Nasdaq Composite Index Reaches 5000 for First Time Since 2000
How Is Market Today Different From Market in 2000?
U.S. stocks rose to fresh highs, with the Nasdaq Composite Index breaching 5,000 for the first time in 15 years, while Treasuries fell as rising consumer purchases signaled strength in the biggest part of the American economy. The dollar advanced and Brent crude oil slumped.
The Nasdaq Composite added 0.9 percent to 5,008.10 by 4 p.m. in New York, as both the Standard & Poor’s 500 Index and the Dow Jones Industrial Average rallied to records. The Stoxx Europe 600 Index retreated 0.2 percent. Yields on 10-year Treasuries rose nine basis points to 2.09 percent. The Bloomberg Dollar Spot Index gained 0.4 percent, while the yuan slipped to a two-year low after China cut interest rates. Brent slid 4.9 percent from its highest level in 2015 on concern over the global oil surplus, while U.S. crude dropped 0.3 percent.