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Market Action For Last Week
The major indexes posted their best week since June, recovering from mid-month volatility. The S&P 500 erased nearly all losses from earlier in November, closing just shy of its record high, while the Nasdaq snapped a monthly winning streak despite a strong weekly surge.
ETF / IndexFriday, Nov 21 CloseFriday, Nov 28 ClosePoint Change% Gain/LossS&P 500 (SPY)$660.46$684.90+$24.44+3.70%Nasdaq-100 (QQQ)$562.44$590.00+$27.56+4.90%Russell 2000 (IWM)$238.10$245.00+$6.90+2.90%
(Note: ETF closing prices are derived from underlying Index performance and percentage gains reported in market summaries).
Upcoming Major Economic Reports and Potential Market Moving Events
Monday, December 1
- ISM Manufacturing PMI (Nov): A key indicator of industrial health; expected to show if the manufacturing contraction is easing.
- S&P Global Manufacturing PMI (Final): Secondary reading on factory activity.
Tuesday, December 2
- JOLTS Job Openings (Oct): Critical labor market data watched closely by the Fed for signs of slack.
Wednesday, December 3
- ADP Non-Farm Employment Change: A precursor to Friday's major jobs report.
- ISM Services PMI (Nov): Measures the performance of the services sector, which drives the bulk of the US economy.
- Fed Chair Powell Speaks (Unconfirmed/TBD): Watch for any scheduled governors' speeches regarding the December rate decision.
Thursday, December 4
- Initial Jobless Claims: Weekly health check on the labor market.
- Trade Balance (Oct): Updates on the trade deficit/surplus.
Friday, December 5
- Non-Farm Payrolls (Nov) & Unemployment Rate: The most significant economic release of the month. A strong number could dampen rate cut hopes, while a weak number could reignite recession fears.
- Consumer Sentiment (Prelim): Insight into consumer confidence heading into the holiday shopping season.
Upcoming Major Stock Earnings Reports
Tuesday, December 2
- Zscaler (ZS): Post-market.
- CrowdStrike (CRWD): Post-market.
- Marvell Technology (MRVL): Post-market.
- Box Inc. (BOX): Post-market.
Wednesday, December 3
- Salesforce (CRM): Post-market. A critical bellwether for enterprise software spending and the "Agentforce" AI initiative.
- Snowflake (SNOW): Post-market.
- Synopsys (SNPS): Post-market.
- Dollar Tree (DLTR): Pre-market.
Thursday, December 4
- Kroger (KR): Pre-market.
- Dollar General (DG): Pre-market.
- DocuSign (DOCU): Post-market.
- Hewlett Packard Enterprise (HPE): Post-market.
- Lululemon (LULU): Post-market.
Market Outlook: Bullish (Caution into Friday)
I am Bullish for the next 30 days. The S&P 500 (SPX) reclaiming the 6849 level and erasing monthly losses indicates strong institutional buying pressure heading into the traditional "Santa Rally" period. The market has digested the mid-month volatility and is positioning for year-end window dressing. However, caution is advised specifically for Friday, Dec 5, as the Non-Farm Payrolls (NFP) report is a binary event that could temporarily spike volatility (VIX). Traders should look to buy dips in high-quality tech names (like CRM or CRWD) if they post solid earnings but get sold off on general macro fears. The trend bias remains positive as long as SPX holds above the 6790 breakout level.