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Nasdaq breaks 5,000 barrier for first time since 2000
Nasdaq breaks 5,000 barrier for first time since 2000

For the first time since its dot-com era peak nearly 15 years ago, the Nasdaq composite has closed above 5,000. Major U.S. indexes rose from the start, with the Nasdaq passing the milestone number shortly before noon. The tech-heavy index then dropped, but rose again toward the close of trading to end at 5,008.10, just 40 points from its March 2000 record. Merger news and an encouraging economic report drove the gains. The long climb back for the Nasdaq, once a symbol of investor recklessness and self-delusion, has been marked by significant changes in its composition. Telecommunications stocks now represent less than 1 percent of the index, versus 12 percent in 2000. Gone also is the...

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