Alphabet's Legal Win Sparks Tech Surge Amid Rate Cut Speculations
The S&P 500 and Nasdaq rose due to a favorable court ruling for Alphabet, suggesting a potential rate cut. A weaker jobs report further bolstered these speculations. Apple and Macy's saw gains, while energy stocks dipped. Traders anticipate the Fed's decision influenced by upcoming job numbers.
U.S. stock markets witnessed a mixed performance as the S&P 500 and Nasdaq recorded gains driven by a significant legal victory for Alphabet.
Alphabet saw an intraday record high after a judge ruled it not necessary to sell its Chrome browser, although Google must share data with competitors.
The anticipation of a September interest-rate cut grew stronger following a softer jobs report, adding to the momentum in stock markets as investors gear up for the next Federal Reserve decision.
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