Adobe & Dollar General in the Earnings Spotlight 12/03/2026

HOT stories for today

Market wrap:

• U.S. stocks ended mixed in Wednesday’s regular session, with the S&P 500 and Dow Jones Industrial Average declining while the Nasdaq Composite managed a modest gain. Energy, technology, and communication services were the only sectors to finish higher, supported by gains in artificial-intelligence infrastructure provider Oracle and refiners Valero Energy and Marathon Petroleum. Investors remained focused on the impact of the U.S.-Iran conflict on energy markets, as higher oil prices renewed concerns about inflation. West Texas Intermediate and Brent crude futures both settled more than 4% higher, extending gains despite an agreement by the International Energy Agency to release 400 million barrels from emergency reserves to ease supply disruptions. Tensions around the Strait of Hormuz continued to dominate headlines. U.S. forces reportedly sank 16 Iranian mine-laying vessels near the passage as tanker traffic remained largely stalled amid security threats. Insurer Chubb was also named the lead underwriter for a U.S. government-backed program designed to provide insurance coverage for ships attempting to transit the strait. 
• Beyond geopolitical risks, investors are preparing for a busy slate of economic data. Weekly jobless claims and housing starts are due Thursday, while the Federal Reserve’s preferred inflation gauge, the personal consumption expenditures price index, will be released Friday. Asian markets declined Thursday as oil extended its advance despite the coordinated release of strategic crude reserves. U.S. stock futures also moved lower, with Dow futures falling about 500 points as energy prices climbed. On the corporate front, earnings from Adobe and Dollar General are in focus, alongside Thursday’s jobless claims report.

Oil Near $100 Despite Record Reserve Release

• Oil prices pulled back slightly Thursday after briefly touching $100 a barrel, but fresh attacks on cargo ships in the Persian Gulf kept the market on edge, and supply fears elevated. Brent crude traded about 4% higher at $95.62 a barrel in early London dealing, while U.S. West Texas Intermediate rose 3.5% to around $90.32. The moves followed overnight reports that three foreign vessels were struck near Iraq and the United Arab Emirates, including two tankers that were set ablaze. The renewed attacks underscored how fragile the situation remains around the Strait of Hormuz, a chokepoint that carries about a fifth of global oil supply. 
• The price gains came even after the International Energy Agency announced a record 400 million-barrel release from emergency reserves, with the U.S. set to contribute 172 million barrels from its Strategic Petroleum Reserve. Traders, however, appeared unconvinced the move would provide quick relief, given uncertainty over how fast those barrels can actually reach the market. That skepticism has kept oil in what analysts described as panic mode, with investors increasingly focused on whether the conflict drags on long enough to create a more lasting supply shock.

Stocks on the move:

• Campbell’s Co. (CPB): Shares of the Pepperidge Farm and Goldfish maker fell more than 7.5% after fiscal second-quarter results and full-year guidance came in below expectations, according to FactSet. Weakness in both snacks and U.S. soup sales sent the stock to its lowest level in 23 years.
• Nebius Group (NBIS): Shares climbed 15% after Nvidia announced a $2 billion investment in the AI cloud company, saying the funding will help Nebius deploy more than 5 gigawatts of capacity by the end of 2030 and support Nvidia’s broader AI infrastructure expansion.
• Uber Technologies (UBER): Shares rose nearly 3% after Amazon’s Zoox agreed to a multiyear partnership with Uber that will bring its robotaxis to the Uber app in the U.S. Uber plans to launch Zoox driverless rides in Las Vegas this summer and in Los Angeles next year.
• Cintas (CTAS), UniFirst (UNF): Cintas gained more than 2% after saying it would acquire UniFirst for $310 a share in a deal valued at about $5.5 billion. UniFirst rose 9% on the announcement. Baird also upgraded Cintas to outperform.

Watchlist: ORCL, ADBE, DG, FUTU, LI, DKS, XOM, CVX, SLV

Key Economic Events Today:

EST time

08:30 am: USD Unemployment Claims, Trade Balance
08:30 am: USD Building Permits, Housing Starts
11:00 am: USD FOMC Member Bowman Speaks



Earnings

BMO (Before Market Open): Dollar General Corp. (DG), Futu Holdings (FUTU), LI Auto (LI), Dick’s Sporting Goods (DKS)

AMC (After Market Close): Adobe Inc. (ADBE), Wheaton Precious Metals (WPM), Ulta Beauty (ULTA), Lennar Corp. (LEN), Rubrik (RBRK)


The TEFS Analyst team wishes you a successful day!