BIGC - Facebook Starbucks Lift Nasdaq to 4th Straight Record High
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been the leader in 2020, easily leaving the Dow Jones Industrials in the dust. Even though the Dow grabbed headlines Tuesday with some big changes to its 30 constituent stocks, it once again dramatically underperformed both the Composite and the Nasdaq 100 Index. Today's gains were enough to send the Composite to its fourth record high in a row.
After finding out about the switches within the Dow, many investors believe that Facebook (NASDAQ: FB) got unfairly left out. That might be true, but it didn't stop shareholders from bidding up the stock price anyway. Meanwhile, Starbucks (NASDAQ: SBUX) also got a vote of confidence that helped its stock break out of a long rut and move higher.
Shares of Facebook were higher by 4% on Tuesday. The social media giant took a big step forward in seeking to take advantage of growing demand for e-commerce by releasing new tools that could help promote more shopping activity in its ecosystem.