The Nasdaq Composite Index surged past the 20,000-point mark for the first time on Wednesday, driven by a rally in technology stocks. This milestone was reached amid expectations of looser regulation under Donald Trump's presidency and bets on AI-fueled earnings growth in the coming quarters. The index, which has risen over 33% this year, closed at 20,034.89 points, up 1.8% from the previous day. The surge was led by major technology companies like Apple, Alphabet, Amazon, Meta, and Tesla, with five of the 'Magnificent Seven' tech giants reaching all-time highs. The S&P 500 also saw gains, rising 0.8%, while the Dow Jones Industrial Average fell for the fifth session. This rally was further supported by an in-line US inflation report, which solidified expectations for a Federal Reserve interest rate cut later this month. The Nasdaq 100 rose 1.2% to reach a record intraday high, while the S&P 500 and Dow Jones closed at 6,082.97 and 44,140.91, respectively.