On a peak earnings week that featured the stress test on the nation's biggest banks, credit cards, and news on the autos, the NASDAQ and technology stocks extend their rally to 7 weeks. Take over news of Sun Microsystems (JAVA), up 37.52% for the week, and strong earnings by eBay (EBAY) and Microsoft (MSFT), added momentum to the tech sector. The Dow closed above 8,000 on Friday, rising to a 5-day high.
- The NASDAQ has gained 30.95% in the past 7 weeks
- The last time the NASDAQ experienced 7-straight weeks of gains was December 2005
- In percent terms, it is the biggest 7-week percent gain for the NASDAQ since July 2000, when the index rose 32.48%
- Only 25 companies in the NASDAQ 100 are negative year-to-date
- Since the March 9th lows, the NASDAQ is up 33.55%, while the S&P 500 has advanced 28.04%, followed by the Dow with a gain of 23.36%