Nasdaq surpasses dream limit after inflation figures

» Published: December 11 2024

Nasdaq surpasses dream limit after inflation figures
Photo: Peter Morgan/AP/TT

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The American Nasdaq composite index closed for the first time at a level above 20,000 points on Wednesday.

The technology-heavy stock index rose 1.8 percent during the day. Technology companies such as Alphabet, which rose 5.5 percent, acted as a locomotive.

Much of the index's rise is explained by the fact that it measures the stock market development for many interest-rate sensitive companies. They were strengthened by Wednesday's American inflation figures, which supported the prognosis that the central bank Federal Reserve (Fed) will lower the interest rate further at its meeting next week, writes CNBC.

The broad S&P500 index rose 0.8 percent and was thus close to its previous record, while the Dow Jones industrial index fell by 0.2 percent.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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