Good evening and welcome to Markets Desk, your closing read on the stories moving markets today.
Adobe shares came under pressure after the company's latest earnings failed to impress Wall Street. Analysts made clear that in this environment, simply meeting expectations isn't enough — investors want acceleration, and Adobe's numbers didn't deliver the kind of forward momentum the street was looking for.
Turning to commodities, the grain and cotton complexes posted broad gains on Thursday, with wheat rallying across all three exchanges — Chicago, Kansas City, and Minneapolis — posting gains of roughly five to twelve and a half cents. Cotton futures also climbed, drawing spillover strength from a crude oil surge of nearly eight dollars a barrel and a stronger dollar index.
And in consumer technology, Apple's new iPhone Duo is entering China's foldable market and facing immediate pushback on price. Chinese consumers are drawing sharp comparisons to cheaper offerings from Xiaomi and Huawei, raising real questions about whether Apple's premium positioning can hold in one of the world's most competitive device markets.
That's the tape. Markets Desk, signing off the floor.
