Wall Street's Mixed Day Amid Alphabet's Slide and Inflation Hopes

Wall Street's major indexes experienced mixed performance on Wednesday. Alphabet's decline dragged down the Nasdaq, while indications of moderation in inflation spurred hopes for the Federal Reserve's policy easing. Notable movers included Kellanova, which surged post-announcing a $36 billion deal with Mars, and Cardinal Health, which rose following an optimistic profit forecast.

Wall Street's main indexes showed a mixed performance on Wednesday, as Alphabet's slip impacted the Nasdaq, while inflation moderation hopes sustained bets for a forthcoming Federal Reserve policy easing.

Alphabet, the parent company of Google, fell 3.6% following reports that the U.S. Department of Justice may consider breaking up the company. This had a significant impact on the Nasdaq and the communication services sector.

Meanwhile, Kellanova surged 7.7% after Mars announced a $36 billion acquisition deal. Cardinal Health also gained 5.2% after increasing its 2025 profit forecast. On the flip side, Intuit slipped 1.9% after a Morgan Stanley downgrade.

(With inputs from agencies.)