Nasdaq Climbs 158 Points on Zoom Growth Hopes, Microsoft's TikTok Talks

It's hard to believe in a coronavirus-plagued world, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) is up significantly for the year. Both it and the Nasdaq-100 index have defied the COVID-19 pandemic, instead showing that some companies can find strategies for growth even in the middle of the toughest business environment in generations.

The Nasdaq's gains in 2020 have come from several different corners, but the biggest influence has come from companies that are trying to meet new needs in the wake of the pandemic. Zoom Video Communications (NASDAQ: ZM) has become an essential service for millions of people, and its stock saw big gains Monday as investors continue to believe that it can grow from its new base. Meanwhile, Microsoft (NASDAQ: MSFT) made news as it engages in talks to acquire Chinese social media giant TikTok in a controversial yet potentially lucrative deal.

Image source: ByteDance.

Source Fool.com