Business
Nasdaq posts record close as tech stocks shine – Sydney Morning Herald
The Nasdaq has surged to a new record on Wall Street as tech shares roared higher.
In June, the Nasdaq became the first of the major Wall Street indexes to recoup its coronavirus-induced losses as several of its largest constituents, including Amazon.com and Netflix, benefited from curbs on social activity.
“Tech is the only trade,” said Jake Dollarhide, chief executive officer of Longbow Asset Management. “Things that were 10 years away on February 18 are here now: Distance learning, seeing your doctor via Zoom, ordering pharmaceuticals via the mail.”
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