Nasdaq Composite Tops 6000 for First Time

Miranda GreerApr 26, 2017

Editor's Remarks: The Nasdaq has swelled nearly 12% this year, spurred by a healthy appetite for shares in tech firms, particularly in the "Fang" stocks - Facebook, Amazon, Netflix and Google.

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%.

All five of these companies report earnings over the next week or so, meaning this strong growth may continue if they can meet or beat analyst's expectations for the last quarter.

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. Biogen reported solid earnings for 2017's first quarter, with the help of a new drug that combats a rare infant disease. The firm had reported earnings of 52 cents a share in the year-earlier period.

The Nasdaq composite jumped about 0.8 percent, sending the index above 6,000 for this first time ever. Quarterly figures from Alphabet, Amazon and Microsoft are due tomorrow. The Nasdaq erased more than 30% in 10 weeks from a peak on March 10, 2000, and didn't close above 5000 again until March 2015.

Better-than-expected profits at McDonald's and Caterpillar helped the Dow outperform other major Wall Street indexes.

The Nasdaq composite just passed 6000 for the first time, hitting an all-time intraday high in the process.

Biogen provided the biggest boost to the Nasdaq after strong results.

Following Election Day, the S&P 500 had the biggest one-month rally in the its 93 years of existence.

Related Articles:



« Previous article
Next article »


Popular Pages

York Region police arrest more than 100 men in child prostitution case
No details about the men have been released, including their names, nor have police outlined the nature of the charges they face. Thai Truong said over the last three years York Regional Police officers developed personas as pimps and traffickers.

Bulls' Rondo Fined for Attempting to Trip Celtics' Crowder
I stretched my leg out. "I guess he was so deep into our bench, it looked maybe whatever may have happened". In regard to his excellent play, we should have known better.

Canada police charge woman with smuggling refugees from US
Border Patrol agents in connection with the case. "They're conducting a parallel investigation on the south side of the border. They have filed refugee claims and are living in Canada while they wait for their claims to be decided, police said.

Sanchez sends Arsenal into FA Cup final with win over City
ARSENE WENGER hailed his "animal" Cup hero Alexis Sanchez and insisted he WILL be at Arsenal next season. Yaya Toure intercepted and quickly chipped the ball over the Arsenal defense to Sergio Aguero.

State Department promotion of Trump's Mar-a-Lago draws fire
Jordan Libowitz of Citizens for Responsibility and Ethics in Washington said the post "reads nearly like an ad for Mar-a-Lago". Nonetheless, Eric Trump recently compared his father's visits to Mar-a-Lago to President George W.

Petitions to cancel Turkey referendum result rejected by electoral board
Erdogan rejected accusations that the new powers were aimed at personal gain rather than improving Turkey's political system. Kilicdaroglu said he respected the nation's will but criticized the board's decision to allow unsealed ballots.

Egypt president in Saudi Arabia to reaffirm ties
The visit comes in response to an invitation from the King within their two countries' interests in resuming joint coordination. Prince Khalid Bin Salman has been appointed Saudi Arabia's Ambassador to the USA in place of Prince Abdullah Bin Faisal Al-Saud.

Kourtney Kardashian Proves She's Still Got It In Totally Naked Birthday Snap
The Kardashian-Jenner clan matriarch, Kris Jenner, took to Instagram to share a heartfelt post to celebrate Kourtney's birthday. Kourtney Kardashian and Scott Disick may have split up almost two years ago, but they still have fun with one another.

Clashes break out in Srinagar college
A police control room official said that students had come out on the roads and security forces retaliated to quell the protests. Also Monday, suspected rebels shot and killed a pro-India politician, Abdul Gani, near the town of Pulwama, police said.

Unemployment rates fall to record lows in 4 US states
Utah had an unemployment rate of 3.1 percent and Arizona and Texas each had rates of 5 percent. The local figure compares to a rate of 5.1 percent for California and 4.6 percent nationwide.