Despite the shortened trading week, we still saw a considerable amount of green in the markets, with the S&P up 1.07%, the Nasdaq up 1.14%, the Russell up 1.18%, and the Dow up 1.34%. This came on the back of some better-than-expected economic data and overall market sentiment as the market poised itself for a “Santa Claus rally”. However, we’re not out of the woods yet, as this week we have some pretty important companies reporting their earnings and some very important economic data releases this week.Â
Despite being a relatively short week last week, there were some incredibly important metrics that were released, like the first revision of Q3 GDP and PCE. Luckily for us, these metrics came in roughly in line with expectations, so the market didn’t move in a meaningful way. Fortunately for us, the week ahead will not be as short, and there will be some important metrics to pay attention to!
This week, there are some key economic data releases that everyone should be paying attention to, starting with job openings and auto sales on Tuesday. We then get to see ADP employment data and the Fed Beige Book on Wednesday. Lastly, we wrap the week up on Friday with the US employment report, unemployment rate, preliminary consumer sentiment, and consumer credit. It will be incredibly important to pay attention to these numbers, as they will give us a good idea of how the consumer is faring. Additionally, everyone should keep an eye out for commentary from retailers regarding Black Friday sales, as any comments will certainly move the markets!
This week, we have some very important companies reporting their earnings, such as:
12/02 – Zscaler (ZS)
12/03 – Salesforce (CRM), Marvell Technology (MRVL), Pure Storage (PSTG), Okta (OKTA), Core & Main (CNM)
12/04 – Synopsys (SNPS), Hormel Foods (HRL), Dollar Tree (DLTR), Chewy (CHWY), The Campbell’s Soup Company (CPB), SentinelOne (S)
12/05 – The Kroger Company (KR), lululemon athletica (LULU), Veeva Systems (VEEV), Samsara (IOT), Hewlett Packard Enterprise (HPE), Ulta Beauty (ULTA), Dollar General (DG), DocuSign (DOCU), GitLab (GTLB), Rubrik (RBRK)
This week, it will be incredibly important to pay attention to what companies like LULU, ULTA, and CHWY have to say. The leaders of these companies will likely make some important commentary on their calls regarding the holiday shopping season, which will undoubtedly move markets in one way or another.
It’ll also be important to pay attention to the software giants, like CRM and ZS. These companies will give us insight as to where companies are spending their money and whether or not we should expect tightening budgets for 2025.
Monitoring the market conditions this week.
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