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Adobe's Umsatz und Gewinn stiegen im letzten Quartal um einen soliden Tempo. Doch der Abgang eines wichtigen Exekutivs und die Diskussion über ein neues Freemium-Angebot haben Aktionäre besorgt gemacht.10 Aktien, die besser als Adobe sind ›

Adobe-Aktien (NASDAQ: ADBE) fielen am Freitag, nachdem der Anbieter von Kreativsoftware seine finanziellen Ergebnisse nicht ausreichten, um Investoren zu beruhigen, die sich über den Abgang eines Exekutivs und wettbewerbsbedingte Drucke Sorgen machen.

Bildquelle: The Motley Fool.

Der Bedarf an AI-gesteuerten Werkzeugen steigt

Adobe's Umsatz stieg um 13% im Vergleich zum Vorjahr auf 6,62 Milliarden US-Dollar in seinem zweiten Quartal. CEO Shantanu Narayen sagte, dass dieser Wachstum durch "starke AI-gesteuerte Nachfrage" getrieben wurde. Adobe's 'AI-first' jährliche wiederkehrende Einnahmen (ARR) verdreifachten sich auf mehr als 500 Millionen US-Dollar.

'Die Nachfrage ist unerhört groß, um die Kombination von Inhaltskonsum und -schaffung auf verschiedenen Oberflächen', sagte Narayen während einer Konferenz mit Analysten.

Insgesamt stieg Adobe's angepasster Nettogewinn um 10,5% auf 2,4 Milliarden US-Dollar. Seine angepassten Earnings pro Aktie, gestützt durch Aktienrückkäufe, stiegen fast 18% auf 5,96 US-Dollar.

Diese Ergebnisse führten dazu, dass Adobe seine Vorhersagen für das gesamte Jahr erhöhte. Die Führung erwartet nun einen Umsatz von etwa 26,55 Milliarden US-Dollar und angepasste Gewinne von 24,35 bis 24,45 US-Dollar pro Aktie.

Führungswechsel und intensivierter Wettbewerb

Investoren waren jedoch nicht erfreut, als sie hörten, dass der Chief Financial Officer Dan Durn für bessere Chancen bei dem Halbleitergiganten Marvell Technology wechselte. Durns Abgang kommt nur drei Monate nach Narayens Ankündigung, dass er als CEO zurücktreten wird, sobald ein Nachfolger gefunden ist.

Der Abgang zweier der Top-Exekutiven in einem so kurzen Zeitraum ist für Investoren ein rotes Tuch, die bereits besorgt waren über Adobes Fähigkeit, neue AI-gesteuerte Konkurrenten abzuwehren.

Konkurrenten wie Blackmagic Design, das den beliebten Video- und Farbkorrektursoftware DaVinci Resolve anbietet, haben Marktanteile gewonnen, da sie Freemium-Businessmodelle nutzen. Neue Nutzer können diese Software kostenlos nutzen und dann für fortgeschrittene Funktionen zahlen.

In Reaktion auf diese Bedrohungen sagte Adobe, es würde auch ein Freemium-Angebot starten. Doch während dies die neuen-Nutzer-Aquisition-Verdienste steigern sollte, wird es Adobes kurzfristige Gewinne unter Druck setzen.

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Michael Burry hat am Freitag auf seinem Substack hervorgehoben, dass der Aktienmarkt weiterhin die Aktien von großen, etablierten Unternehmen mit erheblichen Einnahmen, wenig Schulden und großen Rückkäufen bestraft, was sich positiv auf den Intrinsic Value pro Aktie auswirkt. Er fügte seinen Positionen in Adobe (ADBE), Alibaba (BABA), PayPal (PYPL) und Veeva Systems (VEEV) hinzu.

