With the end of the decade quickly approaching, one of the U.S. stock markets major indexes hit an all-time high the day after Christmas.
CNBC marked the milestone of the NASDAQ hitting 9,000 on Squawk Alley Thursday morning, thought the index fell a few points below immediately after hitting the mark as markets continued trading.
“We want to mention that NASDAQ has hit 9,000 for the first time ever, comes after hitting 8,000 in August of 2018 and, of course, now the countdown can continue to NASDAQ 10K,” Carl Quintanilla noted.
“So many of those companies, though, that have really transformed are in California,” co-anchor Julia Boorstin noted, asking correspondent Jane Wells “will we see more tech startups and more tech companies leaving California or will we still see the young people who want to work in Hollywood or want to work in tech feel like California is the place they have to be?”
Wells noted VC funding will likely remain in California, and that it would be difficult to transplant the communities that make up the tech-heavy NASDAQ to other parts of the country.
“The real question that you get at is: are you going to re-create Silicon Valley in Columbus, Ohio? I don’t want to sound like we’re so great in California – but that is a lot harder to do than it sounds like,” Wells said.
Watch above, via CNBC.
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