Tech stock gains this big imply a strong 2019 stock market finish

on Oct11
by | Comments Off on Tech stock gains this big imply a strong 2019 stock market finish |

Despite recent market volatility, stocks have still performed well this year. The Nasdaq Composite was the top performer of the three major indices. Over the first three quarters of 2019, the tech stock-heavy U.S. stock market benchmark jumped over 20%. That’s been a bullish indicator for the market most of the times it has happened in previous years back to 1990.

The market cap-weighted Nasdaq index got a boost from the likes of Apple, Microsoft and Facebook. They each logged gains of over 35% in that period. Since 1990, the Nasdaq Composite has jumped at least 20% in the first nine months of the year on seven other occasions, and according to data by hedge fund analytics tool Kensho, these outsized gains point to a strong end to the year.

The Nasdaq tends to add another 10% in the final quarter of the year, trading positively 86% of the time. The Dow Jones Industrial Average and S&P 500 Index also perform well, each up another 8%. While the S&P 500 return is slightly below the Nasdaq’s, it has a perfect record of positive returns over those past seven instances.

Previous postMany Americans are still struggling from the Great Recession Next postPhotos: Saddleridge Fire Burns North of Los Angeles

Los Angeles Financial times

Copyright © 2021 Los Angeles Financial times

Updates via RSS
or Email