Morning Movers: Macy’s gains after quarterly results

Markets look to open on a cautiously optimistic note following a turbulent start to September as S&P and Nasdaq futures received a lift from a landmark court ruling in Alphabet’s favor. The decision, which allows Google to retain control of its Chrome browser and maintain key distribution partnerships, sparked a surge in its shares and buoyed those of Apple.

Meanwhile, precious metals continue their safe-haven march. Gold pushed past $3,500 an ounce, reflecting heightened geopolitical tension as China’s President Xi delivered pointed remarks alongside Russian and North Korean leadership, adding to the sense of global unease.

With the closely watched nonfarm payrolls report scheduled for Friday, market pricing now reflects a roughly 91% likelihood of a Fed rate cut in September.

In pre-market trading, S&P 500 futures rose 0.36%, Nasdaq futures rose 0.67% and Dow futures fell 0.22%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly, and subscribe to the Fly By on YouTube.

HIGHER –

• Google (GOOGL) and Apple (AAPL) up 7% and 4%, respectively, after a federal judge ruled that Google will not have to sell its Chrome browser and preserved Google’s ability to maintain its search distribution position through Traffic Acquisition Cost payments to partners

UP AFTER EARNINGS –

• Macy’s (M) up 13%
• REV Group (REVG) up 10%
• Campbell’s (CPB) up 2%

DOWN AFTER EARNINGS –

• Dollar Tree (DLTR) down 6%
• Sprinklr (CXM) down 3%
• J.Jill (JILL) down 2%