New York, January 18, 2026, 09:43 EST — Market closed
- Alphabet Class C (GOOG) slipped 0.8% to close Friday at $330.34
- Google is pushing to halt certain search antitrust measures as it moves forward with its appeal
- Upcoming highlights: Jan. 22 PCE inflation figures and Alphabet’s earnings call on Feb. 4
Alphabet Inc’s Class C shares (GOOG.O) slipped 0.8% to close at $330.34 on Friday, after moving between $329.03 and $333.69 during the session. The company asked a U.S. judge to halt a court-ordered fix that would compel it to share search data with competitors while it challenges a ruling that deemed its online search monopoly illegal. Google told the court it’s “prepared to do everything short of turning over its data” as the appeal proceeds, even as U.S. regulators consider tougher measures, including a possible Chrome divestiture and ending default-search payments. 1
The filing arrives while Alphabet shares hover near recent peaks, following a sharp rally earlier this month that briefly pushed the company’s valuation to $4 trillion. At that time, Alphabet announced Apple’s upcoming AI models would rely on Google’s Gemini under a multi-year agreement—a key detail that boosted enthusiasm for its AI strategy. 2
This matters now because the remedies battle hits the core of what keeps Google Search dominant: distribution deals that set Google as the default on new devices, and access to data that rivals need to develop competitive products.
Google’s request arrives during a holiday-shortened stretch, with U.S. markets closed Monday and not reopening until Tuesday. That gap often complicates single-stock trades; legal developments and a quiet Monday news flow carry extra weight.
Google’s vice president of regulatory affairs, Lee-Anne Mulholland, pushed back in a blog post against the August 2024 ruling, saying it “ignored the reality that people use Google because they want to, not because they’re forced to.” She warned that mandating Google to share search data and offer “syndication services” — allowing others to display its search results and ads — would “risk Americans’ privacy” and weaken incentives for competitors to develop their own products. 3
Google’s legal troubles go beyond the antitrust battle. On Friday, a U.S. appeals court dismissed the Republican National Committee’s bid to bring back a lawsuit. The suit accused Google of routing the party’s fundraising emails into Gmail users’ spam folders. This case has kept the company caught up in politically charged disputes over how its products manage and display content. 4
Friday’s action was muted across the board. U.S. stocks closed almost unchanged ahead of the long weekend. Ameriprise chief market strategist Anthony Saglimbene noted that “most investors will take that as a win” following a volatile start to the year. 5
Thursday puts GOOG traders on alert with the release of the Personal Consumption Expenditures Price Index (PCE) on Jan. 22, the Fed’s go-to inflation measure. Bond yields and rate expectations often shape the valuation of mega-cap growth stocks like Google. 6
Alphabet is gearing up for its next big event. The company will hold its fourth-quarter and full-year 2025 earnings call on Feb. 4 at 4:30 p.m. Eastern, following the earnings release earlier that day. 7
The downside is clear, though the timing remains uncertain. The judge might deny the pause on data-sharing and syndication rules. On top of that, the Justice Department and states could push for tougher measures on appeal — a move that would increase the chances of major shifts in distribution agreements and Search’s business model.
Investors will be eyeing Tuesday’s open to see if legal troubles begin to overshadow the AI-fueled rally that’s pushed shares up. The key dates ahead are Jan. 22 for PCE data, Feb. 3 when regulators decide on appealing for tougher penalties, and Feb. 4, which brings Alphabet’s earnings and guidance.
