Nasdaq surges above 20,000 for first time

The Nasdaq crossed 20,000, a historic first. Tech stocks soared on AI hopes and rate cut expectations. The index jumped 33% this year. Apple, Nvidia, and Tesla led the rally. This followed a US inflation report. The report hinted at a Federal Reserve rate reduction. The Nasdaq closed at 20,034.89, up 1.8%. This rally benefited tech investors.