U.S. stock market: Today’s hot stocks Alphabet, American Eagle, Nvidia lead market movers — are investors chasing the right picks now?

U.S. stock market is navigating a rocky September, a month often marked by heightened volatility and investor caution. Against this backdrop, Alphabet, American Eagle, and Nvidia are standing out as today’s hot movers — each for very different reasons.

Alphabet’s antitrust victory has lifted tech sentiment, American Eagle stunned Wall Street with a retail surge, and Nvidia continues to anchor the AI-driven chip rally.

But with Salesforce, Figma, and C3.ai sinking on weak outlooks, the divide between winners and losers is widening, reminding investors why September rarely offers smooth sailing.

Here’s the stocks that are moving the market today — and what investors should really pay attention to.

Alphabet (GOOGL) – A Legal Win Ignites Big Tech Momentum

Alphabet surged nearly 9% intraday after a favorable ruling in an antitrust case, a development that quickly boosted investor sentiment around large-cap tech. The rally isn’t just about courtroom headlines.

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For Wall Street, it signals that regulatory headwinds may not derail the company’s core businesses as much as feared.

Alphabet’s dominance in search and advertising is under constant scrutiny, but the legal clarity offers breathing room.

Investors see this as strengthening its competitive moat at a time when AI integration into search, cloud, and ads is already driving future growth expectations.

American Eagle Outfitters (AEO) – Retail’s Surprise Outperformer

American Eagle is today’s retail shocker, soaring over 25% after strong earnings guidance and a viral marketing lift from its Sydney Sweeney-led denim campaign. The fashion retailer has historically lagged giants like Abercrombie or Gap, but today’s results suggest a turnaround narrative that’s catching Wall Street’s eye.

Credo Technology (CRDO) – Earnings Beat Propels Momentum

Credo Technology rallied 11% after reporting quarterly results that beat both revenue and earnings expectations. With year-over-year growth exceeding forecasts, the networking solutions firm is positioning itself as a small but notable player in the AI and cloud infrastructure supply chain.

Infrastructure suppliers like Credo are often overlooked compared to giants like Nvidia or Broadcom. Yet, strong results here confirm that AI’s growth story is not confined to chipmakers — it spreads across the supply chain, and these mid-cap names can deliver outsized gains when momentum catches on.

Tesla (TSLA)

Tesla briefly grabbed traders’ attention today when it popped above its 200-day moving average, a level that often signals fresh buying momentum. The move triggered what technicians call an “aggressive buy signal.” But the rally didn’t stick.

By midday, the stock had retreated below resistance, reminding investors how quickly Tesla’s intraday swings can reverse.

This isn’t unusual. Over the past year, Tesla has logged more than 40 trading sessions with single-day swings above 5%, underscoring its status as one of the most volatile names in the S&P 500.

Hewlett Packard Enterprise (HPE) – Steady, Not Flashy

HPE gained 3.7% on the back of a Q3 beat and a raised full-year outlook, partly thanks to its acquisition of Juniper Networks. While the move isn’t as dramatic as tech peers, it reassures investors that HPE can steadily benefit from enterprise demand for cloud and networking.

Western Digital (WDC) – Analysts’ New Favorite

Western Digital shares climbed 3–5% after Morgan Stanley upgraded the stock, calling it a “Top Pick” for long-term growth. The analyst note highlighted buybacks, dividend potential, and strengthening demand for storage solutions as the AI boom fuels data creation.

Storage demand is set to accelerate as AI workloads balloon. Investors betting on infrastructure plays — not just GPUs — are increasingly looking at WDC and Seagate as underpriced opportunities. The analyst call reinforces that view, pulling in institutional interest.

Nvidia, AMD, and the AI Semiconductor Club

Nvidia remains a central player, with analysts like Cantor Fitzgerald setting ambitious forecasts of $8 EPS, well ahead of current consensus. AMD, Broadcom, and TSMC are also part of today’s “AI basket” as investors continue to see chip demand outpace expectations.

Stocks Facing Heavy Selling – Salesforce, Figma, C3.ai, GitLab

• Salesforce (CRM): Dropped ~7% despite beating Q2, with weak Q3 guidance spooking investors.
  
  
• Figma: Down 15% after missing revenue estimates in its first post-IPO report.
  
  
• C3.ai & GitLab: Both tumbled as weak outlooks and executive shifts hit confidence.

Investor Takeaway

The U.S. stock market is seeing a clear split: established giants like Alphabet and Nvidia are consolidating leadership, mid-cap plays like Credo are getting recognition, and consumer brands like American Eagle are proving that old-fashioned demand still drives stock rallies.

On the flip side, high-expectation names without solid guidance are being punished swiftly.