Snapshot: The Upcoming Week’s Financial Highlights
As markets return to full schedule post-Thanksgiving, the focus shifts to key inflation data, retail earnings, and consumer confidence.
Key Takeaways
- Markets look forward to a full week of trading with keen eyes on the PCE inflation index, a critical indicator ahead of the Fed’s December meeting.
- Earnings from tech and retail sectors, including Salesforce, Intuit, Workday, and Crowdstrike, are anticipated.
- Consumer confidence data and updates on the U.S. GDP will offer insights into economic trends.
- Black Friday’s aftermath might reflect in retail earnings and consumer spending patterns.
Week at a Glance
Dive into a crucial week in the markets, spotlighting key earnings, pivotal economic reports, and impactful consumer data.
Monday, November 27
- Zscaler (ZS) earnings.
- New home sales for October.
Tuesday, November 28
- Earnings from Intuit (INTU), Workday (WDAY), CrowdStrike (CRWD), and Splunk (SPLK).
- S&P Case-Shiller Home Price Index for September.
- Consumer confidence for November.
Wednesday, November 29
- Earnings from Salesforce (CRM), Synopsys (SNPS), Snowflake (SNOW), Dollar Tree (DLTR), Hormel Foods Corporation (HRL), Okta (OKTA), Pure Storage (PSTG), and Five Below (FIVE).
- Q3 U.S. Gross Domestic Product (GDP) first revision.
- Advanced U.S. trade balance, wholesale inventories, and retail inventories for October.
- Federal Reserve Beige Book release.
Thursday, November 30
- Earnings from Dell Technologies (DELL), Marvell Technology (MRVL), Kroger Company (KR), Ulta Beauty (ULTA), Royal Bank Of Canada (RY), TD Bank (TD), and CIBC (CM).
- Initial jobless claims for the week ending Nov. 25.
- Personal Consumption Expenditures (PCE) Index for October.
- Pending home sales for October.
Friday, December 1
- Genesco (GCO) earnings.
- ISM manufacturing index for November.
- Construction spending and auto sales for October.
Analyzing PCE as an Inflation Barometer
The Personal Consumption Expenditures (PCE) Index, the Federal Reserve’s preferred measure of inflation, is set to provide fresh insights into pricing trends. Markets are keen on discerning signs of declining inflation, particularly after the October Consumer Price Index (CPI) reported a lower-than-anticipated inflation rate of 3.2%, a decrease from September’s 3.7%. The upcoming PCE Index, due for release on Thursday, is pivotal for the Federal Reserve’s upcoming meeting on December 12-13, coinciding with the next CPI report. Despite recent measures increasing interest rates to combat inflation, consumer concerns about ongoing inflation persist.
Salesforce’s Earnings and AI Ambitions
Salesforce’s earnings report, expected on Thursday, will highlight the company’s progress and strategies in artificial intelligence (AI). The company’s focus on AI was emphasized when CEO Marc Benioff offered positions to OpenAI employees after Sam Altman’s departure. Analyst forecasts suggest an 11% sales growth for Salesforce this year. The report will be scrutinized for the effectiveness of Salesforce’s cost reduction strategies, following a substantial revenue increase in the second quarter. The company’s recent financial adjustments and stock buyback program expansion indicate a strong fiscal standing.
Summary of Key Financial Events
This week offers a blend of significant economic data and diverse earnings reports. The PCE index and revised Q3 GDP figures will provide key insights into inflation and economic growth, while a series of tech and retail earnings will shed light on sector-specific trends. As markets return to a full schedule post-Thanksgiving, these factors will likely influence investor sentiment and market dynamics.
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