The Nasdaq Composite recorded its fourth consecutive day of 1%-plus gains on Tuesday, marking only the 18th time in its history this has occurred, according to Bespoke Investment Group. The Dow Jones and S&P 500 reached all-time highs driven by declining oil prices and strong earnings from Caterpillar and Palantir. The Nasdaq is sitting just 2% below its record close of 27,093.90 set on June 2. Historically, following such streaks, the index has averaged a 1.6% gain one week later, 4.1% one month later and 29% one year later. Bespoke noted this streak stands out as it is happening with the index already near its highs, unlike most prior occurrences, and will watch the 26,000 level for support.
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