Business
Why the ASX 200 could be the Nasdaq of 2021
If you’ve grown tired of reading about new record highs on the Nasdaq Composite (NASDAQ: .IXIC) you may want to skip ahead a bit.
But don’t skip too far!
We’ll get back to the increasingly positive outlook for shares on the S&P/ASX 200 Index (ASX: XJO) shortly.
First, however, the tech-heavy Nasdaq gained 0.5% yesterday (overnight Aussie time). That means…wait for it…it closed at yet another new all-time high.
Year to date the Nasdaq is now up 41%. That’s despite the index crashing 30% from 19 February through to 23 March.
In case you’re wondering, following yesterday’s gains, it’s now up 85% from the 23 March low.
“Buy stocks”
The US Federal Reserve provided some of the tailwinds pushing the Nasdaq to new…
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