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Salesforce Earnings, PCE Inflation Data: What to Watch This Week
29 Nov
Summary
- Salesforce set to report Q3 earnings with steady growth expected.
- Fed's preferred inflation gauge, PCE, to be released on Friday.
- November auto sales data anticipated to show a slight increase.
This week presents a significant focus on corporate earnings and key economic indicators. Salesforce is scheduled to announce its third-quarter financial results on Wednesday. Analysts project a continuation of the previous quarter's performance, marked by robust growth and consistent demand, with only minor shifts in profitability anticipated. The recent acquisition of Informatica is expected to contribute approximately $1.7 billion to revenue over the coming year, although increased spending on its AI agent force product may exert pressure on profit margins.
Economically, all eyes will be on Friday's release of the Personal Consumption Expenditures (PCE) price index, the Federal Reserve's favored measure of inflation. Forecasts suggest that both total and core PCE will remain unchanged month-over-month at 0.3% and 0.2% respectively. This indicates a stable, albeit ongoing, rise in overall consumer prices, mirroring the trend from the preceding month.
Furthermore, the automotive sector will see its November sales data released on Tuesday. Wall Street anticipates this figure to reach 15.4 million units, representing a small but positive increase in demand for new vehicles compared to October. This suggests a consistent pace in consumer purchasing of automobiles.
