Stock market closed higher after a remarkable reversal on Thursday, following hotter-than-expected inflation report. The consumer price index declined slightly to 8.2% in September, from 8.3% in August.
Overall, S&P 500 increased 2.6% to 3,670, while NASDAQ grew 2.2% to 10,649.
Tweet of the Day
https://twitter.com/AndreasSteno/status/1580438181643780096?t=Tzov83Zv0dcwMXLF9Cf6Mg&s=08
Meanwhile, Adobe Systems (ADBE) is acquiring design software Figma, which allows design teams to collaborate on designs, such as images ans websites.
Chart of the Day
Our chart of the day is the ten-year chart of ADBE.
Adobe’s software is making the Internet work from videos, images, movies, eCommerce to marketing.
The company is buying the online design startup Figma to expand its hybrid-work-friendly platforms.
ADBE is part of the Conservative Growth Portfolio.
David Sharek’s Fair Value P/E moved down from 38 last qtr to 32 this qtr, which is $433 a share for 2022.
Adobe is acquiring Figma, which will allow designers to work on project simultaneously.
This investment was taken as a sign of weakness, but long-term, it is a game-changer for the company.
