The Nasdaq, home to many of the biggest tech companies in America, hit the 6,000 mark for the first time ever on Tuesday.
The milestone comes more than 17 years after the Nasdaq first topped 5,000 — way back in March 2000. Tech stocks plunged after the dot-com bubble burst then, and once again during the Great Recession of 2008.
It took until 2015 for the Nasdaq to reach 5,000 again.
Sure, not much has changed now that the Nasdaq is at 6,000 as opposed to, say, 5,970. But, it’s a milestone, nevertheless. Hence, the big hoopla earlier this year when the Dow topped 20,000 — and 21,000 — for the first time.
Earnings growth may be the best since late 2011
Strong sales and profits from the likes of Apple (AAPL, Tech30), Google owner Alphabet (GOOGL, Tech30), Microsoft (MSFT, Tech30) and Facebook (FB, Tech30) — which are all listed on the Nasdaq — are a big reason behind the index’s surge during the past few years.