So far, so good: No hangover- or Friday-induced letdown after yesterday’s 15-years-in-the-making-and-yet-pretty-muted celebration of yesterday’s Nasdaq milestone. Indeed, we’re on pace for a second record close in as many days. It’s all very S&P500. And, what’s more, we might actually be able to maintain it this time, according to some people.
“We like tech and health care because tech is still reasonably valued,” said Julian Emanuel, executive director of U.S. equity strategy at UBS. “But, much more importantly, tech and health care are where all the cash is….”
Trip Chowdry, managing director of equity research at Global Equities Research, thinks innovation is going to cause certain stocks to outperform and that will allow the index to set sustainable new highs. He says names like Apple, Facebook Inc., Tesla Motors Inc. and Amazon.com Inc. are already showing signs of innovation and should propel the composite going forward.
Will the Nasdaq Go On to Set Sustainable New Highs? [WSJ MoneyBeat blog]