FX.co ★ Alphabet Shares Lift S&P 500 and Nasdaq

On Wednesday, the S&P 500 rose by 0.4%, and the Nasdaq saw a gain of 0.7%, while the Dow Jones remained relatively stable as markets sought to recover from the previous day's downturn. Alphabet's shares surged over 7% following a federal judge's decision allowing the company to retain its Chrome browser. However, Alphabet must cease exclusive search agreements and share search data, thus averting the more severe measure of a potential Chrome divestiture. This news boosted the communication services sector as the pressure on government bonds eased, contributing to a more optimistic investor sentiment. On the earnings front, Macy's reported earnings per share that surpassed expectations, propelling its stock up by more than 19%. Investors are now anticipating the JOLTS report later today for preliminary insights into labor market conditions, ahead of the highly anticipated jobs report scheduled for release on Friday.