Following a robust Thanksgiving week, the U.S. stock market braces for a packed week filled with economic indicators and corporate earnings releases. Market participants eagerly await the Federal Reserve's favored inflation measurement and November's private sector payrolls. However, the latest monthly jobs report from the government, postponed due to the government shutdown, isn't due until later.
Expectations are high for incoming reports on consumer credit, consumer sentiment, and fresh data from both, the manufacturing and services sectors. Several large tech companies, such as Salesforce, CrowdStrike, and Marvell Technology, are due to release their earnings this week. Insights on consumer spending may be gleaned from earnings reports from Dollar Tree and Dollar General.
Further, critical data for this week includes online retail sales figures from Thanksgiving through Cyber Monday, estimated by Salesforce to be around $78 billion. Data releasing on Friday could pivot the focus towards inflation and consumer sentiment. All eyes will also be on the Federal Reserve’s consumer credit report, shedding light on American consumers' debt levels.
Apart from employment data from private payrolls slated for release this week, the government’s monthly jobs report is postponed until Dec. 16. Federal Reserve Chair Jerome Powell's remarks on the upcoming Monday could incite anticipation for an interest rate cut in the week following.
Upcoming corporate earnings could spur excitement in the AI sector, particularly Salesforce’s earnings. Other releases from Marvell Technology, MongoDB, and Pure Storage could reflect a rise in AI-related demand. CrowdStrike's earnings report, due Tuesday, follows their better-than-expected revenue forecast in the last quarter. Dollar Tree and Dollar General's results could hint at changes in consumer preferences.