Friday's trading: 5 things to know
The economic data that traders will be watching includes industrial production and leading economic indicators
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Here are the key events taking place on Friday that could impact trading.
OIL HEADS LOWER: Oil prices edged lower on Friday on concerns about global economic growth and a series of interest rate hikes around the world. U.S. West Texas Intermediate (WTI) crude futures fell to $116 a barrel. U.S. crude futures would see their first dip in eight weeks. Brent crude futures fell to $119 a barrel.
In this photo illustration, the Adobe Inc. logo seen displayed on a smartphone screen. (Rafael Henrique/SOPA Images/LightRocket via Getty Images / Getty Images)
ADOBE OUTLOOK: Shares traded more than 3% lower in premarket trading following a disappointing outlook. Adobe sees revenue of $4.43 billion, below the analyst consensus of $4.51 billion. For the full year, Adobe now sees revenue of $17.65 billion, down from a previous forecast of $17.90 billion. Second quarter profit and revenue topped expectations.
FORD CFO FLAGS INCREASES IN CAR LOAN DELINQUENCIES
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ADBE | ADOBE INC. | 486.42 | +5.07 | +1.05% |
INDUSTRIAL PRODUCTION: The Federal Reserve will post data for May. Factory output is expected to increase 0.4% for the month, less than half of April’s 1.1% rise. The plant-use rate is seen edging up to 79.2%, the fifth straight monthly increase and the highest in three-and-a-half years.
LEADING INDICATORS: The Conference Board will release its Leading Economic Index for May. Watch for a decline of 0.4% from April.
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LONG WEEKEND: Equity and bond markets will be closed on Monday as the Juneteeth holiday is observed. Futures will trade on an abbreviated schedule.
United States flags fly outside of the New York Stock Exchange (NYSE). (REUTERS/Lucas Jackson)