The Nasdaq has closed at more new all-time highs in 2017 than in any other year in history—as Ryan Detrick, Senior Market Strategist, discussed with Brian Sullivan on CNBC Trading Nation earlier this week. Although that’s big news, the Nasdaq isn’t the only index posting a significant number of new highs this year. In fact, 27 different days this year saw the S&P 500 Index, Dow, and Nasdaq all close at a new high on the same day to mark yet another record for stocks; the previous record of 25 days was set in 1995.
A different way to look at the strength we’ve seen in the big three indexes is by showing how many new highs they’ve posted this year in aggregate, and how that compares to prior years. The data show there have been a combined total of 177 new highs, which ranks second to the record of 195—which was also set in 1995. With 34 trading sessions left in the year, there’s a chance this record too could fall.
As Detrick says, “There are many ways to measure a bull market, but in the end, the number of new highs made is probably one of the surest. This yet again hammers home how strong the action has been in 2017.”
Past performance is no guarantee of future results. All indexes are unmanaged and cannot be invested into directly. The opinions voiced in this material are for general information only and are not intended to provide or be construed as providing specific investment advice or recommendations for any individual security.
The economic forecasts set forth in the presentation may not develop as predicted.
Investing in stock includes numerous specific risks including: the fluctuation of dividend, loss of principal, and potential illiquidity of the investment in a falling market.
The Dow Jones Industrial Average is the most widely used indicator of the overall condition of the stock market, a price-weighted average of 30 actively traded blue chip stocks, primarily industrials. The 30 stocks are chosen by the editors of the Wall Street Journal. The Dow is computed using a price-weighted indexing system, rather than the more common market cap-weighted indexing system.
The NASDAQ-100 is composed of the 100 largest domestic and international non-financial securities listed on The Nasdaq Stock Market. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology, but does not contain securities of financial companies.
Stock investing involves risk including loss of principal.