US stocks open lower after Trump threatened a 200% tax on European liquor if the EU tax on US whiskey isn't removed.

Over the last year, while President Joe Biden was in office, Trump took credit for stock market rallies as a vote of confidence in his electoral prospects. When the market dipped, he blamed Biden and Vice President Kamala Harris. And he predicted that if Democrats won the 2024 presidential election, the stock market would have crashed.

While Adobe beat on the top- and bottom-line for its fiscal first quarter and gave solid fiscal Q2 guidance, its net new annual recurring revenue of roughly $410 million landed at the low end of expectations, says UBS Global Research analyst Karl Keirstead.