The U.S. stock market opened to a different rhythm on Wednesday: tech was back in the driver’s seat, and with it, the Nasdaq reclaimed the early lead. Within minutes of the 9:30 a.m. ET bell, a court decision that kept Google’s parent, Alphabet, intact jolted sentiment across mega-cap tech and pulled the broader market higher. The S&P 500 followed the move, while the Dow lagged, reflecting the day’s style tilt toward growth and communication-services heavyweights.
Here’s what changed. A U.S. judge opted for targeted behavioral remedies rather than a breakup in a long-running antitrust case, allowing Google to maintain key distribution arrangements that keep its search engine front and center. That legal clarity removed a material overhang for one of Wall Street’s most closely watched companies—and by extension, for every portfolio tethered to index concentration and Big Tech earnings power. Alphabet shares surged more than 6% at the open, adding a large chunk of market value in a few ticks and delivering a mechanical boost to cap-weighted indices.
The ruling’s spillover effects reached beyond a single ticker. Apple climbed in early trading as investors considered how preserved payments and potential AI tie-ups could support its services flywheel and a refreshed Siri experience. Software and chip names found a bid as well, with traders rotating back into platform and infrastructure plays that benefit when regulatory clouds lift and AI monetization narratives regain momentum. In sector terms, Communication Services and Information Technology led gainers, while defensives and some tariff-exposed retailers underperformed.
Momentum, however, still hinges on the macro calendar. The market is bracing for labor-market updates culminating in Friday’s nonfarm payrolls report, a release that could move Treasury yields and reset bets on autumn rate cuts. That’s why the tone after the bell felt more like a repricing than a melt-up: investors were willing to add risk on a clear legal win for Alphabet, but they weren’t ready to ignore how a surprise in jobs data might ripple through real yields, valuations, and equity risk premiums.
For traders searching “Nasdaq today,” “Alphabet antitrust ruling,” or “S&P 500 after the open,” the upshot is straightforward. Legal risk around Google’s search distribution has eased for now, and that was enough to restore Big Tech leadership right out of the gate. If the jobs data cooperate—neither too hot to push yields sharply higher nor too soft to stoke growth worries—the path of least resistance is for the rally to broaden. If not, expect the next decisive swing to come from the bond market, not the courthouse.
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