New York Post

Nasdaq 6K: The razzle dazzle’s back

- By KEVIN DUGAN

The Nasdaq is finally getting its mojo back.

The tech-heavy stock index — which had been overshadow­ed of late as the Dow blew past the 20,000 and 21,000 marks in recent months — surpassed 6,000 for the first time in its history Tuesday, closing at 6,025.49.

The Nasdaq’s record, driven as Facebook, Alphabet and Netflix attained all-time highs on Tuesday, came 17 years after the index passed the 5,000 mark at the height of the dotcom bubble in 2000.

“The reason the Nasdaq has been the strongest of the major indexes is that’s where the growth is,” Ian Winer, head of equities at Wedbush, told The Post.

Neverthele­ss, other indexes surged even more, driven by unexpected­ly high profits from blue-chip firms including McDonald’s and Caterpilla­r.

The Dow Jones industrial average climbed 1.1 percent to 20,996.12 — the highest level since March 6, and the fourth-highest close in its history.

Wall Street was also buoyed by reports that President Trump was looking to slash the corporate tax rate to 15 percent from around 35 percent now — even though few believe he’ll be able to pull it off.

“I don’t think anybody really believes he’s going to get 15 percent,” Winer said.

Major Wall Street banks have thus far been unconvince­d that Trump will pass any tax reform bill this year amid his push to revive a replacemen­t for ObamaCare, The Post reported last week.

Since Trump has signaled that he is willing to add to the federal deficit in order to accomplish his tax plan, investors have been more bullish on the plan, Winer said.

“The fear was it was going to be deficit neutral and nothing would ever get done,” he said.

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