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BREAKING: Nasdaq Composite hits new all-time high


tacobell fan

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The Nasdaq Composite became the first of the three major averages to climb back to a record high, advancing 2.3%. Earlier this year, the tech-heavy index was down more than 25%. It is now trading more than 9% higher for 2020.

 

The Dow Jones Industrial Average jumped 966 points, or 3.7%. The S&P 500 traded 2.9% higher.

Friday’s rally put the S&P 500 down just 0.8% for 2020. At one point this year, the broader market index was down 30.3%. The Dow was only down 4.5% year to date after being down as much as 34.6% in 2020.

“We’re back,” CNBC’s Jim Cramer said on “Squawk Box.” “I think there were a lot of people who felt that the layoffs would be permanent and it’s obvious that there’s so much demand that people have to bring people back.”

The Dow was up 6.9% week to date. The S&P 500 had gained 4.9% and the Nasdaq Composite was up 1.9%.

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