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Why Alphabet Stock Topped the Market Today

The Motley Fool Logo The Motley Fool By Eric Volkman
Why Alphabet Stock Topped the Market Today

Alphabet's stock rose over 2% following news that U.S. lawmakers will hold hearings on advancing autonomous vehicle technology. The House energy and commerce subcommittee will consider proposals to increase self-driving vehicle deployments, including allowing up to 90,000 autonomous vehicles per year. This development is positive for Alphabet's Waymo subsidiary, a leader in self-driving technology, which has high-level political and administrative support.

Insights
VYLD   neutral

Participating as lead bank in a standard syndicated loan arrangement without exceptional risks or opportunities


GOOG   positive

Stock gained 2.5% on news of congressional hearings supporting autonomous vehicle advancement. Alphabet's Waymo subsidiary is positioned as a leader in self-driving technology with high-level political backing from both lawmakers and the Trump administration, suggesting favorable regulatory conditions ahead.