Nasdaq 100 futures gained 0.69% as investor sentiment turned positive following the Google antitrust ruling.
U.S. stocks appear set for a positive opening on Wednesday after a U.S. District Court ruling rejected a forced sale of Alphabet Inc.’s (GOOG) (GOOGL) Google Chrome web browser and the company’s lucrative search deal with Apple Inc. (AAPL).
While Dow Jones futures were flat at the time of writing, the S&P 500 futures rose 0.46%, and the tech-heavy Nasdaq 100’s futures gained 0.69%. Futures of the Russell 2000 index were down 0.17%.
Meanwhile, the SPDR S&P 500 ETF (SPY) was up 0.48% at the time of writing, while Invesco QQQ Trust (QQQ) gained 0.73% on Wednesday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.
Asian markets ended Wednesday’s trading session on a largely negative note, with the Shanghai Composite declining the most at 1.17%, followed by the Nikkei 225 at 0.91%, and the Hang Seng index at 0.67%.
The KOSPI gained 0.38%, while the TWSE Capitalization Weighted Stock index closed 0.35% higher.
Stocks To Watch
- Alphabet Inc. (GOOG) (GOOGL): Alphabet shares surged nearly 6% in Wednesday’s pre-market session after the company dodged hefty penalties in an antitrust case involving its business practices in the U.S. search market.
- Apple Inc. (AAPL): Apple shares surged more than 3% pre-market after the Google antitrust ruling allowed the search giant to continue its deal with the iPhone maker. Google’s deal with Apple allows its search engine to be the default option on the Safari browser, and it is valued at more than $20 billion a year.
- Taiwan Semiconductor Manufacturing Co. (TSMC): TSMC announced on Wednesday that the U.S. government will revoke its authorization to freely ship chips to its Nanjing site in China by the end of 2025. Taiwan’s economic ministry stated that the Nanjing site accounts for approximately 3% of TSMC’s total production capacity.
- Macy’s Inc. (M): Macy’s shares soared more than 11% pre-market after the company’s second-quarter (Q2) results beat Wall Street expectations. Macy’s reported earnings per share (EPS) of $0.44 on revenue of $4.81 billion, while analysts expected EPS of $0.18 on revenue of $4.7 billion, according to Stocktwits data.
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