Dow Jumps Over 150 Points; Adobe Shares Fall After Q2 Results

U.S. stocks traded mixed this morning, with the Dow Jones index gaining over 150 points on Friday.

Following the market opening Friday, the Dow traded up 0.33% to 51,016.60 while the NASDAQ fell 0.13% to 25,777.22. The S&P 500 also rose, gaining, 0.11% to 7,402.62.

Leading and Lagging Sectors

Materials shares jumped by 1% on Friday.

In trading on Friday, consumer discretionary stocks fell by 0.7%.

Top Headline

Shares of Adobe Inc (NASDAQ:ADBE) dipped over 8% on Friday after the company posted upbeat financial results for the second quarter and raised its guidance for the full year after the closing bell on Thursday, according to data from Benzinga Pro.

Adobe announced that CFO and Executive VP Dan Durn will depart the company on June 15. Steve Day, Senior VP of Corporate Finance and CFO of Adobe's Customer Experience Orchestration business unit, will serve as interim CFO.

Equities Trading UP
           

• Park Ha Biological Technology Co Ltd (NASDAQ:BYAH) shares shot up 183% to $2.97. Park Ha Biological Technology announced a strategic partnership with Star Plus Action to combine AI and Beauty Products.
• Shares of VS Media Holdings Ltd (NASDAQ:VSME) got a boost, surging 76% to $1.96.
• Big Tree Cloud Holdings Ltd (NASDAQ:DSY) shares were also up, gaining 57% to $6.10.

Equities Trading DOWN

• Pop Culture Group Co Ltd (NASDAQ:CPOP) shares dropped 76% to $0.25 after the Chinese pop culture company announced the pricing of an $8 million registered direct offering that will significantly increase its share count.
• Shares of Smith Micro Software Inc (NASDAQ:SMSI) were down 36% to $2.92.
• Sleep Number Corp (NASDAQ:SMSI) was down, falling 33% to $0.44.

Commodities

In commodity news, oil traded down 2.9% to $85.13 while gold traded up 2.4% at $4,212.00.

Silver traded down 4.1% to $66.60 on Friday, while copper rose 1.4% to $6.3625.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.1%, while Spain's IBEX 35 Index rose 1.7%. London's FTSE 100 rose 0.9%, Germany's DAX gained 1.1%, while France's CAC 40 rose 1.4%.

Asia Pacific Markets

Asian markets closed higher on Friday, with Japan's Nikkei 225 gaining 2.81%, Hong Kong's Hang Seng Index rising 1.93%, China's Shanghai Composite rising 1.12% and India's BSE Sensex climbing 2.30%.

Economics

The Michigan consumer sentiment index will be released today.

Photo via Shutterstock