Key Takeaways
- The S&P 500 added 0.5% on Wednesday, Sept. 3, 2025, bolstered by communications and tech stocks, while an uptick in job openings raised concerns about the labor market.
- Shares of Google parent Alphabet notched the top performance in the benchmark index after a judge ruled the company would not have to divest its search engine.
- Dollar Tree warned of near-term pressure from tariffs, and shares of the discount retailer tumbled.
Major U.S. equities indexes finished Wednesday mixed after a report from the Bureau of Labor Statistics showed that job openings in July declined from the previous month, suggesting that tariffs and elevated interest rates have been weighing on the labor market.
The S&P 500 added 0.5% on Wednesday. The Nasdaq gained 1%, buoyed by outperformance from the communication services and technology sectors. The Dow shed about 25 points to end with a loss of less than 0.1%. Read Investopedia’s full coverage of today’s trading here.
Alphabet (GOOGL, GOOG) shares soared more than 9%, outpacing all other S&P 500 stocks Wednesday to reaching an all-time high. The push higher came after a federal court ruled that the tech giant will not be required to sell off its Google search engine as the result of an antitrust lawsuit. The decision allows Alphabet to continue paying Apple (AAPL) for making Google the default search option on its iPhones and other devices. Analysts at Wedbush and JPMorgan lifted their price targets on Alphabet stock following the decision. Apple shares rose 3.8%.
Campbell’s (CPB) reported better-than-expected sales and adjusted profits for its fiscal fourth quarter, and shares of the packaged food company jumped 7.2%. CEO Mick Beekhuizen said the maker of soups and sauces benefitted from cautious consumer spending trends encouraging people to explore more eat-at-home options, bolstering Campbell’s meals and beverages business. Price increases also contributed to the results.
Western Digital (WDC) shares gained 5% after Morgan Stanley called the data storage company’s stock a “top pick” and raised its price target. Analysts emphasized their positive view on Western Digital’s technology roadmap and a favorable outlook for the hard-disk drive end market. Morgan Stanley also said Western Digital trades at a discount versus its peers and highlighted the company’s intentions to ramp up share buybacks.
Although Dollar Tree (DLTR) posted better-than-expected sales and profits for the second quarter, the discount retailer said that tariff-related costs would pressure near-term earnings. The company mentioned mitigation efforts including negotiations with suppliers and discontinuing items that are not economical, but its guidance for adjusted profit in the current quarter came in below consensus forecasts. Dollar Tree shares plunged 8.4%, suffering the heaviest decline in the S&P 500.
Shares of medical device company Intuitive Surgical (ISRG) fell some 6% after executives spoke at an investor conference about potential tariff impacts. The maker of the da Vinci robotic surgical system suggested that tariff headwinds could intensify over the coming year but said it will hold off on any mitigation moves until there is more visibility into the tariff landscape.
Shares of life sciences and diagnostics company Revvity (RVTY) fell 5.1% after several investment research firms lowered their price targets on the stock. Although the company reported better-than-expected sales and profit in its most recent earnings report at the end of July, analysts cited challenges facing Revvity’s ImmunoDx business in China, with changes to reimbursement policies in the country potentially weighing on growth.
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