Nasdaq Hits Record High Amid Broadcom and Mega-Cap Tech Gains

Broadcom's rally and Tesla's AI optimism drive markets higher, as the Federal Reserve prepares for a key rate cut decision this week.

The Nasdaq Composite closed at a record high, gaining over 1%, driven by strong performance in mega-cap tech stocks like Broadcom and Tesla.
Broadcom's stock surged 11.2%, building on strong AI-driven earnings and analyst endorsements, adding over $300 billion in market cap in two sessions.
Tesla's shares rose 6.1% to an all-time high, fueled by optimism about its AI and self-driving technology under the incoming Trump administration.
The Federal Reserve is expected to announce its third consecutive rate cut on Wednesday, with economists forecasting a 25-basis-point reduction.
Super Micro Computer's shares fell 8.3% following its removal from the Nasdaq 100, reflecting broader challenges including alleged accounting issues and financial delays.