The Nasdaq Just Hit a New High for the First Time Since 2021. The Stock Market Usually Does This Next.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) is one of three major U.S. stock market indexes, alongside the S 500 and Dow Jones Industrial Average. The Nasdaq measures the performance of more than 3,000 companies that span all 11 market sectors. But the index is widely regarded as a benchmark for growth stocks because it's heavily weighted toward technology and consumer discretionary, the two best-performing sectors over the last two decades.
On Feb. 29, 2024, the Nasdaq reached a new high for the first time since Nov. 19, 2021. That means the index is officially in bull market territory. Historically, the beginning of a new bull market has portended sustained price appreciation across the stock market.
Here's what investors should know.
Source Fool.com
