Linea Mercati Interview 9/2/25
September 3, 2025Linea Mercati Interview 9/3/25
September 4, 2025September 3, 20252:40 PM EDTUpdated 6 mins ago
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 26, 2025. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights, opens new tab
- Summary
- Companies
- Alphabet gains after court ruling on Chrome browser
- Macy’s soars after annual forecast hike
- Indexes: Dow down 0.5%, S&P 500 up 0.1%, Nasdaq up 0.6%
NEW YORK, Sept 3 (Reuters) – The Nasdaq and S&P 500 were moderately higher in afternoon trading Wednesday, as Alphabet jumped after a U.S. judge ruled against breaking up the Google parent and as investors were optimistic about an interest rate cut this month.
The Dow was lower.
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Shares of Alphabet (GOOGL.O), opens new tab were up 8.7% after the late Tuesday ruling, which allows Google to retain control of its Chrome browser and Android mobile operating system, while barring certain exclusive contracts with device makers and browser developers. Shares of Apple (AAPL.O), opens new tab also rose as the ruling also preserved lucrative payments to the iPhone maker from Google.
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Two Federal Reserve officials said labor market concerns continue to animate their belief that rate cuts lie ahead. Fed Governor Christopher Waller said he thinks the central bank should be cutting at its next meeting. Atlanta Fed President Raphael Bostic reiterated his view that a rate cut is in the cards although he did not say how soon it might happen. The Fed meets later this month.
“Obviously it’s a Google and Apple market trade today,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York, but also a mixed market.
Still, he said, “I don’t think September is going to be as trying as it usually is because of the fact that the Fed is expected to lower rates.” September is historically a weak month for the stock market.
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The Dow Jones Industrial Average (.DJI), opens new tab fell 220.15 points, or 0.49%, to 45,075.66, the S&P 500 (.SPX), opens new tab gained 7.59 points, or 0.12%, to 6,423.13 and the Nasdaq Composite (.IXIC), opens new tab gained 123.62 points, or 0.58%, to 21,403.25.
Earlier, a Labor Department report showed U.S. job openings fell more than expected in July and hiring was moderate, consistent with easing labor market conditions.
Traders are now pricing in a 95.6% chance of a September rate cut, per CME Group’s FedWatch tool, compared with nearly 92% before the data.
Investors were anxious to see Friday’s monthly jobs report.
Shares of Macy’s (M.N), opens new tab rose 17.4% after the company raised its annual forecasts. On the flip side, discount retailer Dollar Tree (DLTR.O), opens new tab shares fell 9.1%.
On the Nasdaq, 1,949 stocks rose and 2,543 fell as declining issues outnumbered advancers by a 1.3-to-1 ratio.
The S&P 500 posted 15 new 52-week highs and 5 new lows while the Nasdaq Composite recorded 80 new highs and 93 new lows.
Additional reporting by Purvi Agarwal and Ragini Mathur in Bengaluru; Editing by Devika Syamnath and David Gregorio
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