The Nasdaq extended its record-setting run to a second day, boosted by strong earnings from Google. The Nazzy launched to more record highs on Friday. Google had a 16% pop off great earnings and that helped lift things in a big way.
The Nasdaq Internet Index, which tracks large U.S.-listed, Internet-focused companies, rose 7.1% this past week, marking its best week since 2011. Netflix ended up 18% for the week after releasing better-than-expected results Wednesday.
Despite these recent moves, U.S. stocks broadly have failed to make big gains so far this year. The Dow is up just 1.5% year to date, while the S&P 500 has gained 3.3%. This I think is mainly attributed to a slowdown in earnings. The bar is low though.
We continue to outperform the market here at the site. This week’s winners included:
CELG +14%
DPLO +24%
CHRS +31%
KITE +9.6
TNA +7.0%
UPRO +6.9%
NVAX +11.5%
FOLD +12.1%
ALKS +6.5%
PRTS +11.5%
FIT +9.0%
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