Nasdaq Momentum Is Hottest in 20 Years With Amazon Leading Surge
- Nasdaq 100 jumps almost 3% to all-time high on tech rally
- S&P 500 climbs 0.8% to the highest level since late February
Photographer: Michael Nagle/Bloomberg
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The stay-at-home trade roared back on Monday after a rough week, sending the Nasdaq 100 to its best gain in three months and pushing one measure of momentum to the highest in two decades.
The Nasdaq 100 rose almost 3% Monday, its best day versus the S&P 500 since mid-April. Meanwhile, the average S&P 500 stock dropped 0.5%. Gains in popular technology and Fang stocks lifted the benchmarks -- the Nasdaq is now up 25% in 2020 and the S&P 500 is positive for the year.