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Welcome to your new week, and Happy December.
Let’s dive in!
Key Earnings Announcements:
Tuesday is the biggest day of earnings this week with a mix of retail & tech.
Monday (12/2): Zscaler
Tuesday (12/3): Box, Couchbase, Core & Main, Salesforce
Wednesday (12/4): American Eagle, Campbell’s, Chargepoint, Chewy, Cracker Barrel, Dollar Tree, SentinelOne
Thursday (12/5): BMO Harris, Caleres, Dollar General, DocuSign, Hewlett Packard Enterprises, Kroger, Lululemon, TD Bank, UiPath, Ulta Beauty
Friday (12/6): BRP, Genesco
What We’re Watching:
Salesforce (CRM)
Source: Salesforce Investor Relations
Salesforce (+25% YTD) will report FQ3 earnings after the market closes on Tuesday — with analysts expecting a +16% profit increase and +7% revenue growth.
The focus remains on Agentforce, credited with heavily contributing to a +32% surge in Salesforce’s stock since September. Its role in strengthening renewal of Salesforce business and AI monetization are expected to be continued talking points in this week’s report.
Analysts highlight Agentforce’s multi-billion-dollar growth potential — leveraging AI to enhance customer experiences by tackling tasks beyond routine automation.
Salesforce has also partnered with Google and Nvidia to elevate its capabilities. Investors will closely monitor updates on AI-driven innovations like Data Cloud, as well as Salesforce's ability to balance growth with expanding profitability.
Salesforce, Inc (CRM) Stock Performance, 5-Year Chart, Seeking Alpha
SentinelOne (S)
SentinelOne’s OneCon Conference Presentation
SentinelOne (+2% YTD) reports earnings after close on Thursday this week. Its Singularity platform will be taking center stage.
Singularity’s ability to provide real-time threat detection without deep system integration has positioned the company to gain market share, especially as businesses diversify cybersecurity providers in the wake of global IT outages.
Recent growth highlights include a +33% revenue increase and the launch of Purple AI — signaling SentinelOne's focus on continued, rapid innovation. Despite competition from established players like CrowdStrike, SentinelOne’s strong balance sheet ($1.1 billion in cash and no debt) offers financial flexibility for strategic moves.
However, the company remains unprofitable and investors need clear signs of profitability to sustain its +60% upside potential by 2025.
SentinelOne, Inc. (S) Stock Performance, 5-Year Chart, Seeking Alpha
Investor Events / Global Affairs:
The biggest event of the year for Amazon Web Services (AWS), Robinhood’s first-ever Investor Day, and the highly-anticipated OPEC+ meeting.
AWS re:Invent Conference
The AWS re:Invent conference kicks off this week in Las Vegas, running from Dec. 1 to Dec. 6. A keynote from AWS CEO Matt Garman on Tuesday will highlight key themes, including generative AI, cloud operations, and emerging technologies.
You can read more here as announcements from the event are released.
Amazon, Inc. (AMZN) Stock Performance, 5-Year Chart, Seeking Alpha
“This premier cloud computing event brings together the global cloud computing community for a week of keynotes, technical sessions, product launches, and networking opportunities”
Robinhood’s First Investor Day
Source: Robinhood / Assembled
Robinhood will host its first-ever Investor Day on Wednesday, December 4th.
Robinhood’s stock has surged over +196% YTD, driven by strong growth in trading fees and its innovative subscription model. Robinhood Gold now boasts over 2.2 million subscribers.
The recent acquisition of TradePMR positions Robinhood for growth in investment advisory and retirement assets — further solidifying its goal to have a long-standing presence in the personal finance journey of Gen Z and Millennial investors.
Robinhood, Inc. (HOOD) Stock Performance, 1-Year Chart, Seeking Alpha
“Robinhood has announced its first Investor Day, scheduled for December 4, 2024 in New York City. The event will be live streamed, with options for both institutional and retail investors and analysts to attend in person. During the event, Robinhood plans to share its long-term vision for the next decade and beyond, focusing on how this vision can drive customer and shareholder value.”
OPEC+ Meeting
Source: REUTERS / Lisa Leutner / File Photo
OPEC+ has postponed its policy meeting to Dec. 5, with discussions focusing on delaying a planned January 2025 output hike amid weaker global demand and rising non-OPEC production.
Key topics include the UAE’s 300,000 bpd production increase, part of a phased plan to unwind cuts through 2025. With Brent crude prices hovering in the $70-$80 range, the group's next steps will be closely watched.
“Oil futures rose on Monday, with upbeat manufacturing data from China lifting prospects for energy demand after a cease-fire between Israel and Iran-backed Hezbollah led to a drop in prices for the month of November.
Weakness on Friday came after the Organization of the Petroleum Exporting Countries and its allies — known together as OPEC+ — delayed until Thursday a meeting that had been set for Sunday.”
Major Economic Events:
The next Jobs Report has our full attention.
Monday (12/2): Construction Spending, ISM Manufacturing, S&P Final U.S. Manufacturing PMI
Tuesday (12/3): Auto Sales, Job Openings
Wednesday (12/4): ADP Employment, Factory Orders, Fed Beige Book, ISM Services, S&P Final U.S. Services PMI, St. Louis Fed President Musalem Speaks
Thursday (12/5): Initial Jobless Claims, U.S. Trade Deficit
Friday (12/6): Chicago Fed President Goolsbee Speaks, Consumer Credit, Consumer Sentiment (prelim), Non-Farm Payrolls, U.S. Hourly Wages, U.S. Employment Report, U.S. Unemployment Rate
What We’re Watching:
U.S. Jobs Report
Source: U.S. Bureau of Labor Statistics.
In October 2024, the U.S. economy added +12,000 jobs — SIGNIFICANTLY below the +113,000 forecasted and marking the weakest growth since December 2020.
This slowdown was attributed to strikes, notably at Boeing, and disruptions from hurricanes. However, the Bureau of Labor Statistics couldn't quantify the exact impact. The unemployment rate remained steady at 4.1% in the last reading.
This figure was also well below the average monthly gain of +194,000 over the past year — indicating a notable deceleration in job creation.
The unemployment rate is expected to hold steady at 4.1% and the median forecast for nonfarm payrolls has rocketed to +200,000 jobs.
If both of those projections are surpassed in a positive way — then a Santa Claus rally could receive quite the boost.
ISM Services PMI
Source: Institute of Supply Management (ISM)
The Services PMI® rose to 56% in October, up from 54.9% in September — marking its highest level since July 2022.
This indicates continued expansion in the services sector, as readings above 50% signal growth. Historically, this level corresponds to a +2.3% annualized increase in real GDP, highlighting the sector's strong contribution to overall economic momentum.
The full report can be read here.
Source: ISM Services PMI Report
The ISM Services reading this week is expected to come in at 57%.
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Cover Image Credit: Canadian Association of Radiologists (CAR)
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