U.S. stocks led higher by tech shares after Google victory

Alphabet stock up 8% as it avoids selling Chrome browser

Tech stocks staged a rebound on Friday, lifting U.S. stocks after an antitrust ruling that said Google would not have to sell its Chrome browser.

At 10 a.m. Eastern Standard Time, the Nasdaq was up 1% and the S&P 500 was up 0.3%. The Dow Jones Industrial Average fell 0.2%.

Long-term U.S. Treasury yields, which had been rising, were down on the day. The 30-year Treasury yield fell 3 basis points (1bp=0.01%) to 4.935%. The 10-year note yield also fell 2.5 basis points to 4.254%.

On the day, data showed U.S. job postings in July fell to the lowest level in 10 months, bolstering expectations for rate cuts and sending bond yields lower while stocks rose.

Alphabet shares jumped 8.2% to 229 dollars as Google shed the risk of having to sell the Chrome web browser. Apple, which sets Google Search as the default on the iPhone, was trading up 2.6% at 235 dollars.

Daniel Ives, a technology analyst at Wedbush Securities, called it "a home run that removes a massive overhang from Google stock" in a Tuesday report. Wedbush Securities said it set a new price target of 245 dollars for Google.

Macy's, which had long faced management difficulties, saw revenue growth improve for the first time in three years after its restructuring efforts and raised its full-year outlook, sending its shares up 19%.

The Bloomberg Magnificent 7 Total Return Index rose 1.7%.

Against a backdrop of weak Treasuries and tariff uncertainty, spot gold rose 0.7% to 3,557.46 dollars per ounce.

Bitcoin was nearly unchanged at 111,408.08 dollars, and Ether rose 1.5% to 4,377.93 dollars.

Kim Jeong-a, guest reporter kja@hankyung.com