Quick overview

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US stocks ended a two-day losing streak on Wednesday as tech giants rebounded from a court ruling in favor of Alphabet and Apple. U.S equities also rose as a decline in US job openings bolstered expectations of a rate cut, which pushed Treasury yields lower.

The S&P 500 Index finished the day 0.5 points higher, with four of the eleven sectors in the green. Oil prices fell following news that OPEC+ may consider increasing production at a weekend meeting,  causing energy stocks to plummet the most since June.

A measure of the Magnificent Seven companies increased 2.2 percent, while the Nasdaq 100 Index rose 0.8 percent.

The yield on the 10-year Treasury dropped to 4.22 percent. In the largest antitrust case in thirty years, a judge rejected the government’s most aggressive proposals, sparing Google from a split that would have involved selling its Chrome browser.

Apple also benefited significantly from the ruling because Google will still be able to compensate its partners, earning roughly $20 billion annually. Salesforce fell in post-market trading after forecasting weak sales growth.

Dollar Tree dropped 8 percentage points following the release of second-quarter results because of inventory issues and tariffs. Macy’s rose 21 percent, the highest since 2021, after reporting its best comparable sales growth in three years and raising its annual outlook.

The Campbell’s Company posted better-than-expected results, causing it to climb 7 points, the most since March 2020