Tech Stocks Propel Wall Street After Alphabet Ruling

Wall Street found stability on Wednesday as technology stocks, particularly Alphabet, rallied significantly. The market also benefited from relief in the bond market, which came on the back of disappointing U.S. job data. This fueled hopes that the Federal Reserve might soon cut interest rates to boost the economy.

The S&P 500 climbed 0.5%, recovering from a two-day decline after reaching an all-time high. Google's parent company saw a 9.1% surge following favorable developments in its antitrust case, influencing key market indices. Meanwhile, the bond market cooled as treasury yields dropped after initial concerns about government debt and inflation prospects.

Other tech stocks, including Apple, gained momentum due to the Alphabet ruling. Retail giant Macy's saw a 20.7% rise after reporting impressive earnings, while the newly merged American Bitcoin experienced a volatile but ultimately positive first trading day. However, Dollar Tree shares dropped despite positive earnings, affected by tariff timing.

(With inputs from agencies.)