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Die Oracle-Aktien waren nach den sehr starken Quartalszahlen, die ein beeindruckendes Cloud-Momentum und eine stabile Kunden-Diversifizierung außerhalb von OpenAI in ihrem AI-zentrischen Rückstand zeigten, abgesunken. Der negative Marktreaktion spiegelte sich in der ständig steigenden Kapitalintensität wider, mit einer erhöhten Capex für das Jahr, die Oracle's freie Cashflows weiter in die negative Zone drängt. Oracle plant, etwa 40 Milliarden Dollar zu finanzieren, um seine Capex dieses Jahr durch eine Kombination aus Schulden und Aktieninstrumenten, wobei sich der Dilution-Risiko zu einem größeren Risiko für den Aktienkurs entwickelt.

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Die Dow Jones-Index stieg am Freitag aufgrund der Hoffnungen auf einen Friedensvertrag zwischen den USA und dem Iran. Die SpaceX-Aktie stieg bei ihrem Börsendebüt, während die Aktien eines Satellitenherstellers sanken.

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Adobe earnings beat Wall Street estimates, boosted by strong demand for AI products. It wasn’t enough for the stock.

Continue Reading

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The S&P 500 Index ($SPX) (SPY) is up +0.29%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.37%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.41%.  June E-mini S&P futures (ESM26) are up +0.28%, and June E-mini Nasdaq futures (NQM26) are up +0.39%.

Stocks are seeing support again today as reports circulate that a preliminary US-Iran peace agreement could be signed as early as this weekend, ending the military hostilities, reopening the Strait of Hormuz, and ending the US blockade on Iran and its oil exports.  Negotiations would then begin on the more intractable issues, such as sanctions against Iran, the release of $24 billion of frozen Iranian assets, and the resolution of Iranian nuclear issues.  Iran claimed it would continue to exert control over the Strait of Hormuz even after a new ceasefire agreement.Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.

Stocks surged on Thursday after President Trump said he canceled planned military strikes against Iran, citing "discussions" with Iranian leadership.  He added that a "time and place of the signing" of a negotiated end to the war would "be announced shortly," and the US naval blockade of the Strait of Hormuz "will remain in full force and effect until this transaction is finalized."

WTI crude oil prices (CLN26) are down more than -1% today on hopes for a near-term US-Iran agreement and a reopening of the Strait of Hormuz.

Tech stocks are being undercut today by weakness in chip and software stocks.

In some positive news for stocks, the University of Michigan’s US Consumer Sentiment index rose +4.1 to 48.9, which was stronger than expectations for a rise to 46.0.

The markets are waiting to see how SpaceX will open for trading today after its IPO on Thursday.  Nasdaq says the shares will be released for quotation at 9:50 AM ET today, but it may take some time for regular trading to begin.

The markets are discounting a 4% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.

Overseas stock markets are higher today.  The Euro Stoxx 50 is up +1.4%.  China's Shanghai Composite closed up +1.12%.  Japan’s Nikkei-225 Stock Average closed up +2.81%.

Interest Rates

September 10-year T-notes (ZNU6) today are down -8 ticks, and the 10-year T-note yield is up +3.2 bp at 4.493%.  T-notes are seeing weakness today as the 10-year inflation expectations rate is up +0.7 bp at 2.313%, despite today’s drop in oil prices.  The T-note market remains worried about inflation pressures, which are likely to remain sticky even after the Strait of Hormuz reopens.  The T-note market has some carry-over weakness from Thursday, when demand was lackluster for the Treasury’s 30-year bond auction.

European government bond yields are trading lower.  The 10-year German Bund yield is down -1.6 bp at 3.015%.  The 10-year UK gilt yield is down -4.2 bp at 4.863%.

On Thursday, the ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth." Swaps are discounting a 37% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.

US Stock Movers

Space Exploration Technologies Corp (SPCX), doing business as SpaceX, is expected to begin trading this morning after raising a record $75 billion in its IPO on Thursday.  The stock is expected to open substantially above its IPO price of $135.  The IPO was more than four times oversubscribed, indicating strong demand for the stock.  A strong showing by SpaceX today would be positive for investor sentiment and could help the upcoming IPOs for AI companies Anthropic and OpenAI.

