"Google's parent company was one of the strongest forces lifting the market and climbed 8.7% after avoiding some of the worst-case scenarios in its antitrust case. A federal judge on Tuesday ordered a shake-up of Google's search engine but did not force a sale of its Chrome browser. Because Alphabet is one of Wall Street's most valuable companies, its stock movements carry more weight on the S&P 500 and other indexes than the typical company's."
"Also helping to steady Wall Street was a calming bond market. A day earlier, rising yields for government bonds around the world raised the pressure on the stock market. Yields climbed on worries about governments' abilities to repay their growing mountains of debt, as well as concerns that President Donald Trump's pressure on the Federal Reserve to cut short-term interest rates could lead to higher inflation in the long term."
"On Wednesday, Treasury yields retreated following the latest report on the U.S. job market to come in weaker than expected. The 10-year Treasury yield fell to 4.21% from 4.28% late Tuesday, for example. The report showed that U.S. employers were advertising 7.2 million job openings at the end of July, fewer than economists had forecast. The number bolsters the growing sense on Wall Street that the job market may be ossifying into a low- hire, low-fire state."
The S&P 500 rose 0.3% and aimed to end a two-day losing streak after reaching an all-time high. The Dow fell 179 points (0.4%) while the Nasdaq climbed 0.9%. Alphabet surged 8.7% after a federal judge ordered a shake-up of its search engine but did not force a sale of Chrome, amplifying its index impact due to size. Global government bond yields eased after a weaker-than-expected U.S. jobs report, with the 10-year Treasury falling to 4.21%. Employers advertised 7.2 million openings in July, below forecasts and suggesting a cooling, low-hire, low-fire labor market.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]