Wall Street saw more
tech-fueled volatility in the first couple days of December, with stocks falling sharply on Monday before bouncing back on Tuesday -- in part due to
Bitcoin's (BTC) selloff and
subsequent rebound. Weaker-than-expected
ADP employment data reignited December rate cut hopes on Wednesday, while Thursday was
fairly muted as investors brushed off more
jobs data, which included 2025 layoff plans reaching their highest level since 2020. On Friday, all three major benchmarks are headed for modest weekly wins, as investors unpack today's
soft inflation reading.
Notable Earnings Take Flight
There were plenty of corporate earnings to sift through this week. On the AI front, Credo Technology Group (CRDO), MongoDB (MDB), Marvell Technology (MRVL), and Toast (TOST) all rose after their respective reports, while Snowflake (SNOW) plummeted after operating margins guidance disappointed investors.
Meanwhile, department store chain Macy's (M) and discount retailers Dollar General (DG) and Five Below (FIVE)also announced quarterly results. Also fresh out of the confessional were Rubrik (RBRK), DocuSign (DOCU), and Salesforce (CRM).
More Companies Making Noise
Synopsys (SNPS) made headlines after reports of its partnership with Nvidia (NVDA), which has invested $2 billion in the electronic design automation name. Elsewhere, pharma giant Eli Lilly (LLY) slashed the cost of its weight-loss drug Zepbound, and oil stocks entered the spotlight amid a slew of geopolitical developments.
Another Busy Fed Week
All eyes are on the Federal Reserve's upcoming interest rate decision, scheduled for Wednesday of next week. Aside from that, there are a handful of economic indicators scheduled for release, as well as earnings reports from Broadcom (AVGO), Costco (COST), GameStop (GME), and more.
In the meantime, learn about the potential implications of the S&P 500's (SPX) seven-month win streak, per Schaeffer's Senior Quantitative Analyst Rocky White. Plus, Senior V.P. of Research Todd Salamone points out three reasons bulls are favored right now.
