Futures for the S&P 500 and Nasdaq 100 rose on Wednesday following a significant federal court decision in an antitrust case involving Alphabet. This ruling alleviated some regulatory concerns for major technology companies. In after-hours trading, shares of Google’s parent company, Alphabet, surged by 7% after the judge decided that while the company can retain its Chrome browser, it must cease exclusive search agreements and begin sharing search data. Apple, another company under antitrust scrutiny, experienced a nearly 3% increase in share value, as it was allowed to continue preloading Google Search on its iPhones.
On Tuesday, the Dow Jones Industrial Average dropped by 0.55%, the S&P 500 fell by 0.69%, and the Nasdaq Composite decreased by 0.82%. Market sentiment was dampened by factors including trade policy, interest rate expectations, and economic indicators. Higher Treasury yields further contributed to the pressure, with the 10-year yield hovering around 4.3% and the 30-year yield nearing 5%, both of which are perceived as challenging for the equity markets. Additionally, investors remained cautious since September has historically been a sluggish month for U.S. stocks.
