US stocks decline during Friday's session as investors stop buying

Friday, June 14, 2024 - 18:14
Point Trader Group

US stock indices fell during the session of Friday, June 14, the last session of the week on Wall Street, as investors stopped buying after strong rises in the S&P 500 and Nasdaq indices, and their assessment of the US Federal Reserve’s cautious expectations regarding monetary policy as a result of the economic slowdown.

During its meeting this week, the US Federal Reserve decided to fix interest rates at a level between 5.25% and 5.5%, for the seventh time in a row.

Aircraft manufacturer Boeing's shares are still under pressure from the negative news that has been following them since the beginning of the year, as the company's shares have declined by approximately 28% since the beginning of 2024.

Boeing shares fell during Friday's session on Wall Street, by more than 1.5% after the US Aviation Administration announced the opening of an investigation against the company for its use of counterfeit titanium.

Shares of graphics giant Adobe rose more than 14% during Friday trading, supported by the company’s announcement of record sales amounting to $5.3 billion in the second quarter of fiscal year 2024, an annual increase of 11%, exceeding the expectations of analysts on Wall Street.

The company raised its annual targets for net new digital media revenue, digital subscription revenue and earnings per share.

The design software giant said demand for its artificial intelligence products has led to a rise in its sales.

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