Wall Street's major averages were lower on Friday, a day after both the S&P 500 and Dow closed at record highs, fueled by hopes of a soft landing. Early on and the Nasdaq Composite (COMP:IND) was -0.1 ...
The S&P 500 ( ^GSPC) climbed roughly 1.7%, while the Dow rose more than 1.2%, with both indexes trading at record highs. The tech-heavy Nasdaq Composite ( ^IXIC) led the gains, up roughly 2.5%.
So if the earnings growth rate of Nasdaq stocks slows due to a downturn in the business cycle or any number of unforeseen factors, the Nasdaq could continue underperforming the S&P 500 because it is ...