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Nasdaq Closes at Highest Level Ever

Published by: Mike Goldman on 27th May 2015 | View all blogs by Mike Goldman

Nasdaq Closes at Highest Level Ever

US stocks bounced back Wednesday, after a selloff the precious day, with the Nasdaq setting a new all-time closing mark. Just a day after slipping 1.1 percent, the tech-heavy index rose 1.5 percent on Wednesday to close at a record-setting 5,107, just 14 points ahead of the index's previous high close. Broadcom fueled the index's overall gain when its shares surged 22.5 percent after a report that the microchip maker was in talks to be acquired by rival Avago Technologies. Apple (up 2.44 percent) and Frontier Communications Corp (+7.3%) were also strong performers on the Nasdaq. The Dow Jones industrial average also closed higher, gaining 121 points to close at 18,163. The Dow's gains were fueled by an 18 percent surge in shares of United Health Technologies and a 17 percent jump in shares of Disney.

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