The stock market today is moving slightly higher after a major court decision gave tech investors a reason to cheer. Alphabet, the parent company of Google, avoided severe penalties in a landmark antitrust case, fueling optimism across Wall Street.
S&P 500 and Nasdaq climb as Google jumps
Markets opened mixed Wednesday morning:
- S&P 500 futures: +0.5%
- Nasdaq-100 futures: +0.7%
- Dow Jones futures: Flat
Shares of Alphabet (GOOG) surged 6% in premarket trading after a judge ruled the company could keep its Chrome browser and existing search partnerships—dodging the harshest potential antitrust outcomes.
Apple (AAPL) also rose 3%, since the ruling preserves its lucrative deal to keep Google as the default search engine on iPhones and Siri.
Why the Google ruling matters for markets
Investors feared the case could force Google to divest key assets like Chrome or Android, potentially breaking up its search dominance. But the court instead cited AI competition as a reason not to impose drastic changes.
That gave Big Tech a regulatory breather and revived confidence in the sector’s momentum heading into the fall.
Analysts at Wedbush called the ruling a “massive win” for both Google and Apple, paving the way for deeper AI partnerships through platforms like Google Gemini.
September usually brings volatility
Despite today’s lift, analysts are warning that September remains the weakest month for stocks historically. Since 1950, the S&P 500 has averaged a -0.7% return in September, according to Wells Fargo.
Several pressure points remain:
- Bond yields continue rising, with 30-year Treasury yields nearing 5%
- Tariff policy uncertainty is back after a court ruled many of Trump’s tariffs were illegal
- Political noise continues with reports of potential Fed chair replacements and threats of a government shutdown
All eyes on upcoming jobs data
The next major market test comes Friday with the August jobs report. The JOLTS openings report and factory orders due today could offer early hints about labor market strength.
If data shows signs of cooling, the Federal Reserve may consider a deeper rate cut at its upcoming meeting—a move that could fuel further stock gains and ease bond market stress.
Around the world: Asia and gold
- Hong Kong’s Hang Seng fell 0.6%
- Japan’s Nikkei 225 dropped 0.88%
- Australia’s ASX 200 plunged 1.8%, led by tech and property stocks
- Gold hit a fresh record above $3,546 as investors hedge against rising debt and inflation concerns
Meanwhile, global bond markets are selling off across the U.S., U.K., and Japan amid fears over government deficits and future rate uncertainty.