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Tuesday's close. Screenshot via CNBC

The tech-driven Nasdaq 100, amid a raging recession and plunge in profits, is on the brink of doubling in 20 months, Bloomberg points out.

Why it matters: It's a vivid sign of how disconnected the markets are from America's economic reality.

  • The index set another record yesterday, led by gains in media and software stocks.
  • Facebook, Amazon, Microsoft, Apple and Alphabet each rose to an all-time high. Netflix had its best day in three years.

Worth noting: Jeff Bezos became the first human worth $200 billion, according to the Bloomberg Billionaires Index.

  • Elon Musk became a "centibillionaire," Bloomberg writes, as Tesla gains propelled his net worth to $101 billion.

Go deeper

SoftBank signals turnaround, reports third-quarter profit

Photo Illustration: Eniola Odetunde. Photo via Yoshikazu Tsuno/Getty Images

Japan's SoftBank Group on Monday reported $6.1 billion in third-quarter profit, with chairman Masayoshi Son telling analysts that "regardless of interest rates or regardless of who the president is, we want to continue to invest in the American market, and also in China."

Why it matters: This was a strong rebound for SoftBank, which had been bleeding red ink.

Hans Nichols, author of Sneak Peek
7 mins ago - Politics & Policy

Congressional Hispanics want Lujan Grisham at HHS

Michelle Lujan Grisham arriving on Capitol Hill. Photo: Tom Williams/CQ Roll Call

Hispanic lawmakers are openly lobbying to have New Mexico Governor Michelle Lujan Grisham be named Health and Human Services secretary, according to a letter obtained by Axios.

Why it matters: These members are now following the example some Black lawmakers have used for weeks: trying to convince Joe Biden his political interests will be served by rewarding certain demographic groups with Cabinet picks.

3 hours ago - World

Map: A look at world population density in 3D

This fascinating map is made by Alasdair Rae of Sheffield, England, a former professor of urban studies who is the founder of Automatic Knowledge. It shows world population density in 3D.

Details: "No land is shown on the map, only the locations where people actually live. ... The higher the spike, the more people live in an area. Where there are no spikes, there are no people (e.g. you can clearly identify ... the Sahara Desert)."