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Alphabet, Apple Jump on Antitrust Ruling as Cooling Jobs Data Steadies Markets

A drop in job openings lifted odds of a September Fed cut, easing long-term Treasury yields.

Overview

  • Judge Amit Mehta declined to force a sale of Google’s Chrome and left core distribution payments intact, a boost that sent Alphabet to record highs and lifted Apple on expectations its lucrative search deal continues.
  • U.S. job openings fell to about 7.18 million in July, a 10‑month low, pushing CME FedWatch probabilities for a September rate cut to roughly 95%–97%.
  • The 10‑year Treasury yield pulled back toward 4.21% from about 4.28% the prior day, relieving pressure after earlier global bond selloffs that had driven long‑dated yields higher.
  • Major indexes finished mixed with tech strength concentrated in megacaps: the S&P 500 rose roughly 0.5%, the Nasdaq gained about 1%, and the Dow edged lower.
  • Asian equities opened higher and U.S. futures were steady as investors look to ADP, weekly claims and Friday’s payrolls for confirmation of a cooling labor trend, while Macy’s rallied on raised guidance and Dollar Tree slid on tariff‑related pressure.