Stock Market Today: Live Updates

Stocks began lower Friday morning, a day after the S&P 500 and Nasdaq Composite Indexes closed at record highs.

The broader market index fell 0.4%, while the tech-heavy Nasdaq dropped 0.3%, and the Dow Jones Industrial Average also fell 229 points, or 0.5%, on the day.

— Lisa Kailai Han

Check out the companies that are garnering attention before the bell rings.

• RH — The luxury retailer posted a much bigger per-share loss in the first quarter than Wall Street had expected, sending its shares falling 12.3%.
• Adobe — The software company reported better-than-expected profit and revenue, and new annual revenue from digital media, including Creative Cloud subscriptions, topped analysts’ expectations, sending its shares soaring 14.2%. Adobe also raised its full-year outlook. JPMorgan on Friday upgraded Adobe shares to overweight from neutral, saying the company is “on track going forward” after the company’s strong quarterly results.
• Hasbro — Bank of America raised its rating on the toy maker to buy from neutral, sending the stock up 1.7%, saying in a Friday note that Hasbro’s digital gaming strategy could lead to a profit recovery in 2024 and 2025.

For a complete list, see here.

Pia Singh

The stock market has been climbing to new highs this year.

So far in 2024, the S&P 500 is up 13.92%, the Nasdaq Composite is up 17.69%, and the Nasdaq 100 is up 16.35%.

Here are the record closing highs recorded by some of the major stock indexes so far this year:

• S&P 500: 29
• Nasdaq Composite: 17
• Nasdaq 100: 26

— Lisa Kailai Han

The S&P 500 and Nasdaq Composite Index have both risen for seven of eight consecutive weeks, hitting all-time highs in the process.

The Composite Index is up 1.6% so far this week and the Nasdaq is up 3.1%, while the Dow has struggled, losing 0.4%.

Fred Imbert

The Bank of Japan kept its policy interest rate unchanged on Friday but signaled it was considering reducing its bond purchases.

The central bank left short-term interest rates unchanged at 0% to 0.1% at the end of a two-day policy meeting, as widely expected.

The Bank of Japan said it may reduce its purchases of Japanese government bonds at its next monetary policy meeting, scheduled for July 30 and 31.

The yen fell below 158 to the dollar after the announcement, and the yield on the 10-year government bond fell to 0.929%.

Lim Hui Jie

Well-known meme stock trader Keith Gill (aka “Roaring Kitty” and “DeepF——Value”) appears to have increased his holdings in the company to 9 million shares.

Gill posted new screenshots of his E-Trade portfolio on Reddit’s Superstonk forum after the market closed on Thursday, which appear to show that he now holds 9 million 1,001,000 shares of GameStop stock, as well as more than $6 million in cash.

The total value of his portfolio was more than $268 million as of Thursday night, compared with $210 million on June 2. GameStop shares rose more than 14% in regular trading but fell 4% in after-hours trading.

To learn more about how Roaring Kitty increased its stake, read CNBC’s Yun Li’s article here.

–Darla Mercado

Shares of software giant Adobe soared more than 16% on Thursday after the company’s second-quarter results beat Wall Street expectations.

Adobe raised both its full-year earnings and revenue outlook. The company now expects earnings per share in the range of $18 to $18.20 and revenue in the range of $5.33 billion to $5.38 billion.

Brian Evans

Tesla Inc. shareholders voted Thursday to reinstate Chief Executive Officer Elon Musk’s controversial $56 billion compensation package, but the move needs to be settled in court before it can take effect.

The vote on Musk’s compensation was one of several measures scheduled to go to a shareholder vote on Thursday, including a provision to reincorporate the company in Texas.

Tesla shares traded up about 1%. Tesla shares closed up about 3% during regular trading hours on hopes that the compensation package would be approved.

Brian Evans

Stock futures were little changed on Thursday after the S&P 500 closed at an all-time high and Adobe reported strong quarterly results.

S&P 500 futures fell 0.1%, while Nasdaq 100 futures dropped 0.04%. Dow Jones Industrial Average futures fell 57 points, or 0.1%.

Brian Evans