Nasdaq 100 Sees First Record Close Since February as Risks Ease
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThe Nasdaq 100 Index closed at its first record since February on Tuesday as a combination of robust fundamentals and easing geopolitical uncertainty are boosting the appeal of the growth-heavy gauge.
The rally represents a remarkable turnaround for the index, which had fallen as much as 23% from its most recent peak. Microchip Technology Inc., Micron Technology Inc. and Palantir Technologies Inc. have all jumped at least 80% since the index’s April 8 low.