Antitrust Ruling Bolsters Nasdaq Amid Market Uncertainty
U.S. markets saw a gentle climb on Wednesday, thanks to a significant antitrust ruling that benefited Google, pushing Nasdaq up 0.8%. Alphabet Inc., Google’s parent company, saw its stock jump by 8% during early trading.
The decision came from a federal judge who ruled Alphabet isn’t required to divest its Chrome browser. While Alphabet can’t make exclusive deals anymore or hoard search data, it can still pay Apple to set Google Search as the default for Safari and Siri. This pleased investors, as Google maintains its dominant position in search technology.
Despite this positive move, other markets like the Dow jones and S&P 500 remained cautiously optimistic. The Dow stayed near breakeven, while the S&P inched up by 0.3%.Much of the hesitation stems from ongoing worries about interest rates and trade policies, with eyes particularly focused on upcoming job reports.
Interest rates sparked more tension.The 30-year U.S. Treasury yield soared close to 5%, while the 10-year Treasury stayed above 4.29%. The Fed might slash rates next month, but economic data is causing some apprehension.
A key event comes on September 3rd with the JOLTS report, followed by August’s jobs data on Friday. Thes releases will provide insight into the U.S. labour market health and influence future rate decisions.
