5 things to know before the stock market opens on Friday, June 14

Here are five important things investors need to know to start their trading day:

The S&P 500 and Nasdaq composite rose to a record high on Thursday for the fourth straight day. The S&P rose 0.23%, while the Nasdaq rose 0.34%. According to this week’s pattern, the Dow Jones Industrial Average underperformed and fell 65.11 points, or 0.17%. In addition to the Dow, the market was boosted by another data showing inflation pressures are cooling. Producer price index for May, a measure of wholesale inflation, unexpectedly fell 0.2% from the previous month. According to Live market updates.

Tesla shareholder voted for approval CEO Elon Musk’s massive 2018 pay plan five months after a Delaware judge ordered the company to cancel it. The judge said the compensation package, previously worth up to $56 billion in Tesla shares, was improperly granted by the board. Thursday’s vote at the company’s annual shareholder meeting does not replace the court’s ruling, but it is a victory for Musk and could help his future lawsuit. Musk also discussed Tesla’s work on self-driving vehicles, Cybertruck deliveries, and his vision for the company’s growth. Humanoid robot Optimus.

Stellantis CEO Carlos Tavares said Jeep is working to fix the problem “arrogance” mistake in the US market leading to falling sales, high inventory and investor concerns. Stellantis faces three problems, he said Thursday, after the company’s investor day: not selling off its vehicle inventory quickly enough, production problems and a lack of “sophistication in its approach.” market”. Executives have laid out plans for how they hope to achieve ambitious financial targets despite uncertainty in the industry and the economy. Tavares also said Stellantis has achieved cost reductions of 8.4 billion euros ($9 billion) since the company was created through a merger in January 2021.

Adobe The stock rose nearly 15% in better-than-expected premarket trading second quarter earnings result. The design software maker reported earnings and revenue that beat analysts’ expectations and raised its forecast for the full year. Adobe’s revenue increased 10% over the same period last year. David Wadhwani, president of Adobe’s Digital Media business, said in a conference call with analysts that the company is excited about the cloud, innovation and adoption of artificial intelligence functionality. create your own.

Netflix is looking for a partner to help the company make its first real foray into live sports. The streaming company is reaching out to broadcasters – incl Disneyof ESPN, Comcastof NBCUniversal and Global SupremeCBS Sports — to help it produce the NFL games it will air on Christmas Day this year, CNBC’s Lillian Rizzo and Alex Sherman report. But Netflix’s options can be limited. Sources say Fox and CBS already have games to produce in different regions, which could make it difficult for them to take on more. Furthermore, some people may be reluctant to help Netflix because they see the company as a competitor that could replace a legacy media company. (Disclosure: Comcast is the parent company of NBCUniversal and CNBC.)

– CNBC’s Lisa Kailai Han, Jordan Novet, Lora Kolodny, Ari Levy, Michael Wayland, Lillian Rizzo and Alex Sherman contributed to this report.

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