Wednesday saw developments across markets and geopolitics as US markets saw a mixed session, with most gains tied to Google and Alphabet.
The US job openings fell to their lowest level in 10 months.
Meanwhile, China projected military strength at a high-profile parade alongside Russian and North Korean leaders, highlighting shifting global alliances.
US job openings fall to 10-month low
US job openings fell in July to the lowest level in nearly a year, signaling waning demand for labor amid policy uncertainty.
According to the Bureau of Labor Statistics, vacancies dropped to 7.18 million from a downwardly revised 7.36 million in June, below the Bloomberg survey estimate of 7.38 million.
The decline was concentrated in health care, retail, and leisure and hospitality, with health care openings falling to their lowest since 2021.
The Job Openings and Labor Turnover Survey (JOLTS) also showed layoffs rising to the highest level since September, particularly in construction, while the vacancies-to-unemployed ratio held at 1-to-1, its lowest since 2021.
The data adds to evidence of a gradually softening labor market, closely watched by the Federal Reserve as it weighs interest rate cuts later this month.
Wall Street reacts to labor and tech news
Investors increased bets that the Federal Reserve will cut rates in September after weak labor data boosted demand for bonds.
The shift also supported equities, with stocks breaking a two-day losing streak on strength in big tech.
Treasuries rebounded after a recent slide pushed the 30-year yield near 5%, while Alphabet Inc. and Apple led megacap gains as Google avoided a forced divestiture of Chrome.
Equity markets responded with mixed sentiment. The S&P 500 rose 0.06%, led by large-cap tech, and the Nasdaq Composite advanced 0.54%. The Dow Jones Industrial Average lagged, slipping 234 points, reflecting underperformance in energy and bank stocks.
Google wins partial relief in Antitrust Case
Alphabet shares surged as much as 8% after a US federal judge rejected the Department of Justice’s push for the company to divest its Chrome browser in an antitrust case.
US District Judge Amit Mehta ruled that Google will not be forced to sell Chrome or its Android operating system, rejecting what the court called “overreach” by plaintiffs.
Instead, the court barred Google from entering into exclusive contracts requiring payments or licensing that restrict competition.
The decision was seen as a relief for Alphabet, which avoided the most severe remedies sought.
Apple also benefited, with shares up more than 3%, as the ruling allowed it to continue preloading Google Search on its devices.
The judgment eased regulatory concerns across the tech sector, lifting broader sentiment. Alphabet stock is now up more than 20% so far in 2025.
China stages military parade with global allies
Beyond US markets, geopolitical focus turned to Beijing, where President Xi Jinping presided over a large-scale military parade marking the 80th anniversary of Japan’s World War II surrender.
Xi was joined by Russian President Vladimir Putin and North Korean leader Kim Jong Un, highlighting China’s deepening ties with US rivals.
The parade showcased hypersonic and nuclear-capable missiles, advanced drones, and new naval systems, underscoring Xi’s goal of building a “world-class military.”
Analysts noted the display of hardware but cautioned that China’s combat readiness remains untested, as the country has not fought a major war since 1979.
Domestically, Xi framed the event as a call for national unity, while internationally positioning China as a counterweight to Western influence.
The absence of US and European leaders highlighted the growing geopolitical divide.
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