NASDAQ CROSSES 6000 AND WALL STREET DOESN’T SEEM TO CARE

This week – NASDAQ crossed 6000 and investors greeted the move with a yawn.  The index which is laden with tech names turned the industrial and bank Trump rally on its head by closing at new record highs just yesterday. Technology stocks which are not direct beneficiaries of Trump’s heavy industry protectionism have found a way to prosper. AMZN ($909.29), GOOG ($871.73) and CSCO ($33.40) have been big beneficiaries of this powerful move higher. The only thing that could derail this tech love in would be a rate hike and that doesn’t seem to the case. Trump is in love with a lower dollar to help the steels and other industries so look for more upside on some of these NASDAQ heavyweights.

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