Earnings season is concluding as we enter December 2025, and despite numerous challenges-including ongoing inflation, decelerating global growth, a record 43-day U.S. government shutdown, and geopolitical tensions-third-quarter results have surprisingly remained strong. With 95% of S&P 500 companies reporting, 83% have exceeded earnings expectations, and 76% have surpassed revenue forecasts. The sectors leading the way in earnings growth include technology, healthcare, and financials, while consumer staples, healthcare, and technology drove revenue beats. However, the stock market continues to exhibit volatility. In light of this, our recent commentary highlighted strategies for navigating this turbulent environment, as the S&P 500 managed a modest advance for its seventh consecutive month of gains, contrasting with a 1.5% decline in the Nasdaq, which ended a seven-month streak of increases.
Looking ahead, we are particularly focused on a few key developments. First, earnings reports are on the horizon. CrowdStrike is set to announce its third-quarter results on Tuesday, followed by Salesforce on Wednesday after the market closes. Analysts anticipate CrowdStrike will report improved annual recurring revenue, bolstered by the Falcon Flex sales model. Investors will be keen to hear how advancements in agentic AI are influencing demand for cybersecurity solutions as organizations strive to protect their systems against increasingly sophisticated threats. As of now, market expectations are for CrowdStrike to post earnings of 94 cents per share on revenue of $1.215 billion, according to LSEG.
Salesforce’s earnings will also draw significant attention, particularly concerning the adoption of its AI product, Agentforce. This initiative is crucial for countering the negative perceptions surrounding software-as-a-service (SaaS) companies due to the rise of generative and agentic AI. Salesforce is proactively updating its offerings to mitigate the pressures stemming from enterprise job cuts affecting its traditional licensing model. The market anticipates earnings of $2.86 per share on revenue of $10.27 billion for Salesforce.
In addition to earnings, retail sales data from Black Friday will likely be the most telling macroeconomic update next week. This holiday shopping season is pivotal for retailers, and consumer spending patterns can offer vital insights into economic health. A recent CNBC survey indicates that while 82% of Americans plan to shop during the holiday season, many intend to spend less, particularly on gifts, raising concerns about consumer sentiment.
Labor market developments will also be important, particularly after the November nonfarm payrolls report was postponed to December 16 due to the government shutdown. However, the ADP employment survey for November will be released on Wednesday and could carry more significance than usual given recent data shortages.
Finally, inflation metrics remain a critical area of focus. The September consumer spending and income report will be released on Friday, providing insights into inflation trends via the core PCE price index-the Federal Reserve’s favored inflation measure. Other notable economic indicators include the manufacturing report from ISM on Monday, and the production and capacity utilization data on Wednesday, which will shed light on manufacturing performance. The November ISM Services report on Wednesday will reveal the state of the services sector, adding further context for the economy.
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Original Source: https://www.cnbc.com/2025/11/30/here-are-the-4-big-things-were-watching-in-the-stock-market-this-week.html
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Publish Date: 2025-12-01 00:30:00
