Nasdaq Hits 13-Year High

For the first time since September 7, 2000, the Nasdaq surpassed 4000 before closing Tuesday. The 13-year high came along with good news for housing and bad news for consumer confidence, which reached its lowest level since April. Even better news came from the real estate market, where building permits reached a five-year high. “This year’s rally has been very broad-based,” Chris Verrone, an analyst at Strategas Research Partners, observed in a note to clients.