Dow Jones Industrial Average left behind as tech stocks rise

• The Dow Jones continued to grapple with the 45,000 handle on Wednesday.
• Tech stocks gained ground after Google "won" an antitrust case that lets it keep its Chrome division.
• JOLTS Job Openings gave some investors cause for pause after an unexpected dip.

The Dow Jones Industrial Average (DJIA) missed the bullish bus on Wednesday, lagging its index peers and slumping over 250 points. The Dow is struggling to hold above the 45,000 price handle as economic data concerns crimp "real economy" stocks, while tech stocks see fresh highs on a not-worst-case ruling on Google's antitrust lawsuit that threatened to carve off the company's Chrome browser and Android mobile operating system divisions.

JOLTS Job Openings fell to 7.181M in July, the lowest pace of job availability since September of 2024, reigniting economic growth concerns. Firms continue to hammer down on their pace of hiring in the face of ongoing trade tariff turmoil, placing even further pressure on Friday's upcoming Nonfarm Payrolls (NFP) report.

It's a Google world, and we're all just living in it

Google parent Alphabet (GOOGL) rallied hard on Wednesday, dragging other tech stocks higher alongside it after a US federal judge ruled partly in Alphabet's favor in a high-profile antitrust case that alleges that Alphabet's planet-wide internet platforms represent a market-controlling monopoly. Alphabet promised courts that its complete and utter domination of consumer internet access through its Chrome browser platform would not constrain consumer choice. Alphabet will also be allowed to continue handing out billions of dollars to remain the default browser in Apple (AAPL) iPhones. Alphabet will also maintain ownership and control of its Android mobile operating system that exists on functionally every smartphone that isn't an Apple product.

NFP net job gains will dominate this week's general market water supply. The Federal Reserve (Fed) is poised to cut interest rates on September 17, driven by its dual mandate to both stimulate job creation and control inflation. A recent bout of softening US labor figures has investor hopes riding high that the Fed will brush off a recent uptick in inflation pressure and deliver a rate cut in a few weeks to prop up US employment numbers that took a sharp downward turn heading into the middle of the year.

Dow Jones daily chart