Yahoo Finance Yahoo Finance Sign in Search query Search for news or symbols LIVE Updated 20 mins ago Yahoo Finance Stock market today: Dow, S&P 500, Nasdaq futures edge lower with rate cuts front of mind Karen Friar · Editor Updated Thu, December 12, 2024 at 8:01 PM GMT+6 2 min read In This Article: YM=F -0.09% ^GSPC +0.82% NQ=F -0.47% Earn Money Today with YeloSurvey [Join Now] Start Surveys Ad US stock futures pulled back on Thursday as fresh inflation data cast doubt on investor confidence that the Federal Reserve will cut interest rates next week. Dow Jones Industrial Average futures (YM=F) edged down 0.1%, while S&P 500 futures (ES=F) slipped roughly 0.2%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) fell 0.4% to lead the way lower. Yahoo Finance Yahoo Finance Sign in Search query Search for news or symbols LIVE Updated 21 mins ago Yahoo Finance Stock market today: Dow, S&P 500, Nasdaq futures edge lower with rate cuts front of mind Karen Friar · Editor Updated Thu, December 12, 2024 at 8:01 PM GMT+6 2 min read In This Article: YM=F -0.13% ^GSPC +0.82% NQ=F -0.54% Munshiganj Sadar: Earn Money with Surveys [Join Now] Start Surveys Ad US stock futures pulled back on Thursday as fresh inflation data cast doubt on investor confidence that the Federal Reserve will cut interest rates next week. Dow Jones Industrial Average futures (YM=F) edged down 0.1%, while S&P 500 futures (ES=F) slipped roughly 0.2%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) fell 0.4% to lead the way lower. A downbeat revenue forecast from Adobe (ADBE) helped dampen the mood, revealing the Photoshop maker's struggle for a payoff from its AI investments. Shares in the software maker sank nearly 12% in pre-market. Investors are set to get the next piece of the inflation puzzle — an update on wholesale prices — after the latest consumer inflation data invigorated stocks on Wednesday, lifting the Nasdaq Composite (^IXIC) above 20,000 for the first time. The in-line consumer price index reading cleared one of the last remaining risks to easing by the Fed in December. That boosted bets on a quarter-point rate cut in December to a near 99% chance, per the CME FedWatch tool. DJI - Delayed Quote • USD Dow Jones Industrial Average (^DJI) Follow 44,148.56 -99.27 (-0.22%) At close: 4:49:40 PM EST ^DJI ^IXIC ^GSPC DT 12/11 15:10 Close 44,212.97 Open 44,211.02 High 44,218.24 Low 44,204.43 ^IXIC 20,046.26 ^GSPC 6,089.06 1D 5D 1M 3M 6M YTD 1Y 5Y All The November producer price index released on Thursday morning came in hotter than expected, rising 0.4% from the previous month. Economists had been expecting an increase of 0.2%. Excluding food and energy prices, the year-over-year Producer Price Index rose 3.4% versus expectations of 3.2%. The chances of the Fed holding rates steady in January are also in focus, after several officials voiced a cautious stance on policy. Elsewhere in central banks, the Swiss National Bank unexpectedly lowered its key rate by 0.5%, its biggest cut in almost 10 years. The move set the stage for the European Central Bank decision later Thursday, expected to deliver the fourth rate cut this year as the region's economy struggles. LIVE 4 updates Ines Ferré 29 mins ago Ines Ferré Wholesale prices rise more than expected in November Stock market futures edged lower after data released this morning showed wholesale prices rose more than expected in November, putting a question mark over whether Federal Reserve officials will want to cut interest rates at their policy meeting next week. The Producer Price Index (PPI) rose 0.4% from the prior month, compared to expectations of 0.2%. Whole sale prices excluding volatile food and energy prices increased 3.4% year-over-year, versus expectations of 3.2%. Federal Reserve officials want to see inflation slow down as they continue their easing cycle. The Federal Reserve Open Market Committee will convene on December 18 for its last rate setting meeting of the year. Laura Bratton 56 mins ago Laura Bratton Adobe drops 11% premarket on weak outlook Adobe (ADBE) shares fell more than 11% before the market open Thursday after the company issues a weak guidance for its 2025 fiscal year. NasdaqGS - Nasdaq Real Time Price • USD Adobe Inc. (ADBE) Follow 549.93 +2.88 +(0.53%) At close: 4:00:01 PM EST 491.13 -58.80 (-10.69%) Pre-Market: 9:24:16 AM EST 1D 5D 1M 3M 6M YTD 1Y 5Y All In its earnings Wednesday, Adobe said it expects revenue in the range of $23.3 billion to $23.6 billion and adjusted earnings per share between $20.20 and $20.50, according to Bloomberg consensus estimates.. Wall Street analysts had expected the company to guide for an annual revenue of $23.8 billion and adjusted EPS of $20.52, Bloomberg data showed. The worse-than-anticipated outlook stoked investor fears that AI will disrupt Adobe's business. TD Cowen downgraded the stock to a Hold rating Thursday morning. Still, Wall Street analysts largely maintained their Buy ratings on the stock. Some 34 analysts tracked by Bloomberg recommend buying Adobe shares.