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FTSE / DOW

Putting Nasdaq 4,000 in perspective

CHAPEL HILL, N.C. (MarketWatch) — The stock market may very well be overvalued right now.

Indeed, with the Nasdaq Composite Index COMP +0.07% finally trading above the 4,000 level this week, the first time in 13 years, comparisons to the Internet bubble are perhaps unavoidable.

Nevertheless, a sober assessment of the data shows that the market today is well less overheated than it was in December 1999, the first time this index traded above 4,000. In other words, whatever else you say about what’s happened over the last 13 years, at least some of the overvaluation that prevailed at the top of the Internet bubble has been worked off.

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Morning All.

Midday Market Overview

USD Building Permits 0.97M 0.94M 0.93M

USD Building Permits 1.03M 0.94M 0.97M

USD S&P/CS Composite-20 HPI y/y 13.3% 13.0% 12.8%

USD HPI m/m 0.3% 0.5% 0.4%

USD Richmond Manufacturing Index 13 3 1

USD CB Consumer Confidence 70.4 72.2 71.2

End-of-day Market Overview