Wall Street is set to continue its rally on Thursday, as stock futures signal positive momentum following the Dow Jones Industrial Average's all-time closing high. The Federal Reserve's decision to keep interest rates steady, accompanied by indications from most central bank officials that rates could potentially be cut up to three times next year, has boosted investor confidence.

Stocks to Watch

Here are some stocks that are expected to make notable movements today:

Adobe

Adobe, renowned for its popular media creation tools including Photoshop, reported better-than-expected adjusted earnings and revenue for the fiscal fourth quarter. However, the stock is currently facing a 5.7% decline after Adobe issued a revenue forecast for fiscal 2024 that fell short of estimates. Additionally, the company disclosed potential costs or penalties it may face due to a Federal Trade Commission investigation into its software subscription cancellation practices.

Apple

Apple closed on Wednesday at a new record high of $197.96, experiencing a 1.7% increase during the session. The tech giant's shares have seen an impressive 52% surge this year, placing the company's market value at a staggering $3.08 billion. Apple has also demonstrated slight upward movement in premarket trading.

Stay tuned for further updates on these stocks and the overall market trends throughout the day.

Pfizer's Stock Recovers in Premarket Trading

Pfizer saw a 0.4% increase in premarket trading to $26.77, rebounding after a significant drop of 6.7% due to the company's revised 2024 earnings and revenue guidance. It's worth noting that J.P. Morgan analysts have revised their price target on Pfizer's stock to $30 from $34, maintaining a Neutral rating. Similarly, BofA analysts have also lowered their price target to $35 from $38 and remained Neutral on the shares.

Vir Biotechnology Announces Workforce Reduction and Facility Closure

Vir Biotechnology has revealed its plans to eliminate around 75 positions, which amounts to 12% of its workforce, and close two research facilities next year. The company expects to achieve annual savings of at least $40 million through these cost-cutting measures. Marianne De Backer, Vir's CEO, stated that these changes are being made in line with the company's goals to achieve sustainable growth and secure future prospects.

Nordson Beats Expectations and Projects Revenue Growth

Industrial automation company Nordson has reported better-than-expected adjusted earnings for its fiscal fourth quarter and has forecasted revenue growth for the first quarter. Nordson anticipates first-quarter sales to be within the range of $615 million to $640 million, which is an increase from $610.5 million recorded in the previous year. Analysts' projections for sales in this period were slightly higher at $651.9 million.

Earnings Reports to Look Out for

On Thursday, we can expect earnings reports from popular names such as Costco Wholesale, Lennar, and Jabil.