Small results on Wall Street, software group Adobe excels

The Dow Jones index closed down 0.2 percent at 38,589.16 points. The broad S&P 500 fell slightly to 5,431.60 points and the Nasdaq technology indicator gained 0.1 percent to 17,688.88 points. The S&P and Nasdaq tightened their closing records for the fourth consecutive time on Thursday, thanks to strong price gains from technology and chip companies.

The University of Michigan announced in a preliminary estimate that consumer confidence in the United States fell this month to the lowest level in seven months due to household concerns about inflation and purchasing power. The drop was unexpected because, on average, economists expected an increase. In addition to concerns about inflation and personal finances, Americans have also become more negative about economic conditions.

Adobe

Adobe rose 14.5 percent. According to CEO Shantanu Narayen, the company behind Photoshop achieved record revenue thanks to strong growth in its cloud activities. Adobe is also attracting more customers with its applications in the field of artificial intelligence (AI).

Tesla lost 2.4 percent. The majority of the electric car maker’s shareholders have approved the $56 billion mega reward for CEO Elon Musk. It is the largest bonus ever received by a director of an American company. Tesla rose almost 3 percent the day before, after Musk had already announced before the shareholder meeting that a majority would vote in favor of his bonus.

RH

Home interiors seller RH fell more than 17 per cent after figures and forecasts did not go down well with traders.

The euro was worth $1.0704, compared to $1.0698 at the close in Europe. A barrel of US oil costs 0.2 percent less, at $78.48 per barrel. The price of Brent crude oil also fell 0.2 percent to $82.62 per barrel.

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