The NASDAQ composite index broke the 6,000 milestone for the first time ever in its 46-year history Tuesday morning.
The index traded at an intraday record Tuesday morning of 6,022, up nearly 40 percent.
The NASDAQ hasn’t soared this much since the dot.com bubble of the early 2000s. Strong earnings reports, a renewed sense of hope for corporate tax reform, easing geopolitical pressures and the Trump bump are all catalysts of the Tuesday’s run, MarketWatch reports.
While the NASDAQ’s performance Tuesday is undoubtedly impressive, the stock market overall has been on a tear since President Donald Trump defeated former Secretary of State Hillary Clinton.
The Dow Jones Industrial Average has experienced 2,000-point jumps and set records on a near weekly basis.
Following Election Day, the S&P 500 had the biggest one-month rally in the its 93 years of existence. The index rose nearly 5 percent from Nov. 9 to Friday, Dec. 9. It broke the previous 30-day record set after former President Richard Nixon’s election.