The Dow is down almost 200 points Thursday morning, and the Nasdaq Composite is off more than 1%. So investors are doing the logical thing: they are buying more Google (NASDAQ:GOOG) and Microsoft (NASDAQ:MSFT), both of which have continued their recent runs into record territory.
Google Thursday morning is up once again, to yet another new record. Having blown past the $700 level less than 3 weeks after crossing $600, the stock Thursday has added another $5.87, or 0.8%, at $712.87. That, of course, is a record high.
Microsoft, meanwhile, is up another 53 cents, or 1.4%, to $37.34. The shares are up 17% in the last five trading days. The stock hasn’t traded this high since July 2000.
Since the end of September - a period in which the S&P 500 is basically flat - Google shares have gained 25.6%, while Microsoft is up 26.4%. Microsoft now has a market cap of $350 billion; Google stands at $222 billion.
MSFT vs. GOOG 1-YR Chart: