- The Nasdaq composite index surpassed 9,000 points for the first time ever on Thursday largely due to Amazon’s 4% stock price
The Nasdaq composite index surpassed 9,000 points for the first time ever on Thursday largely due to Amazon’s 4% stock price jump. Amazon’s stock increased after revealing it had the best holiday season on record.
The Nasdaq is an index and a stock exchange that rivals the New York Stock Exchange. And it reflects the performance of around 3,000 stocks, which are mostly tech-focused.
Amazon said that billions of items were purchased between Thanksgiving to Christmas. And tens of millions of Amazon devices were sold worldwide. Plus Amazon said that over 5 million new customers started to use Prime.
This is the longest winning streak for the Nasdaq composite since July 2013. In 2019, the Nasdaq gained about 36% and this makes it the best year for the index since 2013.
The Dow also closed up 0.4% (106 points) and the S&P climbed 0.5%. These indexes also closed at record highs. The European exchanges were closed for Boxing Day.
US oil prices also climbed to a three-month high as prices rose to $61.83 per barrel. This has not happened since September.
Trading volumes fall tend to be lower this week due to the holiday season in the US.
