Global stocks hit a new record high

(Image credit: Spencer Platt/Getty Images)

published 24 April 2015

On Thursday, the Nasdaq Composite Index hit a new high, 5056.06, breaking a record set 15 years ago, on March 10, 2000. Soon after reaching that peak, the tech-heavy stock index deflated 78 percent alongside the dot-com bubble. (The Wall Street Journal has a nifty interactive feature to relive the Nasdaq roller coaster, literally.)

But the Nasdaq isn't the only bourse where happy days are here again. On Friday, the MSCI All-Country World index also hit a record high, 441.1 points, buoyed by positive corporate earnings in Europe, optimism that Greece won't default on its debt after all, and rising oil prices. At least when it comes to the Nasdaq, financial analysts say this new peak is different from the last, since the companies on the exchange are profitable and more established now. So, if you're skeptical of Wall Street analysts, you might start looking for alternate investments.

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Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.