Nasdaq hits record high as U.S. recession becomes official

The Nasdaqwas up 0.8% in afternoon trade on Monday, and if it finishes at that level, it will have exceeded its previous record high close on Feb. 19, just before fears of the coronavirus ended its 11-year bull market.Wall Street for months has appeared to ignore grim economic readings as investors focus on trillions of dollars in government stimulus and bet that a recovery would be relatively quick.Underscoring that disconnect and confirming wide expectations, the private research group that ac