Nasdaq sign (Photo : Reuters)
The Nasdaq Index is now just 40 points from its all-time record high of 5,048.62 at closing, set on Mar. 10, 2000. About 15 years after the dot-com boom, the Nasdaq has cracked the 5000 barrier at closing on Monday, continuing a bull market lasting six years.
On Monday the Dow Jones Industrial Average also hit a record-high of 18,288.63, according to Nasdaq. This was due to a widespread rise in U.S. equities.
Business profits have grown from expectations about profits 15 years ago. While some Internet-related stocks of the time were not profitable, others such as Amazon have become quite successful.
The Nasdaq index climbed 44.57 points on Monday, to 5,008.10. For the year it is up 5.7 percent, making it the top performer among all major stock indexes in the U.S.
When inflation is factored in, the Nasdaq index is still a country mile from its record during the dot-com bubble. However, it is nonetheless impressive that the stocks have been constantly rising since 2011.
What are the differences between 2015 and 2000? Today, technology and health care stocks have been driving the rise of Nasdaq. However, in 2000 the index was more tech-heavy, making up almost two-thirds of the index.
Next, the U.S. economy is now gradually recovering from the Great Recession, and is expected to have a three percent expansion this year, according to ABC News. In 2000 the U.S. economy was booming, with high growth rates and low unemployment rates.
Today's companies with the biggest market value include Apple, Microsoft, and Google, respectively. However, in 2000 the top companies were Microsoft, Intel, and Oracle, in that order.
Finally, on a lighter note today Beyoncé is one of the biggest stars in the music universe. Yet in 2000 she was launching her professional music career as a member of the girl group Destiny's Child.
