12:21 PM EDT, 09/03/2025 (MT Newswires) -- US equity indexes were mixed as communication services helped the S&P 500 and the Nasdaq Composite outperform in midday trading on Wednesday.

The Nasdaq Composite jumped 1.2% to 21,526.6, with the S&P 500 up 0.5% to 6,446.1. The Dow Jones Industrial Average declined 0.3% to 45,183.3.

The communication services sector was the top gainer, up 3.4%, followed by technology and consumer discretionary. Energy was the steepest decliner, down 1.9%.

In company news, Alphabet (GOOG, GOOGL) shares surged 7.5%, the top gainer on the S&P 500 and the Nasdaq Composite, after multiple price target raises following Tuesday's federal court ruling that the company's Google ( GOOG ) unit will not have to sell its Chrome browser to comply with antitrust laws.

Apple ( AAPL ) shares jumped 3.2%, among the top performers in the S&P 500, the Nasdaq Composite, and the Dow, after a US federal judge let Google ( GOOG ) retain its exclusive contracts related to the distribution of Google Search and Google's ( GOOG ) AI offerings.

US Treasury yields fell, with the 10-year yield down 5.8 basis points to 4.22% and the two-year rate 4.6 basis points lower at 3.61%.

Gold futures advanced 1% to $3,628.1, after scaling a new peak of $3,627.70 earlier in the session.

West Texas Intermediate crude oil futures slumped 1.8% to $64.38 a barrel.