Adobe raised its fiscal-year outlook for the second time this year, but investors remain uncertain that the company can grow into the artificial-intelligence powerhouse it wants to be. “The clear question right now in investors’ minds is: ‘How is AI going to get infused into our workflows, and maintain the durable differentiation that Adobe has had?'” David Wadhwani, Adobe’s president of digital media business said. “I think that this quarter is a great example of exactly that.” The San Jose, Calif., software company now expects annual revenue to be $23.65 billion to $23.7 billion, up from a previous range of $23.5 billion to $23.6 billion. Adjusted earnings per share are now expected to be $20.80 to $20.85, up from $20.50 to $20.70. Adobe also logged higher revenue and surpassed certain financial milestones related to its AI goals. Shares advanced 3%, to $360.80, after the market closed. Adobe investors have been hard to impress this year, with the stock falling after the company first raised its outlook in June. At the close, shares were down 21% this year.

The Switzerland market closed on a firm note on Thursday with several stocks gaining good ground in positive territory thanks to sustained buying support. Investors digested the European Central Bank's decision to leave interest rate unchanged. The mood remained bullish amid expectations of a rate cut by the Federal Reserve next Wednesday. The benchmark SMI closed with a gain of 75.26 points or 0.62% at 12,292.72. The index, which stayed positive right through the day's trading session, moved between 12,239.15 and 12,304.81. Amrize, the top gainer in the SMI index, surged 3.6%. Holcim climbed about 3.4%, while VAT Group and Swatch Group gained about 2.5% and 2.35%, respectively. UBS Group, Novartis, Partners Group, Schindler Ps, Roche Holding and SGS gained 0.8 to 1.25%. Sika, Kuehne + Nagel, Richemont and Sonova also ended on a firm note. The market breadth was positive. Out of 219 stocks traded in the session, 135 stocks closed higher, and 64 stocks ended weak, while 20 stocks closed unchanged.

Europe
European stocks closed higher on Thursday as the latest data on U.S. consumer price inflation and unemployment claims boosted the prospects of a rate cut by the Federal Reserve next week. Investors also digested the European Central Bank's decision to hold rates. The ECB left its key interest rate unchanged as expected, and raised the euro area growth projection for this year while inflation forecasts were stable. The Governing Council, led by ECB President Christine Lagarde, held the deposit rate steady at 2%. The refinancing rate was left unchanged at 2.15% and the marginal lending rate at 2.4%. The Labor Department report said the U.S. consumer price index climbed by 0.4% in August after inching up by 0.2% in July. Economists had expected consumer prices to rise by 0.3%. The report also said the annual rate of consumer price growth accelerated to 2.9% in August from 2.7% in July, in line with economist estimates. The annual rate of core consumer price growth in August was unchanged from the previous month at 3.1 percent, in line with economist estimates. The pan European Stoxx 600 climbed 0.55%. The U.K.'s FTSE 100 surged 0.78%, Germany's DAX gained 0.3% and France's CAC 40 jumped 0.8%, while Switzerland's SMI ended 0.62% up. Among other markets in Europe, Austria, Belgium, Czech Republic, Finland, Greece, Iceland, Netherlands, Poland, Portugal, Spain and Sweden ended higher. Denmark, Russia and Turkiye closed weak, while Ireland and Norway ended flat. In the UK market, BAE Systems rallied 6.3%. Compass Group gained 2.75% thanks to a rating upgrade by Deutsche Bank. Babcock International and ICG also gained about 2.75%. Rolls-Royce Holdings, Imperial Brands, GSK, Diploma, Relx, Coca-Cola Europacific Partners, British American Tobacco, HSBC Holdings and Pershing Square Holdings gained 1.5 to 2.2%. Playtech gained 4.3% after the gambling technology company announced strong first-half results and said it is positioned to exceed full-year expectations. Online ticketing platform Trainline soared nearly 13% following a robust first-half trading statement. M&G, Entain, Experian, WPP, Segro, The Sage Group, Spirax Group, Diageo, Associated British Foods and Ashtead Group ended with sharp to moderate losses.

United States
Stocks showed a strong move to the upside during trading on Thursday, with the major averages all moving notably higher following the mixed performance seen during Wednesday's session. With the upward move, the major averages all reached new record closing highs. The major averages finished the session just off their best levels of the day. The Dow surged 617.08 points or 1.4 percent to 46,108.00, the S&P 500 jumped 55.43 points or 0.9 percent to 6,587.47 and the Nasdaq advanced 157.01 points or 0.7 percent to 22,043.07. The strength on Wall Street came amid a positive reaction to separate Labor Department reports on consumer price inflation and weekly jobless claims. A closely watched Labor Department report showed U.S. consumer prices rose by slightly more than expected in the month of August. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.2 percent in July. Economists had expected consumer prices to rise by 0.3 percent. The report also said the annual rate of consumer price growth accelerated to 2.9 percent in August from 2.7 percent in July, in line with economist estimates. Computer hardware stocks turned in some of the market's best performances on the day, with the NYSE Arca Computer Hardware Index surging by 2.7 percent to a record closing high. Substantial strength was also visible among networking stocks, as reflected by the 2.7 percent jump by the NYSE Arca Networking Index. The index also reached a new record closing high. Biotechnology stocks also showed a significant move to the upside, driving the NYSE Arca Biotechnology Index up by 2.6 percent. Housing, telecom and airline stocks also saw considerable strength on the day, moving higher along with most of the other major sectors.

Asia
The East Asian stock markets and Australia are up across the board in the course of trading on Friday.

Bonds
In the U.S. bond market, treasuries moved modestly higher, extending the upward trend seen over the past several sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped 2.1 basis points to a five-month closing low of 4.011 percent.

Analysis
MS lowers Relx to 3,980 (4,410) p – Overweight
UBS raises Arbonia to CHF 5.90 (5.60) – Neutral
JPM raises Sika to Neutral (Underweight) – Target CHF 186

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