The Nasdaq Composite Index was up more than 3% on Monday afternoon, putting the tech-laden index within striking distance of exiting a correction area and producing it back at the sept. 8. A recent peak decline of at least 10% from an asset is a commonly used definition on Wall Street for a correction, while a fall is followed by a new high, often referred to as that asset. Is seen in the exit of the recessionary phase of the business. Nasdaq Composite Comp,
After putting in its most recent record at the beginning of last month, which is close to a new record peak of 2 – 12,056.44 at the beginning of last month, putting the benchmark close to 0.8%, according to FACTS data. Used to be. . Nasdaq has been driven higher by a handful of shares in its resurgence with Facebook March Inc. FB and Monday’s trading was no different.
Apple Inc AAPL,
Amazon.Com [: AMZN], Netflix nflx,
And Google Original Alphabet Inc. GOOG,
All days are growing fast. The stock detachment is informally known as FAANG (and sometimes including Microsoft Cor. MSFT).
A handful of those companies have helped lift the broader market by market value. The Nasdaq Composite was recently trading up 3.2% at 11,955 after a sharp jump on the index on Friday. The broad market was also gaining momentum with the Dow Jones Industrial Average. [: DJIA] SPX, rising 1.1% and S&P 500 Index
Climb 2% to 3,547. The S&P 500 had threatened to decline further from its recent September peak with a drop of 3,222.76, but managed to avoid close at that level.