Nasdaq closes above 20,000 for first time on tame U.S. inflation

Tesla shares hit record high, but insurers drag Dow lower

20241211N Nasdaq

Nasdaq is rallying on the outlook for a Fed rate cut, an analyst said. © Reuters

NEW YORK (Reuters) -- Wall Street's benchmark S&P 500 index rose on Wednesday and a rally in tech stocks lifted the Nasdaq above the 20,000-point milestone for the first time, after a U.S. inflation report boosted expectations of a Federal Reserve interest rate cut.

The Dow Jones Industrial Average dipped, dragged by health insurers as U.S. lawmakers introduced a bill seen as crimping their profits.

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