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S&P 500 6,032 (+0.56%) Nasdaq 19,218 (+0.83%) Dow 44,911 (+0.42%) Bitcoin 97,289 (+2.21%) |
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After the S&P 500 posted its best month of 2024, investors have a host of economic data this week, culminating with the U.S. jobs report on Friday. This will help determine whether the rally can continue through December, and to guide on the Federal Reserve’s next decision on interest rates. |
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Working progress: Analysts are forecasting a significant month-over-month improvement in the headline non-farm payroll print for November (compared to just 12,000 in October’s hurricane and strike-impacted month), which would boost expectations of a soft landing.
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Catalysts for the month: Other labor market data precedes this, with JOLTS job opening figures out Tuesday and the monthly ADP employment change numbers on Wednesday. Today sees the release of the ISM Manufacturing Purchasing Managers Index (PMI), with Wednesday providing the Services equivalent.
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2. Can Zscaler Secure Investors’ Trust?
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After the market closes today, Zscaler (NASDAQ:ZS) is due to release quarterly results. Since first introduced to the Foolish universe via Stock Advisor in 2018, it’s beaten the S&P 500 by 287% (our latest SA recommendation is due Thursday). |
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Strong topline growth forecasted: Revenue is expected to hit $605.6 million, up 21.9% versus the same quarter last year. In August, Dan Caplinger highlighted that management set a “low bar … for fiscal 2025” and shareholders have to hope Zscaler will easily surpass this.
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Momentum into 2025: Investors will be focused on the progress made on integrating AI into the cybersecurity product suite, as this should help to retain existing clients and attract new ones next year.
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3. Stellantis CEO Departs
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Stellantis (NYSE:STLA) CEO Carlos Tavares surprised the market by abruptly resigning overnight, in another sign of the pressure on the automotive industry right now. |
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Time for change: The company issued a profit warning in 2024’s annual results released in late September, noting weaker demand in the U.S. and higher competition in China.
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An industry-wide issue: Bloomberg has reported Nissan Motors CFO Stephen Ma is to step down from his position, with the stock down almost 35% this year. This highlights the global slowdown in demand the vast majority of auto manufacturers are facing.
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4. Next Up: Notable Q3 Earnings |
A long-time Rule Breakers rec – up 4,709% since January 2009 – Salesforce (NYSE:CRM) will release earnings on Tuesday, with revenue forecasted at $9.34 billion and earnings per share (EPS) of $2.43, both of which would be an increase from Q3 2023. Investors should hope for continued gains in operating leverage and sales growth. |
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Targeting large new markets: Veeva Systems (NYSE:VEEV) results are due Thursday, with earnings expected to jump 17.9% to $1.58 per share. Fool analyst Buck Hartzell recently noted that thanks to entering the horizontal enterprise applications marketplace, “their potential addressable market just got much, much bigger.”
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Getting the basics right: On the same day, Kroger (NYSE:KR) earnings will come out, with a modest projected 3.2% increase in EPS at $0.98. However, Dividend Investor analyst Anthony Schiavone flags that “at a time when AI and technology stocks are powering the market higher, the Cincinnati-based grocer has quietly generated annualized total returns of 20% over the last five years.”
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This Cyber Monday, we’re asking: When has a company broken your trust as a consumer, and now you’ll never invest in them? Discuss with friends and family, or become a member to hear what your fellow Fools are saying! |
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