Space-linked stocks are trading lower despite the SpaceX debut, with EchoStar (SATS) down more than -6%, and Rocket Lab (RKLB) down more than -5%.

Chip stocks are trading mostly lower today after Thursday’s sharp rally, with the iShares Semiconductor ETF (SOXX) trading slightly lower after Thursday’s rally of +8.39%.  Thursday’s rally was sparked by signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending.  Chip leaders today include AMD (AMD) and Intel (INTC), with gains of more than +3%.

Adobe (ADBE) is down more than -8% after CFO Dan Durn said he would leave the company on June 15, following news earlier this year that Adobe’s CEO would resign.  The Adobe news put continued downward pressure on software stocks, which were undercut on Thursday by negative earnings news from Oracle (ORCL).  ServiceNow (NOW), Atlassian (TEAM), and Workday (WDAY) are all trading down by more than -3%.

Airline stocks are seeing continued support after oil prices today moved lower, adding to Thursday’s decline.  United Airlines (UAL) and Southwest Airlines (LUV) are trading up more than +0.5%.

Energy stocks and service providers are mixed despite today’s continued slump in oil prices.  Baker Hughes is down more than -1%, but Occidental Petroleum (OXY) and Marathon Petroleum (MPC) are up more than +1%.

Astera Labs (ALAB), CoreWeave (CRWV), Nebius Group (NBIS), Rocket Lab (RKLB), and Teradyn (TER) are seeing support today after Nasdaq announced on Thursday that those stocks will join the Nasdaq 100 Index, effective at the market open on June 22.  Stocks leaving the Nasdaq 100 include Charter Communications (CHTR), Cognizant Technology Solutions (CTSH), Insmed (INSM), Verisk Analytics (VRSK), and Zscaler (ZS).

Travelers (TRV) is down more than -1% after Barclays cut its rating on the stock to underweight from equal-weight due to a downbeat outlook for profits in the property and casualty sector.

Earnings Reports(6/12/2026)

America's Car-Mart Inc/TX (CRMT), Atlantic International Corp (ATLN), Friedman Industries Inc (FRD), Liberty Live Holdings Inc (LLYVA), Pioneer Bancorp Inc/NY (PBFS), Richtech Robotics Inc (RR), Seneca Foods Corp (SENEB), Whitestone REIT (WSR). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

More news from Barchart

S&P Futures Climb as U.S.-Iran Peace Deal Nears, SpaceX Debut in FocusStocks Climb Before the Open on U.S.-Iran Peace Hopes, PPI Data in FocusNasdaq Futures Plunge as Tech Selloff Deepens, U.S. Inflation Data in FocusStocks Set to Extend Rebound Amid AI Dip-Buying

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The S&P 500 Index ($SPX) (SPY) is up +0.58%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.91%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.64%.  June E-mini S&P futures (ESM26) are up +0.70%, and June E-mini Nasdaq futures (NQM26) are up +0.79%.

Stocks are seeing support again today as reports circulate that an interim US-Iran peace agreement could be signed as early as this weekend, ending the military hostilities, reopening the Strait of Hormuz, and ending the US blockade on Iran and its oil exports.  Negotiations would then begin on the more intractable issues, such as sanctions against Iran, the release of $24 billion of frozen Iranian assets, and the resolution of Iranian nuclear issues.  However, Iran said its leaders still need to make a final decision on the proposed interim peace deal.Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.

Stocks surged on Thursday after President Trump said he canceled planned military strikes against Iran, citing "discussions" with Iranian leadership.  He added that a "time and place of the signing" of a negotiated end to the war would "be announced shortly," and the US naval blockade of the Strait of Hormuz "will remain in full force and effect until this transaction is finalized."

