U.S. Stock Futures Dip Despite Nasdaq Milestone

U.S. stock futures are trending downward, with Nasdaq futures indicating a decline of 0.4%. This comes on the heels of the Nasdaq's historic surge past 20,000, largely attributed to the strong performance of technology stocks. Investors are also focusing on key economic indicators, including weekly initial jobless claims and wholesale inflation data set for release today. Meanwhile, Bitcoin is holding above the $100,000 threshold, albeit trading slightly lower, while gold and crude oil futures are also in the red. The yield on the 10-year Treasury has risen slightly to 4.3%, reflecting a cautious mood in the markets.

Adobe's Stock Plummets on Disappointing Forecast

In a shocking turn of events, Adobe (ADBE) shares are plummeting by 11% in premarket trading. The famed software giant issued an underwhelming revenue forecast, projecting 2025 revenue between $23.30 billion to $23.55 billion—falling short of the consensus estimate of $23.77 billion. Despite a strong fiscal fourth quarter where Adobe exceeded projections with a revenue of $5.61 billion—up 11% year-on-year—investors are clearly reacting to the lower forecasts with disappointment.

Tech Titans Google and Tesla Surge to New Heights

Investors are buzzing over the continued rise in shares of tech giants Alphabet (GOOGL) and Tesla (TSLA), both of which soared to all-time highs in the previous trading session. Google’s stock jumped over 5%, fueled by the unveiling of its cutting-edge artificial intelligence model, Gemini 2.0, and positive regulatory news. Meanwhile, Tesla shares have seen a remarkable rise of nearly 6%, reaching $424.77, their highest level since November 2021, thanks to favorable analyst outlooks regarding the company’s advancements in autonomous driving and robotics.

Analysts Predict Steady Wholesale Inflation Figures

Today at 8:30 a.m. ET, the Producer Price Index (PPI) will be released, shedding light on wholesale-level inflation, which often gives clues about future consumer price movements. Economists expect inflation to hold steady at a monthly rate of 0.2%, while the core PPI is predicted to slightly decrease. This report comes right after the Consumer Price Index (CPI) revealed an uptick in inflation figures for November, reinforcing the notion of ongoing price pressures in the economy.

Earnings Reports from Broadcom and Costco on the Horizon

Investors are eagerly awaiting earning reports from tech giant Broadcom (AVGO) and retail powerhouse Costco Wholesale (COST) after the market closes today. These reports could provide critical insights into the health of the tech and retail sectors, which have been pivotal in driving market trends. As earnings season progresses, market watchers will seek clues about corporate performance and economic outlooks in light of rising inflation concerns.