The Nasdaq is on track to do something it’s never done before

The Nasdaq composite is on track to make history this week should its monthly gain hold through Friday’s close.

If the tech-heavy index finishes December up, it will have posted gains in 11 of 12 months this year, an unprecedented feat for one of the country’s most-followed stock metrics. The index is up 0.95 percent for December, as of Wednesday’s close.

The Nasdaq’s rally this year is riding on the back of a surge in major technology stocks, which are some of the largest in the U.S. stock market. The Technology Select Sector ETF (XLK) has gained more than 30 percent this year to all-time highs in December.

Well-known tech-focused stocks Apple, Amazon and Facebook have outperformed, notching all-time highs in the last few months with gains of 47 percent, 57 percent and 54 percent, respectively.

Other tech-related companies like Activision Blizzard, Micron and Tesla have given investors a run for their money as gaming, chipmakers and battery-powered-car manufacturers made headlines as high-growth areas.

The other major U.S. stock indexes are on pace for historic monthly runs, although less impressive than the Nasdaq’s.

The Dow Jones industrial average – which has risen more than 500 points in December – is also on track to close higher in 11 of 12 months this year. The benchmark has only done that once before, in 1958.

The Dow has added 5,000 points and counting this year in its biggest annual-points gain in history.

The S&P 500 is also on track to close up in 11 of 12 months this year, though the index accomplished that twice before in 2006 and 1958.

None of the major averages have ever been up every single month in a calendar year.

Source: cnbc.com by Thomas Franck and Robert Hum | Original Link

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