Market Indexes Stay Mostly Green Ahead of ADP Wednesday

Tuesday, December 2, 2025

Major market indexes spent nearly all day in the green today, but did bounce around a bit. Bitcoin finally caught a bid this afternoon, rising nearly +6% to 91.4K, helping struggling Strategy MSTR gain over +5% today. Otherwise, the tech AI infrastructure trade seemed to resume without much new data hitting the tape. The Dow gained +185 points, +0.39%, the S&P 500 was up +16 points, +0.25% and the Nasdaq +137, +0.59%. The small-cap Russell 2000 was down -0.17% on the day.

Tomorrow morning we see things pick up, with private-sector payrolls for November expected from Automatic Data Processing ADP. The consensus estimate is for around 40K new jobs in the private sector having been created, below the already slim 42K produced the prior month. Still, we haven’t seen back-to-back positive ADP jobs numbers since April and May of this year, illustrating the difficulties within the domestic labor market in 2025.

Imports and Exports, along with Industrial Production and Capacity Utilization figures, are also due this Hump Day. These reports reflect September tallies, as government reports work to get current from the 6+-week government shutdown this fall. Both sets of data are expected to post slight gains from the previous month, but nothing to write home about.
 

Earnings Results After the Bell: CRWD, AEO, MRVL

Cybersecurity major CrowdStrike CRWD reported slight beats on both top and bottom lines for Q3 after today’s close, with earnings outpacing estimates by 2 cents to 96 cents per share, on $1.23 billion in revenues which surpassed the $1.21 billion in the Zacks consensus. Revenue growth remained over +20% year over year, led by higher-than-expected subscriptions, but the stock is not moving much in late trading — after gaining +50% year to date.

American Eagle Outfitters AEO is performing well in the late session following its Q3 earnings beat by a solid dime to 53 cents per share, with record-high quarterly revenues of $1.36 billion outpacing the $1.32 billion anticipated. Comps came in at +4% for the quarter and have guided higher, as have full-year adjusted operating income. Shares are up +11% in today’s after-market.

Marvell Technologies MRVL also posted higher earnings and sales than expected in its Q3 numbers this afternoon, but only slightly above high year-over-year expectations: earnings of 76 cents per share on revenues of $2.08 billion — higher than the 75 cents and $2.06 billion projected. Revenue guidance was also bumped slightly higher on minor Data Center and Gross Margin beats, but shares are flat on the news.

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