The Nasdaq Technology Index surpasses the 20,000-point level for the first time ever.

The heavy-weighted Nasdaq 100 index, which consists of technology sector stocks, crossed the 20,000 point mark for the first time in its history on Wednesday, reaching a new peak at 20,029.88 points, the highest number the index has ever recorded, after rising by 1.75%. Meanwhile, the Standard & Poor's 500 index increased by 0.89% to 6,088.71 points, while the Dow Jones Industrial Average remained steady at 44,249.98 points.

This came at a time when the Nasdaq gained significant upward momentum due to the collective rise in stocks of the technology sector in the United States, just a few hours after the release of the U.S. inflation data for November, which bolstered expectations that the Federal Reserve might cut interest rates by another 25 basis points at the upcoming Federal Open Market Committee meeting next week.

Nasdaq's gains today were primarily driven by the earnings of the technology and communications sectors, with both sector indices rising by 1.67% and 2.83% respectively.

On the other hand, the companies that led the gains in Nasdaq were: Broadcom with a rise of 5.3%, followed by Google's shares with an increase of 4.6% for both class A and B shares, after the company announced the launch of a new update for its AI model; Gemini.

Following these, shares of Marvell Technology and CrowdStrike rose by 4.22% and 4.19% respectively.