U.S. stocks rose on Thursday, with the Nasdaq index hitting a record closing high, as corporate earnings and a rise in energy shares overshadowed soft U.S. economic data, while oil prices climbed to the highest levels of the year.
The gains pushed the Nasdaq above a record set in March 2000, the height of the dot-com boom. The index is up 353 percent from its October 2002 low after the technology bubble burst.
"It has the potential to go up, absent some external event that I can't predict." said Walter Price, senior portfolio manager and managing director of the AllianzGI Global Technology fund in San Francisco. "Companies look as though they ought to power through this environment."
In 2000, "a lot of the high-growth companies were selling at 200 or 300 times next year's earnings," he added. "This is nothing like that. This is a whole different world versus 2000."
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No one could have predicted Obama would be able to do this.
wow\\\\
what a great President !
What a great man !
:0074
The gains pushed the Nasdaq above a record set in March 2000, the height of the dot-com boom. The index is up 353 percent from its October 2002 low after the technology bubble burst.
"It has the potential to go up, absent some external event that I can't predict." said Walter Price, senior portfolio manager and managing director of the AllianzGI Global Technology fund in San Francisco. "Companies look as though they ought to power through this environment."
In 2000, "a lot of the high-growth companies were selling at 200 or 300 times next year's earnings," he added. "This is nothing like that. This is a whole different world versus 2000."
.........................................................................................................
No one could have predicted Obama would be able to do this.
wow\\\\
what a great President !
What a great man !
:0074

