The Nasdaq Composite Is Threatening To End One Bullish 2017 Win Streak

By Mark DeCambreMarketsMarketWatch Pulse

The Nasdaq on Thursday is on track to end in negative territory on back-to-back days for the first time in 2017. The tech-heavy index was under pressure, off 0.5% at 5,831 in late-afternoon trade, as shares of tech companies slumped, including Nvidia Corp. which threatened to see its biggest daily drop ever. The last time the Nasdaq Composite Index fell on successive sessions was the three-day period to end 2016, according to FactSet data. That's 36 days without a two days in a row in the red, which marks the longest such streak since Aug. 25, 2016, Dow Jones data show. So far, the Nasdaq has only declined 9 times this year and hasn't seen a 1% drop since Dec. 1, 2016, representing 56 trading days. The index's longest streak without a 1% tumble was 73 trading days from Jan. 4, 1995 to April 18, 1995, when it closed down 1.1% on the 74th. The downtrend for the Nasdaq comes as the S&P 500 index and the Dow Jones Industrial Average are trading slightly higher, with blue-chips set for 10 straight days of gains, its longest such streak in 30 years.

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