Nasdaq closes above 6000 as Facebook and Netflix hit records

Nasdaq opens at record high as Wall Street rallies

Tech stocks have become a way to bet on USA economic growth while reducing reliance on anticipated US policy changes like tax cuts, deregulation and infrastructure spending, many investors and analysts say.

Class A shares of Facebook are up 28% in 2017, with analysts estimating the firm will report quarterly earnings of $1.12 a share in May, according to FactSet, supported by data pointing to sustained growth in its advertising revenue. However, the bubble burst and the Nasdaq did not return to the 5,000 mark again until March 2015.

The tech-heavy Nasdaq ended Tuesday with a 0.7 percent rise, up 42 points as part of a broad market rally that has pushed up stocks for the Dow Jones industrial average and the Standard & Poor's index as well.

The first quarter this year has featured good earnings news.

Valuations have backed off the levels they reached in 2000.

President Trump's promise to unveil a hefty corporate tax cut today and investor relief after the first round of the French elections at the weekend helped to push USA markets higher.

NSE index ended above the 9,300 level for the first time on Tuesday, helped by a string of strong quarterly results including from Reliance Industries Ltd and positive global cues.

Even though Trump-related market euphoria has cooled a bit over the past month owing to his political setbacks, the Nasdaq has shown the steadiest performance compared with the other indexes.

Following Election Day, the S&P 500 had the biggest one-month rally in the its 93 years of existence.

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