What to Expect in Markets This Week: Cyber Monday Sales; Labor Market Data; Earnings from Salesforce, CrowdStrike, and More

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After a strong, short Thanksgiving week for U.S. stocks, a busy schedule of economic indicators and corporate earnings awaits.

Private sector payrolls for November could prove a highlight, though market watchers will have to wait until later in December to get the government's latest monthly jobs report, which was delayed by the government shutdown. Reports on consumer credit and sentiment, along with fresh data on the manufacturing and services sectors, are also expected.

Several large tech companies, including customer relationship management software leader Salesforce, cybersecurity provider CrowdStrike, and Marvell Technology, are set to report earnings this week. Reports from dollar stores Dollar Tree and Dollar General could provide insights on consumer spending.

Read to the bottom for our calendar of key events—and one more thing.

Cyber Monday Sales, Sentiment Data to Shine Spotlight on Consumers

This is set be another important week for America's retailers, with online sales from the five-day stretch from Thanksgiving through Cyber Monday expected to total $78 billion, according to Salesforce.

Data scheduled for release Friday could also shine a spotlight on how consumers are feeling, with the first reading of the University of Michigan consumer sentiment survey for December. Later on Friday, the Federal Reserve’s consumer credit report could offer insights into how much debt American shoppers are taking on.

While some fresh data on private payrolls will become available this week, investors will have to wait a bit longer for the government's next monthly jobs report after its release was pushed back to Dec. 16. The private-sector ADP employment report, scheduled for Wednesday, comes after a stronger than expected report in October.

Federal Reserve Chair Jerome Powell is set to deliver remarks on Monday evening amid growing optimism about a rate cut when the central bank meets the following week.

Big Software Names and Dollar Stores Report This Week

Salesforce’s earnings on Wednesday could inject more enthusiasm into the AI trade after the software provider laid out a strong revenue forecast pointing to strong demand for its AI offerings. Custom semiconductor solutions provider Marvell Technology, database provider MongoDB, and data storage firm Pure Storage are also set to release results that could reflect a boost from AI-related demand.

Cybersecurity firm CrowdStrike reports on Tuesday after it delivered a better-than-expected forecast for annual recurring revenue in the prior quarter. Security firms Snowflake and Okta are also scheduled to report this week. Results from dollar stores Dollar Tree and Dollar General could offer more insights on shifting consumer preferences.

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This Week’s Calendar

Monday, Dec. 1

• Cyber Monday

• ISM manufacturing PMI (November)

• More Data to Watch: S&P final U.S. manufacturing PMI (November)

• Federal Reserve Officials Speaking: Fed Chair Jerome Powell

• Key Earnings: MongoDB (MDB)

Tuesday, Dec. 2

• Federal Reserve Officials Speaking: Fed Vice Chair for Supervision Michelle Bowman

• Key Earnings: CrowdStrike (CRWD), Bank of Nova Scotia (BNS), Marvell Technology (MRVL), Pure Storage (PSTG), Okta (OKTA), GitLab (GTLB)

Wednesday, Dec. 3

• ADP employment (November)

• More Data to Watch: Import price index (September), ISM services PMI (November), S&P final U.S. services PMI (November)

• Key Earnings: Salesforce (CRM), Royal Bank of Canada (RY), Snowflake (SNOW), Dollar Tree (DLTR)

Thursday, Dec. 4

• Initial jobless claims (Week ending Nov. 29)

• Federal Reserve Officials Speaking: Fed Vice Chair for Supervision Michelle Bowman

• Key Earnings: Toronto Dominion Bank (TD), Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CM), Kroger (KR), Hewlett Packard Enterprise (HPE), Ulta Beauty (ULTA), Dollar General(DG)

Friday, Dec. 5

• Consumer sentiment - preliminary (December)

• More Data to Watch: Consumer credit (October)

• Key Earnings: Victoria’s Secret (VSCO)

One More Thing

The holiday season is here and if your plans include giving gifts to family and friends, you could qualify for a tax break. Investopedia’s Trina Paul has more on the rules and limits for the IRS’s gift tax exclusion here.

Read the original article on Investopedia