The NASDAQ Composite Index has experienced a remarkable uptrend over the past week, reaching a milestone with a record single-day surge of 211.51 points this past Friday. This impressive feat marks the most substantial two-week rally since September 2023. Closing at an impressive 13,431.34 points, the index has now reclaimed levels not seen since September of the previous year.
In the span of just eight trading days, the index has witnessed gains on six separate occasions, contributing to an overall increase of more than 31% from its lowest point in the preceding year. Despite this impressive momentum, it is important to note that the index remains approximately 16.35% below its all-time high, which was achieved on November 19, 2021.
Comparing the index’s current performance to its state on Election Day, November 3, 2020, reveals a substantial growth of 20.35% over this period. Remarkably, the current market value stands at a mere 0.19% deviation from its value on Inauguration Day.
Measured against its position one year ago, the index has surged by over 26%, reflecting a year-on-year increase of 26.09%. Furthermore, it has rebounded by more than 30% from its lowest closing point in 2023, although it still lags behind its highest closing point within the same year by approximately 6.45%.
While the NASDAQ Composite Index remains around 16% below its record high in November 2021 and marginally below the Inauguration Day close, its recent performance underscores a resilient market characterized by robust rallies and substantial gains.
