Nasdaq breaks 20,000 points for first time

US stock indices mostly ended in the green on Wednesday, as the November inflation report aligned with economists' expectations. This revived hopes that the Federal Reserve might cut interest rates next week.

The Dow Jones Industrial Average edged up 0.2%, or 99 points, ending at 44,148.

Likewise, the S&P 500 Index added 0.8%, or 49 points, to 6,084. The Nasdaq Composite jumped about 1.75%, or 347 points, to 20,034. It closed above the 20,000 mark for the first ever time.

Alphabet Inc. advanced 5.5% to an all-time high of $195.40.

As for the European indices, STOXX Europe 600 rose 0.3% to 519.95 points, with media shares rising 1.4%.

FTSE 100 fell 0.25% to 8,301 points. DAX 40 finished 0.35% up at 20,399 points.

France’s CAC 40 inched up 0.4% to 7,423 points,

In Japan, Nikkei 225 remained unchanged at 39,372 points. TOPIX rose 0.3% to 2,749 points.

In the oil market, prices for Brent crude futures for February 2025 delivery rose by 1.85% or $1.33, reaching $73.52 a barrel.

Meanwhile, US WTI crude futures for January 2025 delivery added 2.5% or $1.70, settling at $70.29 per barrel.

Gold futures for February 2025 delivery climbed by 1.4% or $38.30, reaching $2,756.70 per ounce.

Economic data showed that the Consumer Price Index (CPI) rose by 0.3% in November compared to October and by 2.7% year-on-year. While inflation data indicated an acceleration, it aligned with analysts' expectations, suggesting the potential for the continuation of monetary easing.