Nasdaq new high but up just 0.2% from 2000 peak

June 21 08:07 2015

The Nasdaq composite made history yesterday, topping its old intraday record high from March 2000. Markets cheered the news. But the sad truth is the Nasdaq is simply back to where it was 15 years ago. nasdaq-stock-market

The math is pretty simple. The Nasdaq notched both a new closing high yesterday (5132.95) and a record intraday peak of 5143.32, which eclipsed the prior intraday record of 5132.62 that dates back to March 10, 2000. Yesterday’s record during the trading session means the tech stock-packed index is 0.21% higher than it was more than 15 years ago.

The bottom line: While the Nasdaq has erased a loss of nearly 80% from its 2002 bear market low, it is just back to where it was in the spring of 2000. Today, the tech and biotech-driven index was back in the red. At 2:55 p.m. ET, the Nasdaq was off 17 points, or 0.3%, to 5115.38.

Nasdaq from its inception in the early 1970s through 11:05 a.m. ET today. Note the period between the peak in 2000 until yesterday’s new records. You’ll see that the Nasdaq is simply back to even.