Wall Street is steadying on Wednesday as Alphabet and other technology stocks rise.
The S&P 500 added 0.3% and was on track to break its two-day losing streak since setting its latest all-time high. The Dow Jones Industrial Average was down 179 points, or 0.4%, as of 12:32 p.m. Eastern time, and the Nasdaq composite was 0.9% higher.
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.
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