Nasdaq Tops 4,000 for First Time in 13 Years
Presumably not a glitch
The Nasdaq topped 4,000 Monday for the first time since September 2000, while the Dow and S&P 500 hit all-time highs once again.
Though it crossed a big milestone, the tech-heavy Nasdaq is still well below its peak of above 5,000, which was set in March 2000.
Stocks were mostly higher in afternoon trading despite a disappointing housing report. Pending home sales dropped 0.6% in October from the prior month. That was the fifth straight decline. Economists expected a 1.3% increase. The housing recovery has been a big boon for the stock market this year, so signs of weakness are worrisome.