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]

Mortgage rates are falling and that's sparking the biggest refinancing wave since early 2022. Bess Freedman, CEO of Brown Harris Stevens, a leading luxury brokerage in New York and South Florida joined Bloomberg Open Interest to talk about the trend and how an FOMC rate cut will impact the real estate market. ...