The U.S. markets will return to a full schedule after a short week following the Thanksgiving holiday, where market watchers will see the latest inflation data, while a few notable companies will report earnings.
What to Expect in the Markets Next Week
After returning from the Thanksgiving holiday and Black Friday sales, U.S. markets will resume their full schedule this week, as market watchers will look out for the latest inflation data while a few notable companies will report earnings.
Upcoming U.S. events:
Monday, November 27
Zscaler (ZS) earnings reports, new home sales (October)
Tuesday, November 28
Intuit (INTU), Workday (WDAY), CrowdStrike (CRWD), and Splunk (SPLK) earnings reports, S&P Case-Shiller home price index (September), consumer confidence (November)
Wednesday, November 29
Salesforce (CRM), Synopsys (SNPS), Snowflake (SNOW), Dollar Tree (DLTR), Hormel Foods Corporation (HRL), Okta (OKTA), Pure Storage (PSTG), and Five Below (FIVE) earnings reports, third quarter GDP (first revision), U.S. advanced trade balance in goods (October), advanced wholesale inventories (October), advanced retail inventories (October), Federal Reserve’s Beige Book report
Thursday, November 30
Dell Technologies (DELL), Marvell Technology (MRVL), Kroger Company (KR), Ulta Beauty (ULTA), Royal Bank of Canada (RY), TD Bank (TD), and CIBC (CM) earnings reports, initial unemployment claims (week ending November 25), personal consumption expenditures index (October), pending home sales (October)
Friday, December 1
Genesco (GCO) earnings reports, ISM manufacturing (November), construction spending (October), auto sales (November)
Market Watch for PCE Inflation Index
The Personal Consumption Expenditures (PCE) index, the Federal Reserve’s preferred inflation gauge, will provide the latest view on prices for markets looking for inflation to decline.
The PCE reading follows another inflation indicator – the Consumer Price Index (CPI) – which came in below expectations at 3.2% for October, down sharply from 3.7% in September.
The release of the PCE index on Thursday will help show whether consumer prices continue to decline, and the Federal Reserve will closely examine the data in the report ahead of the Federal Open Market Committee (FOMC) meeting on December 12-13, where interest rate levels will be reviewed.
Investors will also receive reports on new home sales, the home price index for September, new and pending home sales in October, and consumer confidence in November. On Wednesday, the first revisions of GDP for the third quarter in the U.S. will be released.
Salesforce Earnings: A Look at AI Progress?
Salesforce’s earnings report on Thursday will show how the company is using AI tools to drive growth. The company has ramped up its efforts to attract AI talent when its CEO, Marc Benioff, offered jobs to OpenAI employees at Salesforce following the ouster of former CEO Sam Altman.
The customer relationship management company is expected to achieve an 11% sales growth this year, according to analysts’ estimates compiled by Visible Alpha.
Investors will be looking to see if the company’s cost-cutting measures continue to boost its results. Salesforce returns from the second quarter after reporting an 11% increase in revenue to $8.6 billion, contributing to a net income of $1.27 billion for the quarter.
In its latest earnings report, the software company raised its earnings per share forecast to $8.04 to $8.06, from its previous guidance of $7.41 to $7.43. It also slightly raised its full-year revenue guidance to $34.7 billion to $34.8 billion. In March, the company announced it was enhancing its share buyback program.
Source:
https://www.investopedia.com/what-to-expect-in-the-markets-this-week-4584772
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