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Google-parent Alphabet hits record high after Trump taps Andrew Ferguson as FTC chair

Economic TimesEconomic Times · 10d
Google-parent Alphabet hits record high after Trump taps Andrew Ferguson as FTC chair

Alphabet's stock reached a record high as President-elect Donald Trump nominated Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency. Ferguson is expected to take a less aggressive stance on antitrust enforcement compared to his predecessor, leading to speculation that the antitrust case against Alphabet will come to an end. Tesla also saw a rally in its shares due to bets that the electric vehicle company will benefit from its CEO Elon Musk's close ties with Trump. Additionally, Alphabet made headlines with the release of its new AI model and quantum computing breakthrough, solidifying its position at the forefront of transformative technologies.

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