WTI crude oil prices (CLN26) are down more than -3% today on hopes for a near-term US-Iran agreement and a reopening of the Strait of Hormuz.

In positive news for stocks, the University of Michigan’s June US Consumer Sentiment Index rose +4.1 to 48.9, which was stronger than expectations for a rise to 46.0.  Also, the University of Michigan’s June 1-year inflation expectations rate eased to +4.6% from +4.8% in May, and was weaker than expectations of +4.9%.  The June 5-10 year inflation expectations rate eased to +3.4% from +3.9% in May, weaker than expectations of +3.8%.

The markets are discounting a zero percent chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.

Overseas stock markets are higher today.  The Euro Stoxx 50 is up +1.9%.  China's Shanghai Composite closed up +1.12%.  Japan’s Nikkei-225 Stock Average closed up +2.81%.

Interest Rates

September 10-year T-notes (ZNU6) today are down -3 ticks, and the 10-year T-note yield is up +1.6 bp at 4.477%.  T-notes are seeing weakness today as the 10-year inflation expectations rate is up +0.1 bp at 2.306%, despite today’s drop in oil prices.  The T-note market remains worried about inflation pressures, which are likely to remain sticky even after the Strait of Hormuz reopens.  The T-note market has some carry-over weakness from Thursday, when demand was lackluster for the Treasury’s 30-year bond auction.

European government bond yields are trading lower.  The 10-year German bund yield is down -3.3 bp at 2.999%.  The 10-year UK gilt yield is down -6.6 bp at 4.839%.

On Thursday, the ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth." Swaps are discounting a 37% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.

US Stock Movers

Space Exploration Technologies Corp (SPCX), doing business as SpaceX, started trading today near $160 per share, up nearly +20% from Thursday’s IPO of $135.  The IPO was more than four times oversubscribed, indicating strong demand for the stock.  A strong showing by SpaceX today would be positive for investor sentiment and could help the upcoming IPOs for AI companies Anthropic and OpenAI.

Space-linked stocks are trading lower despite the favorable SpaceX debut, with EchoStar (SATS) down more than -9%, and Rocket Lab (RKLB) down more than -7%.

Chip stocks recovered from early losses and are trading mostly higher.  The iShares Semiconductor ETF (SOXX) is up +2.25% today, adding to Thursday’s sharp rally of +8.39%.  Thursday’s rally was sparked by signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending.  Chip leaders today include Arm Holdings (ARM)with a gain of more than +10%, and gains of more than +5% in Qualcomm (QCOM), AMD (AMD), and Intel (INTC).

Adobe (ADBE) is down more than -7% after CFO Dan Durn said he would leave the company on June 15, following news earlier this year that Adobe’s CEO would resign.  The Adobe news put continued downward pressure on software stocks, which were undercut on Thursday by negative earnings news from Oracle (ORCL).  Autodesk (ADSK) is down more than -3% and Intuit (INTU) is down by more than -2%.

Airline stocks are seeing continued support after oil prices today moved lower, adding to Thursday’s decline.  United Airlines (UAL), American Airlines (AAL), and Southwest Airlines (LUV) are all up more than +3%.

Energy stocks and service providers are trading higher with today’s continued sell-off in crude oil prices.  Occidental Petroleum (OXY), Valero (VLO), and Marathon Petroleum (MPC) are all up more than +2%.

Astera Labs (ALAB), CoreWeave (CRWV), Nebius Group (NBIS), Rocket Lab (RKLB), and Teradyn (TER) are seeing support today after Nasdaq announced on Thursday that those stocks will join the Nasdaq 100 Index, effective at the market open on June 22. Stocks leaving the Nasdaq 100 include Charter Communications (CHTR), Cognizant Technology Solutions (CTSH), Insmed (INSM), Verisk Analytics (VRSK), and Zscaler (ZS).

Travelers (TRV) is seeing downward pressure after Barclays cut its rating on the stock to underweight from equal-weight due to a downbeat outlook for profits in the property and casualty sector.

