On Friday, Wall Street opened lower with all major indexes declining. The Nasdaq 100 started with a 0.28 percent decrease, the Dow Jones with a 0.41 percent decrease, and the S&P 500 with a 0.30 percent decrease. This marked the fourth down day of the week for the Dow Jones.
In the United States, a preview of the Michigan index measuring consumer confidence from June was set to be published on Friday. The Michigan index was expected to rise to 72.0 points, compared to 69.1 points in May.
At Tesla’s general meeting on Thursday, CEO Elon Musk was finally approved for a $56 billion reward that was originally from 2018. The award was previously denied in 2020 but was reconsidered and awarded to Musk at the recent general meeting. Tesla’s stock price had been rising throughout the week as investors awaited the decision.
Technology service company Adobe exceeded forecasted second-quarter results on Friday, surpassing its own guidelines as well. The integration of artificial intelligence technologies into its products was well-received in the market, leading to a price increase of over 15 percent at the opening of Wall Street.
Since the central bank Fed’s rate meeting on Wednesday, there has been some uncertainty in the market after the bank announced that it expects only one rate cut in 2024, down from the previously expected three cuts. This news has added to
