The Nasdaq Composite hit a new all-time high on Wednesday, rallying above 20,000 for the first time in the index’s 53-year history as shares surged across several tech-based stocks.

<div class="image-embed__placeholder"><img src="https://specials-images.forbesimg.com/imageserve/6759ca73205c9c3fe71c618d/Markets-Open-After-Dropping-Over-400-Points-On-Tuesday/960x0.jpg?cropX1=0&amp;cropX2=2500&amp;cropY1=185&amp;cropY2=1592" alt="Markets Open After Dropping Over 400 Points On Tuesday" width="100%" height="auto"></div><figcaption><fbs-accordion class="expandable" current="-1">Analysts remained optimistic about interest rate cuts after an inflation report fell in line with ... [+] projections.</fbs-accordion>Getty Images</figcaption>

<div class="key-facts-element"> The tech-heavy Nasdaq increased by 1.7% to 20,029.53 as of around 12:20 p.m. EST, while the S&amp;P rose by about 0.8% and the Dow Jones Industrial Average added 50 points, or 0.1%. </div>

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Analysts remained optimistic about interest rate cuts after an inflation report fell in line with projections.{ai:summary}The Nasdaq Composite reached a record high of 20,029.53, marking its first time surpassing 20,000 in 53 years. This increase of 1.7% was driven by a surge in tech stocks, amid optimism for potential interest rate cuts following a favorable inflation report.The S&P 500 and Dow Jones also saw gains, rising by 0.8% and 0.1%, respectively. #economy

Nasdaq Rises To All-Time High—Hitting 20,000 For First Time

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