Earnings Reports(6/12/2026)

America's Car-Mart Inc/TX (CRMT), Atlantic International Corp (ATLN), Friedman Industries Inc (FRD), Liberty Live Holdings Inc (LLYVA), Pioneer Bancorp Inc/NY (PBFS), Richtech Robotics Inc (RR), Seneca Foods Corp (SENEB), Whitestone REIT (WSR).

On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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[Abstract Financial Data Visualization with Digital Stock Market Graphs] AlexSecret

Wall Street’s major market averages are higher on Friday as traders watch the highly anticipated SpaceX (SPCX [https://seekingalpha.com/symbol/SPCX]) officially start trading.

The blue chip Dow (DJI [https://seekingalpha.com/symbol/DJI]) was +0.5% the benchmark S&P 500 (SP500 [https://seekingalpha.com/symbol/SP500]) was 0.2%, and the tech focused Nasdaq Composite (COMP:IND [https://seekingalpha.com/symbol/COMP:IND]) was +0.1%.

From a sector-by-sector perspective, nine of the 11 S&P segments were higher, with energy leading the charge. At the other end of the spectrum, consumer discretionary has struggled the most so far in the session.

SpaceX's (SPCX [https://seekingalpha.com/symbol/SPCX]) long-awaited initial public offering happened on Friday, as shares officially opened [https://seekingalpha.com/news/4602910-spacex-jumps-11-in-historic-ipo-as-elon-musk-becomes-worlds-first-trillionaire] on the Nasdaq at $150, for a gain of 11%.

Treasury yields moved higher. The U.S. 2-Year Treasury yield (US2Y [https://seekingalpha.com/symbol/US2Y]) added 2 basis points to 4.08%. At the same time, the U.S. 10-Year Treasury yield (US10Y [https://seekingalpha.com/symbol/US10Y]) climbed by 2 basis points to 4.48%, and the U.S. 30-Year Treasury yield (US30Y [https://seekingalpha.com/symbol/US30Y]) advanced 2 basis points to 4.97%.

As for stocks that were on the move, shares of Arm Holdings (ARM [https://seekingalpha.com/symbol/ARM]) advanced by 7.8%, while shares of Adobe (ADBE [https://seekingalpha.com/symbol/ADBE]) fell 6.8%.

MORE ON MARKETS

* Dividend Roundup: Microsoft, Philip Morris, Coca-Cola, Target, and more [https://seekingalpha.com/news/4602911-dividend-roundup-microsoft-philip-morris-coca-cola-target-and-more]
* Prediction market bets rise on Elon Musk combining Tesla and SpaceX [https://seekingalpha.com/news/4602974-prediction-market-bets-rise-on-elon-musk-combining-tesla-and-spacex]
* Is SpaceX worth $1.8T? SA analysts weigh In ahead of the blockbuster IPO [https://seekingalpha.com/news/4602930-is-spacex-worth-18t-sa-analysts-weigh-in-ahead-of-the-blockbuster-ipo]
* Tech sector delivers one of the best earnings quarters since 2001 [https://seekingalpha.com/news/4602954-tech-sector-delivers-one-of-the-best-earnings-quarters-since-2001]
* Trump halts Iran strikes and signals major Middle East agreement nearing completion [https://seekingalpha.com/news/4602713-trump-halts-iran-strikes-and-signals-major-middle-east-agreement-nearing-completion]

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Investing.com -- The broader software complex experienced widespread declines on Friday as fragile investor confidence gave way to a wave of sympathetic selling across the sector. The turn lower continued to arrest a month-long recovery fueled in part by strong corporate results and forward guidance from Snowflake.

The shift in capital allocation reflects a market that remains deeply hypersensitive to any perceived headwind within the enterprise technology layer. Rather than treating recent operational changes at Adobe Systems Incorporated (NASDAQ:ADBE) and heavy capital spending projections at Oracle Corporation (NYSE:ORCL) as isolated events, institutional investors have aggressively unwound positions across the board.

