Wall Street regained momentum as an Alphabet tech rally lifted major indexes. The S&P 500 rose 0.3 percent, breaking a brief losing streak. Meanwhile, the Dow Jones slipped 150 points, or 0.3 percent, while the Nasdaq surged 0.9 percent.
Alphabet jumped 8.3 percent after avoiding the harshest penalties in its antitrust case. A judge ordered changes to its search engine but stopped short of forcing a Chrome browser sale. Therefore, investors celebrated the Alphabet tech rally, which had an outsized impact due to the company’s market weight.
Bond markets also provided support. Treasury yields retreated after weaker-than-expected job data, easing pressure on equities. The 10-year yield fell to 4.21 percent from 4.28 percent. Consequently, traders grew more confident about possible rate cuts from the Federal Reserve.
The report showed employers listed 7.2 million job openings, below forecasts. As a result, expectations grew that the Fed may cut rates at its next meeting. Lower rates could fuel growth, though tariffs may still pressure inflation.
Technology stocks benefited the most. Apple gained 2.7 percent after analysts highlighted how Google’s partnerships would continue driving revenue. Campbell Soup advanced 4.8 percent thanks to better-than-expected profit from brands such as Goldfish and V8. Executives, however, warned that tariffs might limit future gains.
Macy’s soared 16.4 percent after reporting stronger profit and revenue than expected. The retailer also achieved its best sales growth in three years and raised forecasts. Meanwhile, American Bitcoin, a Trump-linked mining firm, rocketed 35.7 percent in its Nasdaq debut, with trading halts triggered by volatility.
On the losing side, Dollar Tree fell 7.9 percent despite strong profit results. Analysts explained that high expectations and tariff timing weighed heavily on its stock performance.
Overseas, European markets edged higher, while Japan’s Nikkei 225 fell 0.9 percent amid political uncertainty about Prime Minister Shigeru Ishiba.
In summary, Wall Street steadied as an Alphabet tech rally boosted confidence, and bond yields eased. Earnings from major companies added both optimism and caution to investor sentiment.
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