Investors Get Greedy as Nasdaq 100 Hits a Record
- Apple, Qualcomm deliver final push past August all-time high
- Options show elevated expectation for more gains on earnings
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The leaders of the decade-long bull run in U.S. equities are back at an all-time high.
The Nasdaq 100 closed at a record of 7,680.72 on Wednesday, surpassing its August 2018 peak and extending its year-to-date gain past 21 percent. The last thrust was paced by just two stocks. Strip out Apple Inc. and Qualcomm Inc., which agreed on a settlement to resolve litigation, and almost all of the 0.3 percent gain would vanish. The equal-weight version of the Nasdaq 100 closed lower, indicating poor breadth.