The Nasdaq reached a record high of 20,173.74, climbing 1.1% as tech stocks thrived ahead of the Federal Reserve's policy meeting. Broadcom surged over 10% following strong earnings, while Tesla hit a new record, boosting its market cap to approximately $1.45 trillion. In contrast, Ford fell 4% after a downgrade, and Honeywell rose over 3% amid plans to spin off its aerospace division. The Fed is expected to cut rates by 100 bps in 2024, with a focus on future easing amid persistent inflation and a resilient labor market.
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