Nasdaq closes above 5,000, nears 15-year peak
In this March 9, 2000 file photo, Charles Molineaux delivers a live broadcast from the Nasdaq MarketSite, showing that the Nasdaq composite index soared to its first close above 5,000, in New York. After fifteen long years, the Nasdaq is close to topping its all-time high of 5,048.62, set on March 10, 2000. AP
NEW YORK, United States — The Nasdaq composite index closed above 5,000 Monday for the first time since the dot-com bubble peaked 15 years ago.
Electronic screens reflect the value of the Nasdaq Composite, top, and the share price for Yahoo and Apple at the Nasdaq MarketSite, Monday, March 2, 2015 in New York. After fifteen long years, the Nasdaq is close to topping its record from the dot-com frenzy. AP
The index, which is heavily focused on technology companies, gained 44 points, or 0.9 percent, to 5,008 Monday.
It was only the third time the index has closed above 5,000 in its 44-year history. The other two were March 10, 2000, when it closed at a record high of 5,048, and the day before.
A lot has changed since the dot-com era, when Internet IPOs and other tech companies soared in value, only to collapse later. The Nasdaq fell to 1,114 in October 2002.
The Dow Jones industrial average rose 155, or 0.9 percent, to 18,288. The Standard & Poor’s 500 index rose 12 points, or 0.6 percent, to 2,117.
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Key milestones:
— Feb. 8, 1971: Nasdaq index is created and set at 100 by the National Association of Securities Dealers, an industry self-regulatory group.
— July 17, 1995: Closes above 1,000 for the first time.
— Nov. 3, 1999: Closes above 3,000 for the first time.
— March 9, 2000: Closes above 5,000 for the first time.
— March 10, 2000: Closes at a record high of 5,048. Dot-com bubble begins to collapse.
— Oct. 9, 2002. Closes at 1,114, its lowest since the dot-com crash.
— Nov. 26, 2013: Regains 4,000 level for first time since crash.
— March 2, 2015: Closes above 5,000 for first time since March 2000.
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In this Oct. 25, 2001 file photo, Microsoft chairman Bill Gates stands in New York’s Times Square to promote the new Windows XP operating system. When the Nasdaq reached its record in 2000, Microsoft was its biggest company in the index, with Cisco, Intel, Oracle and Sun Microsystems completing the top five. AP
15 years in the making
It’s taken 15 years for the Nasdaq composite index to approach the record high of 5,048 it reached back in March 2000, at the height of the tech-stock boom that would later collapse. On Monday the index closed above 5,000 points for the first time since hitting its peak. Here are some things that have changed since then, in the index and in the U.S.
Biggest company in the index
2000: Microsoft ($525 billion)
2015: Apple ($759 billion)
Biggest industries in index
2000: Technology, 64.9 percent; Telecommunications, 11.8 percent; consumer services, 7.7 percent.
2015: Technology, 43.3 percent; Consumer services, 20.8 percent; Health Care, 16.1 percent.
Number of tech stocks in the Nasdaq:
2000: 1,207
2015: 445
In the news
2000: Y2K bug, controversy over Cuban immigrant boy Elian Gonzalez, U.S. Presidential election between George W. Bush and Al Gore. “American Beauty” wins Oscar for Best Picture.
2015: Killings of French cartoonists over depiction of prophet Muhammad; U.S. moves to normalize relations with Cuba; identity of Islamic State militant shown beheading hostages is revealed. “Birdman” wins Oscar for Best Picture.
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Electronic screens reflect the value of the Dow Jones Industrial Average, top, the Nasdaq Composite, center, and the S&P 500 at the Nasdaq MarketSite, Monday, March 2, 2015 in New York. AP
How other markets fared:
On Monday:
The Dow Jones industrial average rose 155.93 points, or 0.9 percent, to 18,288.63.
The Standard & Poor’s 500 index rose 12.89 points, or 0.6 percent, to 2,117.39.
The Nasdaq composite increased 44.57 points, or 0.9 percent, to 5,008.10.
For the year:
The Dow is up 465.56 points, or 2.6 percent.
The S&P 500 index is up 58.49 points, or 2.8 percent.
The Nasdaq is up 272.04 points, or 5.7 percent.
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