BREAKING: Nasdaq Composite crosses 10,000 for the first time ever

[tacobell fan]

[tacobell fan]

The Nasdaq Composite rallied to a record high on Tuesday, briefly breaking above 10,000 for the first time, as traders loaded up on major technology names while taking profits from stocks that benefit from the economy reopening.

The tech-heavy Nasdaq rose more than 0.4%. Amazon and Apple gained 2.9% and 3.8%, respectively, to hit all-time highs. Facebook traded 2.9% higher and Netflix rose 2.4%. Google-parent Alphabet was up 0.6%.

 

Meanwhile, the 30-stock Dow Jones Industrial Average slid 257 points, or 0.9%, and was on pace to snap a six-session winning streak. The S&P 500 dropped 0.7%.

United Airlines and Delta Air Lines each dropped more than 6%. Cruise lines Carnival and Royal Caribbean both declined more than 5.7%. Retail-related trades Gap and Simon Property Group dropped as well. 

“Today’s all about giving back some of the sharp gains we’ve seen in those value names,” said Keith Buchanan, portfolio manager at GLOBALT. Buchanan several factors — including last week’s record-setting jobs report — are signaling a much quicker-than-expected turnaround following and have boosted beaten-down stocks such as airlines and cruise lines. “The upcoming economic data is going to be even more important. To confirm that payrolls number is critical.”

[Hitman]

ee pumping emaina unda market...

[Pitta]