Nasdaq surpasses Internet-bubble peak to set new record

Fortune

(Reuters) – The Nasdaq Composite, the U.S. market index most closely associated with technology stocks, closed at an all-time high on Thursday, surpassing a 2000 record set just before the dotcom crash.

Its record close of 5,056.06 capped a slow, unsteady climb from a 2002 low of 1,114.11 that spanned a recession, the rise of biotech and social media, and the explosive growth of mobile phones that has helped make Apple the most valuable company in the United States.

The Nasdaq jumped as high as 5,073.091 on Thursday, led by shares of Apple, which has been among the biggest positive influences on the index in recent years. The index’s last record close of 5,048.62 was hit on March 10, 2000.

The S&P 500 set an intraday high but closed shy of a new record.

Rapid growth in biotechnology companies such as Gilead and social media firms like Facebook, driven by…

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