Stocks Mixed as Hot Inflation Data Offsets Solid Earnings from Adobe
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Dow Jones futures rose slightly early Friday, along with S&P 500 futures and Nasdaq futures. Adobe (ADBE) headlined earnings late Thursday.
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The stock market rally retreated as another hot inflation report sent Treasury yields sharply higher. The major indexes suffered modest losses.
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Microsoft stock flashed a buy signal Thursday. So did Google stock, with some caveats. Arista Networks (ANET), Ares Management (ARES) and HubSpot (HUBS) are close to forging new bases.
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Adobe earnings slightly beat views but the software giant guided just below consensus for current-quarter revenue. ADBE stock sold off overnight.
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Tesla stock is breaking down, tumbling to a 10-month low. Shares are down 34.6% in 2024, the worst performer on the S&P 500.