Adobe shares gained Wednesday as technology stocks advanced after the personal consumption expenditures (PCE) price index rose 0.3% month over month, below economists' 0.4% forecast. The Nasdaq rose 0.86%, the S&P 500 gained 0.32% and information technology shares jumped 1.2%, while the Dow fell 0.42% to 51,135.81. Headline PCE inflation held at 3.4% annually, while core PCE rose 0.2% monthly and slowed to 3.0% annually from 3.3%. Adobe traded at $239.66, up 2.278%, with 1.576 million shares changing hands versus a 100-day average of 5.391 million. The stock is down 32.04% year to date and 32.48% over the past 12 months, with a forward price-to-earnings ratio of 8.45 times. Adobe has forecast $275.1 billion in U.S. online holiday spending for Nov. 1–Dec. 31, up 6.7% from a year earlier, while artificial intelligence annual recurring revenue rose more than 150% year over year in fiscal third quarter and monthly active users surpassed one billion. Technically, the stock remains below its 20-day, 50-day and 200-day simple moving averages, with resistance near $259 and support around $233.50.