Nasdaq Closes Above 4,000 Points For 1st Time Since 2000

Not Seen Since 2000!

By Luke Swiderski

NEW YORK (Reuters) - The Nasdaq composite index closed above 4,000 on Tuesday for the first time since 2000, while the Dow and S&P ended barely changed.

Retailers and homebuilders were among the best performing sectors, responding to stronger-than-expected earnings and robust housing market data.

Big-cap technology stocks helped the Nasdaq the most on Friday to finish above 4,000 for the first time since the dot-com bubble burst in 2000 and sent the tech-heavy index hurtling.

Tiffany & Co

"The wealth effect because the stock market has gone up has definitely helped the upper-end folks," said Gary Bradshaw at Hodges Capital Management in Dallas, Texas.

Moreover, Bradshaw said gasoline prices were giving a potential boost to broad-based holiday spending. Wal-Mart Stores Inc

Jos. A. Bank Clothiers Inc

On the Nasdaq, Apple Inc

The PHLX Housing Index

Permits for future U.S. home construction hit a 5-1/2 year high and an index of single-family home prices notched big gains in September.

"The takeaway here is that the whole partial government shutdown thing was a real non-event," said Jay Mueller, senior portfolio manager for Wells Capital Management.

The Dow Jones industrial average

The S&P 500 has risen nearly 27 percent this year, primarily bolstered by expectations the Federal Reserve's stimulus will continue at least until the end of the year.

The Walt Disney Company

Trading is expected to remain light this week, with financial markets closed Thursday for the Thanksgiving holiday. Markets will also close early at 1 p.m. (1800 GMT) on Friday.

(Editing by Kenneth Barry)

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