Tesla, Tech Send Nasdaq Stocks Skyrocketing
The bull market in stocks since March's lows has been extremely resilient, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) in particular has found ways to bounce back from temporary setbacks. That was definitely the case on Wednesday, as Nasdaq indexes soared following a couple of days of severe underperformance. By 3:30 p.m. EDT, the Nasdaq-100 Index and the Composite were both up between 2% and 3%. That largely brought to an end the suggestion that the market was going through a longer-term sector rotation away from tech.
Tech stocks were big contributors to the Nasdaq's gains, especially in the semiconductor arena. However, Tesla (NASDAQ: TSLA) was the big winner as it made yet another unexpected move that investors found encouraging.
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Source Fool.com
