Dow Jones Today: S&P 500, Nasdaq Futures Rise as Google Soars on Antitrust Ruling

U.S. stocks rose in early trading Wednesday, with the major indexes boosted by tech stocks after Google was spared the worst in its landmark search monopoly case.

The S&P 500 was up 0.4% Wednesday morning, while the tech-heavy Nasdaq Composite advanced 1%. The Dow Jones Industrial Average slipped 0.4%. Stocks slumped yesterday after a judge late last Friday ruled President Trump’s “reciprocal” tariffs on most U.S. trading partners were illegal, injecting fresh uncertainty into the trade outlook.

Investors are anxiously awaiting major labor market data this week, with the main event coming on Friday with the release of the August jobs report. July’s data showed the U.S. added far fewer jobs in the spring than previously thought. The Federal Reserve will be watching the data closely as policymakers weigh whether to lower interest rates at their next meeting in two weeks. The majority of market participants expect the Fed to make its first rate cut of the year later this month.

Shares of Google parent Alphabet (GOOG) soared 8% Wednesday after a federal judge spared it from selling its Chrome browser as a remedy to last year’s landmark antitrust ruling against the search giant. The ruling allows Google to continue paying other companies for Chrome to be preloaded onto new devices, but bars it from inking exclusive deals. Shares of Apple (AAPL), which Google pays about $20 billion a year to be the default browser on iPhones, rose nearly 3%.

The shares of other major tech companies, which led last Friday’s selloff and remained under pressure yesterday, rose on Wednesday. Shares of Tesla (TSLA) were up 1%, while Nvidia (NVDA), Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), and Broadcom (AVGO) inched higher.

Macy’s (M) stock soared more than 20% after the department store topped estimates with its second-quarter results and raised its full-year outlook. Shares of Dollar Tree (DLTR) tumbled 7% on the discount retailer’s lackluster guidance.

The yield on the 10-year Treasury, which affects interest rates on a variety of consumer and commercial loans, slid to 4.24% from 4.26% at yesterday’s close. The 30-year yield, which early Wednesday briefly topped 5% for the first time since July, was recently at 4.93%.

Gold climbed to a record high for the third straight day, and was recently up about 0.6% at $3,615/oz as tariff and economic uncertainty nudged some investors into the traditional safe haven. West Texas Intermediate futures, the U.S. crude oil benchmark, dropped about 1% to $64.30 a barrel.

Bitcoin was up at $111,800 in recent trading, up from an overnight low of $110,600. The cryptocurrency has come under pressure in recent weeks after hitting a record high of more than $124,000 in early August.

The U.S. dollar index, which tracks the performance of the U.S. dollar against a basket of foreign currencies, ticked down about 0.1% to 98.30.