Nasdaq crosses 10,000 | Retail investors score | Why are stocks of bankrupt companies rising?
EDITOR'S NOTE
The Nasdaq Composite crossed the 10,000 mark for the first time on Tuesday, driven by the big tech winners of the coronavirus downturn: Facebook, Apple, Amazon, Netflix and Google parent Alphabet.
The Dow Jones Industrial Average and the S&P 500 dipped slightly as airline, cruise line and retail stocks gave back some of their gains from Monday's session. The Nasdaq also pulled back slightly after reaching its latest milestone in intraday trading.
The economy may take years to return to full employment, but it's been a V-shaped recovery for stocks.  "Equities continue to trend higher in anticipation of improving economic conditions," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "But I think it's premature to declare happy days are here again."
Indeed, the market's enthusiasm has been difficult for many professional investors to believe. But it hasn't been hard for the mostly youthful investors taking advantage of free trades on Robinhood, writes CNBC's Maggie Fitzgerald.
Robinhood's largely millennial customer base piled into stay-at-home stocks and those most beaten down by the economic shutdown, like airlines, casinos and hotels, which have all enjoyed sharp gains.
"There's nothing like momentum begetting momentum," said Tim Welsh, founder and CEO of wealth management consulting firm Nexus Strategy. "Access is really driving a lot of this and the whole upward tick in the markets, again, just fuels demand."
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