Red-Hot Nasdaq 100 Is Threatening to Double Inside of Two Years
- Tech-heavy benchmark has gained 89% since the end of 2018
- Software, media stocks lead the index to a 5th day of gains
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Last year, when the economy and earnings were booming, the Nasdaq 100 Index put together its best rally in a decade, rising 38%. In 2020, amid a raging recession and plunge in profits, it’s doing a little less well. It’s up 37%.
Which is to say the tech-heavy gauge is on the brink of doubling in 20 months, its most powerful run this century. The gains enlarged on Wednesday, with the index climbing 2.1% -- the second jump of at least that much during a streak in which it has risen in nine of 11 sessions.