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U.S. futures for stocks are down after tech shares helped the Nasdaq cross the 20,000 mark for the first. Adobe (ADBE), the maker of Photoshop, is also sinking its stock in premarket trade after it reported weak guidance. Shares in Alphabet (GOOGL), Tesla (TSLA), and Alphabet are all rising after yesterday’s record highs. November wholesale inflation is likely to remain stable after yesterday’s consumer inflation numbers showed a rise in expected price pressures. Investors will be watching the earnings Investors should be aware of the following today.
1. US Stock Futures Drop After Nasdaq Hits 20,000 For First Time
U.S. futures for stocks are down after technology shares helped to push Nasdaq above the 20,000-level level. Nasdaq futures are pointing down 0.4%, while those of the S&P 500 and the Dow Jones Industrial Average also are lower. Investors will be watching the weekly jobless claims, November wholesale inflation figures as well as Broadcom’s and Costco Wholesale’s earnings reports. Bitcoin (BTCUSD), while trading lower, is still well above $100,000. Crude futures and gold are also on the decline. Treasury yields are slightly up at 4.3%.
2. Adobe stock tumbles after disappointing revenue outlook
Adobe’s (ADBE), a graphics software company, has issued revenue forecasts that are below analyst expectations. In its 2025 forecast, the company predicted revenue between $23.30 and $23.55 billion. That is lower than Visible Alpha’s consensus, which was $23.77. Its first-quarter revenues also missed expectations. Adobe’s fiscal fourth-quarter revenue was $5.61 Billion, which is up by 11% from the year before, with a profit of $3.79 per shares.
3. Google and Tesla stocks rise further after hitting all-time highs
Google Alphabet’s (GOOGL), and Tesla (TSLA), both of which are owned by Alphabet, continue to rise after reaching new highs yesterday. Google’s shares soared by over 5% as the tech giant announced its latest AI model Gemini 2.0 and investors were encouraged to be optimistic about regulatory appointments seen favorable for the company. Tesla shares rose almost 6% to $424.77—their first record high since November 2021—as analysts provided positive commentary on the EV maker’s push into self-driving cars and robotics.
4. The November wholesale inflation data is expected to remain stable, according to economists
Today’s 8:30 a.m. The Producer Price Index will be released at 8:30 a.m. ET. This index provides market observers with an overview of wholesale inflation, which is often reflected in consumer prices. The Wall Street Journal, Dow Jones Newswires and other economists polled by them expect the November PPI rate to be 0.2%. The monthly “core” PPI is expected to be slightly lower. This report comes after the release on Tuesday of Consumer Price Index, which indicated that inflation was slightly higher than expected in November.
5. Broadcom and Costco Wholesale will Report Results after Bell
Broadcom’s (AVGO), stock is trading 0.5% lower before the earnings announcement for its fourth quarter. VisibleAlpha’s tracker analysts predict Broadcom to post a profit for the quarter of $3.53billion or 76c/share on revenue of $14.06 billion. This is a 51% increase year over year. Costco Wholesale, whose stock is ticking up, will also report its results following the closing. Analysts expect a first-quarter profit of $1.69billion, or 3.81 cents per share on revenues of $62,06 billion. This is up from $1.59billion, or 3.58 cents per share on last year’s $57.80billion in revenue.
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