Adobe Stock Plunges on Light Outlook

43 minutes ago

Adobe (ADBE) shares tumbled 9% Friday morning after the digital multimedia software maker issued a disappointing current-quarter outlook that overshadowed better-than-expected results for its fiscal third quarter.

The stock has broken down below the lower trendline of an ascending triangle pattern, a move that could start a new trend lower.

Investors should watch important support levels on Adobe's chart at $500, $439, $386, and $333, while keeping an eye on the $550 area during a countertrend move.

Read the full technical analysis piece here.

–Timothy Smith

Major Indexes Approaching End-August Levels

2 hr 20 min ago

Major U.S. stock indexes have recovered almost all of the ground lost during the early-September swoon that generated the worst weekly losses in more than a year.

Heading into Friday's session, the Nasdaq Composite and S&P 500, which are riding four-session winnings streaks, are less than 1% below their end-August levels. The Dow Jones Industrial Average, which has finished higher in three of the last four sessions, is 1.1% below where it closed last month.

The S&P 500 and Nasdaq are up 3.5% and 5.3%, respectively, this week, while the Dow has tacked on 1.9%.

Stock Futures Point to Higher Open for Major Indexes

3 hr 20 min ago

Futures tied to the Dow Jones Industrial Average were up 0.1%

S&P 500 futures were up 0.2%.

Nasdaq 100 futures were up less than 0.1%.

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