S&P 500, Nasdaq 100 Bulls Hold on as US Considers a Breakup of Google

Nasdaq 100 News

S&P 500, Nasdaq 100 Bulls Hold on as US Considers a Breakup of Google
S&P 500Alphabet Inc Class AAlphabet Inc Class C
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Stocks Analysis by MarketPulse (Zain Vawda) covering: Nasdaq 100, S&P 500, Alphabet Inc Class A, Alphabet Inc Class C. Read MarketPulse (Zain Vawda)'s latest article on Investing.com

The US Justice Department may force Google to divest parts of its business due to antitrust concerns.

Following a disappointing update from the National Reform Commission in China, US-listed Chinese stocks like Alibaba, PDD Holdings, and JD.com experienced declines. American authorities are looking at Google’s Chrome browser and Android OS that the US says is used to maintain an illegal monopoly in online searches. In what is a landmark case, a judge found in August that Google, which processes around 90% of US internet searches, had effectively built an illegal monopoly. The Justice Department has proposed a few remedies, most of which will likely affect Google’s revenue.

In other news Chinese stocks listed in the US fell today as markets digested what many considered a disappointing update from the National Reform Commission in China. This saw Alibaba Group (NYSE:From a technical standpoint, the S&P is trading at a key resistance area where the most recent retracement began. Yesterday's bullish engulfing candle does hint at buying pressure.

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