 to respond to questions. "So when it gets to this, suffice to say they are falls which cause us to make those kinds of changes".
    Unilever sales rise on higher prices

    Unilever sales rise on higher prices

    Unilever's turnover was up 6.1% at EUR13.3bn, including a 2.4 percentage point benefit from exchange rates. The company's shares are up 1.5% as sales rose 2.9% in its first quarter beating a forecast of 2%.
    Canada police charge woman with smuggling refugees from US

    Canada police charge woman with smuggling refugees from US

    The arrests are part of an ongoing joint four-month investigation by Canada and USA authorities into organised human smuggling. Border Patrol has arrested other people related to the same investigation, but no details have been released.
  • Apple touts greater use of recycled metal in gadgets

    Apple VP of environmental, policy and social initiatives Lisa Jackson explained that the move is an important one. Currently, only a minority of the materials the company uses are recycled.
    Microsoft's authenticator is now all you need to log in

    Microsoft's authenticator is now all you need to log in

    The Verge reports that the To-Do list application also incorporates lists with emojis in order for users to easily identify them. The preview is now available for iPhone (iOS 9.0 or later), Android (4.4 or higher), Windows 10 and Windows 10 Mobile and Web.

    Islamic State attacked Iraq forces "with chemical weapons"

    A member of the Iraqi forces carries a rocket launcher on his back in the old city of Mosul on April 16, 2017. The UN estimated that another half million civilians were still in ISIS-controlled areas of west Mosul .
  • Canadian PM responds to Trump's criticism of dairy industry

    Trump also took the opportunity to slam NAFTA, the free trade deal linking the US, Mexico and Canada, calling it a "disaster for our country".
    Moto X 2017 Images leaked; Reveal Front Flash and Fingerprint Scanner

    Moto X 2017 Images leaked; Reveal Front Flash and Fingerprint Scanner

    Last month few images of upcoming Moto X 2017 leaked online and now few more images of same device have surfaced online. With this latest available information, selfies are expected to be brighter, crisper, and more vivid.

    Trump says 'no deal' was made for charity worker

    Egypt had never produced evidence of a crime in the case of Hijazi and Hassanein and had delayed their trial several times. USA officials had raised Hijazi's case with the Egyptians soon after Trump took office on January 20, the official said.
  • Saudi King appoints his son ambassador to the U.S

    King Salman has also sought closer ties with Turkey and Qatar, which have tense relations with Egypt. The king fired his civil service minister and put him under investigation for abuse of office.
    FDA further restricts pain medication use in kids

    FDA further restricts pain medication use in kids

    Apparently, narcotics such as codeine and tramadol can be fatal when used by children. In the body, opioid painkillers and cough medicines are broken down into morphine .
    Another nearby planet found that may be just right for life

    Another nearby planet found that may be just right for life

    This week, Harvard researchers announced the discovery of a planet called LHS 1140b hanging around not far from Earth. We also expect - and hope to check with future data - that the star is very quiet at high energies as well.