Stock market today: Nasdaq closes above 20K for first time as tech resumes rally

Investing.com -- The Nasdaq closed above 20,000 for the first time ever Wednesday, as tech resumed its rally following in-line inflation data that largely cemented a Federal Reserve interest rate cut next week.Tech resumes as rally as Nvidia snaps out of recent funk, Google adds to gains; Tesla hits record) jumped more than 5% adding to its gains from a day earlier, when the tech giant announced a new breakthrough in quantum computing, which could herald a sharp increase in computing speeds.

"In our view, this is a favorable report for the Fed," it added, backing a 25bps rate cut next week the Fed's December 17-18 meeting.

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