Wall Street analysts noted that Adobe's strategic pivot to a freemium model and Oracle's massive debt-funded data center buildout have fundamentally altered profitability expectations for the near term. Market observers widely concluded that these shifting corporate dynamics are injecting incremental uncertainty into a sector already struggling to defend its valuation multiples.

The iShares Expanded Tech-Software Sector ETF (NYSE:IGV) fell slightly as it looked to close out a punishing week, dropping over 5% over the past five days, worsening a 15% fall over the past year. However, the damage has not entirely wiped out the sector's recent momentum, as the ETF maintains a 1.5% gain over the past month.

Large-cap enterprise names bore the brunt of the algorithmic and fundamental selling pressure as macro anxieties intensified. ServiceNow Inc (NYSE:NOW) slid around 1.5%, while data warehouse pioneer Snowflake Inc (NYSE:SNOW) dropped close to 1% during a volatile trading session.

Industry bellwether Salesforce Inc (NYSE:CRM) fell over 1%, as even the most deeply entrenched customer relationship software models have not been immune to the prevailing market malaise. Intuit Inc (NASDAQ:INTU) also joined the broader retreat, dropping close to 2.5% as investors trimmed exposure ahead of the weekend.

The downward pressure extended deeply into specialized software segments, prompting sharp losses in design and cybersecurity names. Adobe competitor Figma Inc (NYSE:FIG) lost over 6.5%, while Autodesk Inc (NASDAQ:ADSK) and data security provider Rubrik Inc (NYSE:RBRK) dropped 2.5% each as momentum capital rotated away from application layers.

The aggressive de-risking in software occurred against the backdrop of a broader equity stabilization, highlighting a painful performance divergence within technology. Investors actively favored hardware and semiconductor alternatives over application providers, pushing software back into a selective, sideways trading pattern.

Story Continues

The persistent weakness across these secondary software names underscores deep-seated fears that generative artificial intelligence tools will ultimately compress seat-based subscription pricing. Until the industry can prove these emerging technologies expand the total addressable market rather than cannibalize it, the sector appears poised to struggle for direction.

Related articles

Software stocks tumble in sympathy as fragile market sentiment fractures again

Citi pushes back Fed rate cuts to May after blowout January jobs report

JPMorgan outlines ten strategic themes that could shape the outlook for 2026

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Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

The S&P 500 Index ($SPX) (SPY) is down -0.31%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.09%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.53%.  June E-mini S&P futures (ESM26) are down -0.15%, and June E-mini Nasdaq futures (NQM26) are down -0.37%.

Stocks are trading lower but are seeing support again today as reports circulate that a preliminary US-Iran peace agreement could be signed as early as this weekend, ending the military hostilities, reopening the Strait of Hormuz, and ending the US blockade on Iran and its oil exports.  Negotiations would then begin on the more intractable issues, such as sanctions against Iran, the release of $24 billion of frozen Iranian assets, and the resolution of Iranian nuclear issues.  However, Iran claimed it would continue to exert control over the Strait of Hormuz even after a new ceasefire agreement.Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.

Stocks surged on Thursday after President Trump said he canceled planned military strikes against Iran, citing "discussions" with Iranian leadership.  He added that a "time and place of the signing" of a negotiated end to the war would "be announced shortly," and the US naval blockade of the Strait of Hormuz "will remain in full force and effect until this transaction is finalized."

WTI crude oil prices (CLN26) are down more than -1% today on hopes for a near-term US-Iran agreement and a reopening of the Strait of Hormuz.

Tech stocks are being undercut today by weakness in chip and software stocks.

In some positive news for stocks, the University of Michigan’s US Consumer Sentiment index rose +4.1 to 48.9, which was stronger than expectations for a rise to 46.0.

