Topics

Moody's Corporation
Nasdaq closes at record high of 5,056, beating dot-com mark
Nasdaq closes at record high of 5,056, beating dot-com mark

A surge in tech stocks helped push the Nasdaq composite index to an all-time high Thursday, eclipsing a record set at the peak of the dot-com boom 15 years ago. Unlike the boom days that quickly went bust, though, there's good reason for Nasdaq's steady climb from the Great Recession, analysts said: It's the earnings. The Nasdaq edged up 20.89 points, or 0.4%, to 5,056.06 as other major indexes also rose. The record of 5,048.62 was set March 10, 2000, when wild speculation in Internet and other tech-related stocks, along with now-discredited practices of Wall Street's sales machine, pushed stock prices far beyond even reasonable valuations. Analysts said today's...

Loading