For the first time in about half a decade, the Nasdaq lags behind the traditional stock index, the Dow Jones, for the fourth week in a row • Bitcoin has crossed the $ 60,000 mark
The Wall Street Stock Exchange in New York
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Photo: GettyIMages
For the first time in about five months, the Technology Equities Index (NASDAQ) lags behind the traditional equities index, the Dow Jones (Manufacturing, Banking, Services Equity Index) - for the fourth week in a row.
The last time the Dow defeated the NASDAQ over a one-month period was in April-May 2016, and earlier in 2011. In both cases, President Obama sat in the White House, and now Joe Biden is serving as president. That is, the peak period for technology companies was in the presidency. Donald Trump - who was declared a war of attrition in Silicon Valley and his accounts on various social networks were deleted.
At the end of the trading week on Wall Street last Saturday night, the Nasdaq fell by 0.6%, after already being down by 1.6% during the day. Twitter shares lost about 0.5%, Facebook fell by 2%, Netflix by 1%, Alibaba by 3.7%, and Alphabet (Google's parent company) fell 2.4% on the last trading day. The Dow Jones has jumped more than 7% since the beginning of the year and broke a new record when it traded at 32,778 points. The Nasdaq has risen since January 1 in - 3.4%.
This week, Tesla shares jumped 16%, after jumping 30% in the same period last month.
Over the past weekend, U.S. citizens began receiving $ 1,400 in grants from the government. Carl Robb, a former adviser to President Bush Jr., warns that Biden's "aid program" will cost Americans about $ 3 trillion in the next decade - $ 700 billion. Of that, by 2031, only 8.5 percent of the program will be designed to help Americans directly emerge from the Corona crisis, and $ 350 billion of the program is devoted to bailout countries, not necessarily because of the Corona.
Another record for Bitcoin
Meanwhile, fears of a spike in inflation are helping Bitcoin, which crossed the $ 60,000 per unit for the first time last weekend - a jump of about 7 percent a day and more than 26 percent a week, with a total trading volume of more than $ 1.1 trillion.
Only about three months ago, Bitcoin struggled to break the record from 2017, and found it difficult to cross the $ 20,000 threshold per unit.
About a year ago, it was possible to buy one bitcoin for about $ 5,300 - and now enjoy a jump of more than 11 times the value of the currency.
Etherium, the second largest digital currency on the market today, enjoys elevations similar to those of Bitcoin and trades at about $ 1,900 per unit.
Lightcoin stands at $ 227 - a jump of 25% per week, and the controversial Monroe climbed 16.5% and traded at $ 234.
EOS, the young competitor of Etherium, has climbed about 8% in the last week and now stands at four dollars per unit - far from its peak ($ 22.89), which was achieved about three years ago, in April 2018.
