Dow Tumbles Over 1%; Adobe Earnings Top Views

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 1% on Friday.

Following the market opening Friday, the Dow traded down 1.14% to 4 42,477.07 while the NASDAQ dipped 0.77% to 19,512.03. The S&P 500 also fell, dropping, 0.66% to 6,005.37.

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Leading and Lagging Sectors

Energy shares jumped by 1.2% on Friday.

In trading on Friday, financial stocks fell by 1.7%.

Top Headline

Adobe Inc. (NASDAQ:ADBE) reported better-than-expected second-quarter financial results and raised its FY25 guidance on Thursday.

The company reported second-quarter revenue of $5.87 billion, beating analyst estimates of $5.79 billion, according to Benzinga Pro. The company reported second-quarter adjusted earnings of $5.06 per share, surpassing the estimated $4.96 per share

Equities Trading UP
           

• Robin Energy Ltd. (NASDAQ:RBNE) shares shot up 285% to $12.90.
• Shares of Houston American Energy Corp. (NYSE:HUSA) got a boost, surging 97% to $13.86 after gaining over 30% on Thursday.
• U.S. Energy Corp. (NASDAQ:USEG) shares were also up, gaining 70% to $2.42 after adding 3% on Thursday.

Equities Trading DOWN

• SharpLink Gaming, Inc. (NASDAQ:SBET) shares dropped 67% to $10.56. SharpLink Gaming, announced the strategic acquisition of 176,270.69 ETH for an aggregate purchase price of $462,947,816 (inclusive of fees and expenses), at an average acquisition price of $2,626 per ETH (inclusive of fees and expenses).
• Shares of Senmiao Technology Limited (NASDAQ:AIHS) were down 39% to $0.63. Senmiao Technology on Friday announced a strategic partnership with Changsha Yipeng Information Technology Co., Ltd. to develop an AI-backed data management system to improve efficiency of online ride-hailing management platforms.
• Chanson International Holding (NASDAQ:CHSN) was down, falling 27% to $0.4015 as the company announced the pricing of $8 million public offering.

Commodities

In commodity news, oil traded up 8.1% to $73.59 while gold traded up 1.6% at $3,457.20.

Silver traded down 0.1% to $36.250 on Friday, while copper fell 1.8% to $4.7475.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.8%, while Spain's IBEX 35 Index fell 1.5%. London's FTSE 100 declined 0.2%, Germany's DAX 40 fell 1.4% and France's CAC 40 dipped 1% during the session.

Asia Pacific Markets

Asian markets closed lower on Friday, with Japan's Nikkei falling 0.89%, Hong Kong's Hang Seng Index dipping 0.59%, China's Shanghai Composite declining 0.75% and India's BSE Sensex dipping 0.70%.

Economics

The Michigan Consumer Sentiment index will be released today.

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