Pinterest, Zoom Video extend U.S. IPOs' show of strength

Surges in Pinterest Inc. and Zoom Video Communications Inc. last week on their first day of trading reinforced this year’s strength in shares of newly public companies. The Renaissance IPO Index, which consists of initial public offerings within the past two years, posted a year-to-date gain of 29 percent through Friday. The S&P 500 only rose 16 percent during the same period. This year’s performance amounts to a reversal for IPOs. Their index trailed the S&P 500 in four of the past five years, according to data compiled by Bloomberg.