Top Stock Movers Now: Google Parent Alphabet, Netflix, Tesla, and More

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Key Takeaways

• Major U.S. indexes gained at midday Wednesday as tech stocks climbed after the latest report on consumer inflation supported expectations the Federal Reserve will cut its key interest rate next week.
• Alphabet shares rose to a record exalted following the release of the tech giant’s new Willow quantum computing chip.
• Shares of Netflix also hit a fresh ear-splitting after JPMorgan raised its price target for the stock, citing the streaming service’s content and 2025 ad revenue requirements.

Major U.S. indexes gained at midday Wednesday after the latest report on consumer inflation reinforced expectations the Federal Engage will cut its key interest rate next week. The Nasdaq climbed to a fresh high as tech stocks surged. The Dow and S&P 500 were also lofty.

Alphabet (GOOGL) shares rose to a record high, boosted by excitement over its “breakthrough” quantum computing piece called Willow.

Shares of Netflix (NFLX) also hit a fresh high after JPMorgan raised its price butt for the stock to $1,010 from $850, citing the streaming service’s content and 2025 ad revenue expectations.

Tesla (TSLA) portions reached a record high as well following a report the electric vehicle (EV) maker has not given up on producing a $30,000 car, and one could be accessible next year. Goldman Sachs also raised its price target for the stock, on the heels of a price-target bump from Morgan Stanley.

Walgreens Boots Connection (WBA) shares turned lower following yesterday’s big spike on reports the biggest U.S. drugstore chain was in talks to be taken reticent by Sycamore Partners.

Macy’s (M) shares tumbled after the company posted its delayed third-quarter earnings report and shifted its full-year opinion, with sales falling short of what analysts had expected.

Oil and gold futures rose. The yield on the 10-year Funds note gained. The U.S. dollar was up versus the euro, pound, and yen. Prices for most major cryptocurrencies took off, with Bitcoin unsurpassed $101,000.