The Top Stocks to Watch: Netflix, Tesla and More

What you need to know

• Midday on Wednesday saw major U.S. stock indexes rise as tech stocks rose after the Federal Reserve cut interest rates next week, based on the most recent report about consumer inflation.
• Alphabet shares rose to a record high following the release of the tech giant's new Willow quantum computing chip.
• Netflix shares also reached a new high following JPMorgan’s increase in its target price for the stock. The company cited the content of the streaming service and the expected ad revenues by 2025.

The major U.S. indices rose at noon on Wednesday, after the Federal Reserve’s latest consumer inflation report reinforced the expectation that the Fed will lower its main interest rate in the coming week. As tech stocks surged, the Nasdaq reached a new high. The Dow and S&P 500 were also higher.

Alphabet shares (GOOGL), boosted by the anticipation of its new product, have surged to record levels. “breakthrough” quantum computing chip called Willow.

Netflix’s (NFLX), shares also rose after JPMorgan boosted its price target to $1,000 from $850. The company cited the service’s content, and anticipated ad revenues in 2025.

Tesla’s (TSLA) stock also reached a high record following a recent report stating that Tesla has not abandoned its goal of producing a $30k electric car and it could even be ready next year. Goldman Sachs has also increased its target price for the shares, following a Morgan Stanley price increase.

Walgreens Boots Alliance shares fell after yesterday’s huge spike following reports that Sycamore Partners was in discussions to take over the largest U.S. pharmacy chain.

Macy’s’ (M), shares fell sharply after it posted its late third-quarter results report. It also changed its outlook on the full-year, saying that sales had fallen short of expectations.

The price of oil and gold increased. The yield of the 10-year Treasury bill increased. The U.S. currency was stronger against the euro, pound and yen. Bitcoin, for example, surpassed $101,000.

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