The markets are waiting to see how SpaceX will open for trading today after its IPO on Thursday.  Nasdaq says the shares will be released for quotation at 9:50 AM ET today, but it may take some time for regular trading to begin.

The markets are discounting a 4% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.

Overseas stock markets are higher today.  The Euro Stoxx 50 is up +1.4%.  China's Shanghai Composite closed up +1.12%.  Japan’s Nikkei-225 Stock Average closed up +2.81%.

Interest Rates

September 10-year T-notes (ZNU6) today are down -8 ticks, and the 10-year T-note yield is up +3.2 bp at 4.493%.  T-notes are seeing weakness today as the 10-year inflation expectations rate is up +0.7 bp at 2.313%, despite today’s drop in oil prices.  The T-note market remains worried about inflation pressures, which are likely to remain sticky even after the Strait of Hormuz reopens.  The T-note market has some carry-over weakness from Thursday, when demand was lackluster for the Treasury’s 30-year bond auction.

European government bond yields are trading lower.  The 10-year German Bund yield is down -1.6 bp at 3.015%.  The 10-year UK gilt yield is down -4.2 bp at 4.863%.

On Thursday, the ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth." Swaps are discounting a 37% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.

US Stock Movers

Space Exploration Technologies Corp (SPCX), doing business as SpaceX, is expected to begin trading this morning after raising a record $75 billion in its IPO on Thursday.  The stock is expected to open substantially above its IPO price of $135.  The IPO was more than four times oversubscribed, indicating strong demand for the stock.  A strong showing by SpaceX today would be positive for investor sentiment and could help the upcoming IPOs for AI companies Anthropic and OpenAI.

Space-linked stocks are trading lower despite the SpaceX debut, with EchoStar (SATS) down more than -6%, and Rocket Lab (RKLB) down more than -5%.

Chip stocks are trading mostly lower today after Thursday’s sharp rally, with the iShares Semiconductor ETF (SOXX) trading slightly lower after Thursday’s rally of +8.39%.  Thursday’s rally was sparked by signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending.  Chip leaders today include AMD (AMD) and Intel (INTC), with gains of more than +3%.

Adobe (ADBE) is down more than -8% after CFO Dan Durn said he would leave the company on June 15, following news earlier this year that Adobe’s CEO would resign.  The Adobe news put continued downward pressure on software stocks, which were undercut on Thursday by negative earnings news from Oracle (ORCL).  ServiceNow (NOW), Atlassian (TEAM), and Workday (WDAY) are all trading down by more than -3%.

Airline stocks are seeing continued support after oil prices today moved lower, adding to Thursday’s decline.  United Airlines (UAL) and Southwest Airlines (LUV) are trading up more than +0.5%.

Energy stocks and service providers are mixed despite today’s continued slump in oil prices.  Baker Hughes is down more than -1%, but Occidental Petroleum (OXY) and Marathon Petroleum (MPC) are up more than +1%.

Astera Labs (ALAB), CoreWeave (CRWV), Nebius Group (NBIS), Rocket Lab (RKLB), and Teradyn (TER) are seeing support today after Nasdaq announced on Thursday that those stocks will join the Nasdaq 100 Index, effective at the market open on June 22.  Stocks leaving the Nasdaq 100 include Charter Communications (CHTR), Cognizant Technology Solutions (CTSH), Insmed (INSM), Verisk Analytics (VRSK), and Zscaler (ZS).

Travelers (TRV) is down more than -1% after Barclays cut its rating on the stock to underweight from equal-weight due to a downbeat outlook for profits in the property and casualty sector.

Earnings Reports(6/12/2026)

America's Car-Mart Inc/TX (CRMT), Atlantic International Corp (ATLN), Friedman Industries Inc (FRD), Liberty Live Holdings Inc (LLYVA), Pioneer Bancorp Inc/NY (PBFS), Richtech Robotics Inc (RR), Seneca Foods Corp (SENEB), Whitestone REIT (WSR).

On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.