This just in: The Russell 1000 Growth Index just hit an all-time high of 925.98. Now this isn’t just another all-time high, the way we’ve been getting them in the S&P 500 and the Dow Jones Industrial Average, which have hit multiple highs this year. This is a big deal.
Getty Images The reason: The previous high in the Russell 1000 Growth Index was back in March 2000–right at the peak of the dot-com bubble. That means it’s taken nearly 14-and-a-half years for the index to finally scale those heights.
The Russell 1000 growth index is chock full of big tech companies like Apple (AAPL), Microsoft (MSFT), Verizon Communications (VZ) and Google (GOOG).The big difference now is that these types of stocks actually make oodles of money and trade at (more) reasonable valuations.
Those stocks are also big components in the Nasdaq 100 and Nasdaq Composite indexes–just about the only major U.S. indexes that have yet to hit their all-time highs.
They’re not that far away, however. The Nasdaq Composite is up 0.4% at 4526.58 at 2:39 p.m. today, leaving it just 13% away from its record high of 5,132.52 hit in March 2000. The Nasdaq 100, meanwhile has gained 0.5% to 4,038.45 today, leaving it just 19% below its record of 4,816.35.
Who thinks they’ll get there before this bull run is over?
Shares of Apple have gained 1.4% to $100.51 today, while Google has risen 0.8% to $586.85, Microsoft has advanced 0.6% to $45.09 and Verizon has dropped 0.3% to $48.62.
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