Nasdaq Hits Record High as Big Tech Stocks Soar

Major U.S. indexes rose as tech stocks surged, driven by expectations of a Federal Reserve interest rate cut. Alphabet's shares hit a record high due to its new quantum computing chip, while Netflix's stock also reached a new peak after a price target increase by JPMorgan. Tesla shares climbed on optimism about a potential $30,000 car. Meanwhile, Walgreens Boots Alliance shares fell after a spike, and Macy's shares dropped following disappointing earnings. Oil, gold, and cryptocurrency prices rose, with Bitcoin surpassing $101,000.