A federal judge had already ruled that Alphabet holds a monopoly in internet search. The tech leader was waiting for its sentence. Regulators wanted to break up the monopoly by forcing Alphabet to divest Google Chrome, the world's most popular browser. That would have meant a major hit to the tech company's most important source of revenue, advertising, since Alphabet uses the browser to maintain its dominance in search (it is the default engine on Chrome), collect data to help guide targeted ad campaigns, and more.
As CNBC reports, ADP's private payrolls report issued this morning shows that private employers added 54,000 net new jobs last month, about one-third worse than the 75,000 positions economists had predicted, and barely half the 106,000 jobs added in July. This is bad news for the economy, but arguably good news for stock traders hoping to see the Federal Reserve cut its target interest rate at the FOMC meeting two weeks from now. And because rate cuts are generally considered "good" for making the stock market rise, investors don't seem too upset by today's bad employment news.
A federal judge just ruled that Google does not have to sell its Chrome browser, and Googlers seem pretty happy about it. On Tuesday, US District Judge Amit Mehta handed down penalties to Google after ruling its search business a monopoly. The US Justice Department, which filed the suit against Google in 2020, had proposed forcing the company to sell its Chrome browser. The judge ruled against this-one of several decisions made in the landmark antitrust case.
Wall Street is sinking on Tuesday as rising pressure from the bond market pulls U.S. stocks further from their records. The S&P 500 fell 1.1% and was on track for its worst day in a month. The Dow Jones Industrial Average was down 412 points, or 0.9%, as of 2:30 p.m. Eastern time, and the Nasdaq composite was 1.3% lower. All three are still relatively close to their recently set all-time highs.
On Friday, a federal appeals court ruled many of the President's recently announced tariffs unconstitutional, raising the prospect that monies raised from the levies will have to be refunded, and will not in fact reduce the deficit at all. With this income stream now threatened, yields on US Treasury bonds are rising, with the 30-year Treasury bill approaching 5% today.
Perplexity is enhancing its Finance dashboard by adding live transcriptions of quarterly earnings calls for Indian public companies and providing a schedule for post-results conference calls.
The Trade Desk operates the leading independent demand-side platform (DSP) that helps media buyers optimize advertising campaigns across digital channels, leveraging artificial intelligence.
