All-Time High for the Nasdaq

The stock market is up nicely so far today. This could be our sixth gain in the last eight sessions. The S&P 500 may be able to close at its highest point in nearly two weeks.

The Nasdaq hit a record high today. Michael Batnick points out that the Big Five (Apple, Google, Amazon, Facebook and Microsoft) now account for 22% of the S&P 500. That’s over $6 trillion. Four of the five are at new highs today. Only Google is left out.

The markets were nervous overnight as there were concerns about a trade deal between the United States and China. I’m glad to see that’s gone.

This morning’s new-home sales report showed an increase to 676,000 (that’s the annualized figure). Wall Street had been expecting 640,000. The previous three months were revised down.

Posted by on June 23rd, 2020 at 10:31 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.