Adobe wins on Wall Street

» Updated: July 16 2024

» Published: June 14 2024

Adobe wins on Wall Street
Photo: David Becker/AP-TT

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The New York Stock Exchange's leading index moved very little on the last day of the trading week, unlike the leading exchanges in Europe. For example, the CAC index in Paris fell 2.7 per cent.

During the day, a preliminary report was presented for the University of Michigan's index for consumer confidence, which showed that confidence had not improved in June – contrary to what analysts had predicted.

Against the trend on Wall Street, the software company Adobe went against the flow, reporting higher profits and greater turnover than expected in the previous quarter. The share price soared 14.5 per cent.

Electric car manufacturer Tesla, which rose sharply on Thursday, fell back 2.4 per cent.

The broad S&P 500 index closed unchanged, the Dow Jones industrial index fell 0.2 per cent, and the technology-heavy Nasdaq composite index rose 0.1 per cent. Calculated over the entire past week, the S&P 500 rose 1.7 per cent, while the Dow Jones fell 0.5 per cent and the Nasdaq increased 3.5 per cent.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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