Finance
Nasdaq hits 20,000 for first time as AI rally rages on
Published by Global Banking & Finance Review®
Posted on December 11, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 11, 2024
1 min readLast updated: January 27, 2026
The Nasdaq surpassed 20,000 points, driven by AI and tech stock growth. Nvidia, Microsoft, and Apple lead the surge, fueled by Trump's regulatory policies.
(Reuters) - The Nasdaq breached the 20,000-point mark on Wednesday, as a rally in technology stocks showed no signs of slowing on hopes of looser regulation under Donald Trump's presidency and bets on AI-fueled earnings growth in the coming quarters.
The tech-heavy index rose 1.6% to an all-time high of 20001.42 points.
It has jumped more than 33% this year, outperforming the benchmark S&P 500 and blue-chip Dow, as technology megacaps including Nvidia, Microsoft and Apple add more heft to the index with their relentless surge.
Currently, the three companies form the $3-trillion club, with the iPhone maker gaining a narrow lead.
The index hit 19,000 points for the first time in early November, when Donald Trump secured victory in the U.S. presidential election and his Republican Party swept both houses of Congress.
U.S. equities have since been supported by hopes that Trump's policies on tax cuts and looser regulation could support Big Tech firms, and the Federal Reserve's monetary easing could keep the U.S. economy humming.
(Reporting by Shashwat Chauhan in Bengaluru; Editing by Anil D'Silva)
The article discusses the Nasdaq reaching 20,000 points, driven by a rally in AI and technology stocks.
The surge was fueled by AI-driven earnings growth and expectations of looser regulations under Trump's presidency.
Nvidia, Microsoft, and Apple are the key companies contributing to the Nasdaq's rise.
Explore more articles in the Finance category
