Stock market today: Nasdaq tops 20,000 for first time as Big Tech surge leads stocks higher

Tech stocks are likely to continue their momentum as favorable macroeconomic conditions support them. The positive earnings and record highs indicate strong investor confidence in this sector, especially with the upcoming rate cuts that should benefit high-growth companies.

With the Federal Reserve's anticipated rate cuts and strong performance in tech stocks, MAGS ETF, tracking the 'Magnificent Seven', shows potential for continued growth as investor interest remains robust in these leading companies.

While Macy's reported disappointing results and lowered profit guidance, the overall trend in retail remains volatile. Coupled with internal investigations and management issues, the stock's downward pressure is likely to continue as market sentiment dims regarding its recovery.

Super Micro Computer is facing challenges due to past allegations and maintain a negative outlook. Continued scrutiny over accounting practices may hinder recovery despite current market trends favoring tech. The stock is likely to trend downward as investor sentiment remains skeptical.

Bitcoin's surge past $100,600 reflects a positive sentiment in the cryptocurrency market. With the anticipated supportive regulations proposed by the incoming administration, investor confidence may result in further price increases and stability in crypto-related stocks such as MicroStrategy.