03.09.202520:03:45UTC+00S&P 500, Nasdaq Close Higher

On Wednesday, Wall Street exhibited a mixed performance as gains in the technology sector counterbalanced a broader market downturn. Investors deliberated the impact of a favorable antitrust decision for Google against emerging indications of a weakening labor market. The S&P 500 advanced by 0.5%, while the Nasdaq climbed 1%, bolstered by an impressive 9.1% increase in Alphabet shares. This uptick followed a judicial ruling permitting Google to retain Chrome and maintain its significant search agreement with Apple, alleviating concerns over a potential enforced restructuring. Apple shares rose by 3.8%, reinforcing confidence in the endurance of major tech companies despite ongoing regulatory challenges. In contrast, the Dow Jones Industrial Average declined by 24 points as declines in the financial and energy sectors countered the gains in technology. In economic data, the JOLTS report revealed that job openings fell to their lowest level since September, and factory orders saw a decrease of 1.3%. In the bond market, treasuries rallied as yields decreased, with traders nearly fully anticipating a 25-basis-point interest rate cut at the Federal Reserve's September meeting. On the earnings front, Macy's reported earnings per share that exceeded expectations, driving its shares up by more than 19%.