eBay, Airline Stocks Lead Nasdaq 100 to New Intraday Record
The stock market's recovery from the bear market in late February and March has been extraordinary, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has seen especially impressive gains. The Nasdaq 100 index of top Nasdaq stocks actually briefly moved into all-time record territory Thursday morning -- an enthusiastic response to prospects for a successful economic reopening. However, the market couldn't hold onto those gains, and the Nasdaq Composite finished the day down around 0.7%.
Even with the pullback, a couple of Nasdaq 100 stocks were especially strong. eBay (NASDAQ: EBAY) offered investors a positive reading on its e-commerce business, while airlines like United Airlines Holdings (NASDAQ: UAL) continued to move higher on hopes that they'll be able to find ways to be profitable and build a sustainable, long-term business model in a post-coronavirus world.
Shares of eBay rose 6% on Thursday following the online marketplace's latest read on its second-quarter financial results. The company has seen stronger sales volume than it initially expected, and that has shareholders excited about what eBay is accomplishing even in the middle of the coronavirus pandemic.
Source Fool.com
