Wall Street Brunch: Plenty Of Earnings To Kick Off December

Core Insights - Black Friday online sales reached a record $11.8 billion, marking a 9.1% increase year-over-year, exceeding expectations [10][11] - Salesforce is anticipated to report earnings with an EPS of $2.86 and revenue of $10.27 billion, amid concerns about its growth potential and competitive positioning in the AI landscape [3][4] - The stock of Salesforce is currently trading at a historically low valuation, below the S&P 500, which presents a potential buying opportunity due to its predictable business model and AI growth prospects [4] Company Earnings Reports - Salesforce (CRM) is set to report earnings on Wednesday, alongside Snowflake (SNOW), Dollar Tree (DLTR), and C3.ai (AI) [6] - Other companies reporting include MongoDB (MDB) on Monday, and CrowdStrike (CRWD), Marvell (MRVL), and GitLab (GTLB) on Tuesday [5] Economic Indicators - The Federal Reserve is expected to cut rates by a quarter point on December 10, with an 85% probability, influenced by upcoming core PCE inflation figures [8] - Preliminary Michigan sentiment figures for December will provide additional insights into consumer conditions [9] AI and Consumer Behavior - AI traffic to U.S. retail sites surged by 805% year-over-year, indicating a significant shift in consumer behavior as shoppers increasingly utilize generative AI for product research and deal-finding [11] - ChatGPT, celebrating its third anniversary, has seen rapid growth, with projections of 220 million subscribers by 2030 and a valuation reaching $500 billion [12][13]