Wall Street rises after positive court order on Alphabet

U.S. stock indexes were mostly higher on Wednesday after a court ruling involving Alphabet boosted demand for the technology sector.

Alphabet shares jumped 7.4% to $227.68 after a U.S. court ruled against breaking up Google’s parent company, removing a major regulatory hurdle for the tech giant.

Apple shares also gained 2.4% to $235.12, supported by the same decision that allows Alphabet to continue paying Apple to keep Google as the default search engine on iPhones.

As of 16:58 GMT, the Dow Jones Industrial Average fell 0.4% (175 points) to 45,124. The S&P 500 rose 0.3% (18 points) to 6,434, while the Nasdaq Composite climbed 0.9% (183 points) to 21,460.