Google Antitrust Decision Fuels Tech Stock Rally, Futures Edge Higher

Stock futures saw a modest rise early Wednesday, buoyed by a federal court’s decision in a pivotal antitrust case against Alphabet, Google’s parent company. The ruling has instilled a sense of optimism that major tech firms can effectively navigate ongoing regulatory pressures.

S&P 500 futures climbed 0.07%, and Nasdaq-100 futures jumped 0.23% following the news. Dow Jones Industrial Average futures, however, were down by approximately 0.32%.

Shares of Alphabet surged over 7% in after-hours trading yesterday after a federal judge ruled that Google can retain its Chrome browser but must cease exclusive search deals and share its search data. This outcome, which avoided the most severe penalties, largely acknowledged the increased consumer choice fostered by artificial intelligence advancements.

The decision also benefits Apple, allowing it to continue preloading Google Search on its iPhones—a highly profitable arrangement. Apple’s stock also saw a rise of over 3% as it faces its own separate antitrust challenges.

The broader market had a challenging start to September, with stocks losing ground during Tuesday’s trading session as investors locked in profits from the summer rally. All three major U.S. indexes ended the day in the red, with the Dow losing 0.55%, the S&P 500 shedding nearly 0.7%, and the Nasdaq Composite dropping about 0.8% as tech giants like Nvidia posted losses.

Bond yields also spiked on Tuesday, with the 10-year Treasury yield reaching 4.27% and the 30-year yield topping 4.97%. This rise came as traders considered the implications of a federal appeals court’s ruling last Friday, which deemed many of President Donald Trump’s global tariffs illegal, potentially forcing the U.S. to refund billions in trade duties.

Investors are now keenly awaiting Friday’s August jobs report, which is anticipated to be the next significant market driver.

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