The Weekend RIP: Is Software Still Eating The World?

Tale of the Tape

Good evening, folks. Welcome back to the market of stocks. 

The spotlight is on software as we close November 2020. DocuSign, Salesforce, Snowflake, and Zoom Video are all scheduled to report earnings this week. 

Is software still eating the world? Time will tell.

November’s unemployment numbers come out on Friday. The U.S. reported an unemployment rate of 6.9% in October. Did we decrease in November? Who knows. 🙏

2020 has been unprecedented. Check out this chart of the US unemployment rate going back to 1950. 🙃

And here’s the weekly S&P 500 chart:

 The S&P 500 closed at an all time high. How about that?

S&P 5003,638+2.27%
Russell 20001,855+3.92%
Dow Jones29,910+2.21%
Weekly Percent Changes

Software Spotlight 🔦

It’s been over 9 years since Marc Andreessen shared, Why Software Is Eating The World.

In 2020, software literally ate the world. We saw the reality of a “work-from-home economy” and flashed forward a digital decade.

Software stocks took off. 

Zoom zoomed. The Company will report earnings on Monday after the close.

$ZM is up 593% so far this year. Here’s the wild weekly chart:

Salesforce is scheduled to report earnings on Tuesday, DECEMBER 1 AMC. Last week, the Company was “in talks” to acquire Slack. Maybe Salesforce seals the deal??

We’ll see where $CRM sails.

Snowflake reports earnings early Wednesday morning. It’ll be the Company’s first earnings announcement since its September IPO. 

On Friday, $SNOW stormed to a new all time high. Here’s the daily chart:

DocuSign will report earnings Thursday after the close. $DOCU has dashed 206% so far in 2020. damn.

International Love

The 4 major US Indices closed at a new weekly all time high but, it’s not just the US that’s showing strength. It’s International Love. 🌎 ❤️

The Global Dow, which is the 150 *most important corporations from around the world broke out to a new all time high.

JC Parets shared a chart on Stocktwits early Sunday morning:

The technician also said:

We saw more new highs in November on both the New York Stock Exchange and the Nasdaq than we’ve seen since early 2018.

Should bears beware? Place your bets…  

most important according to senior editors at The Wall Street Journal and Dow Jones Newswires.

Sunday Links:

📰 Sunday Reads: Value Investing – A History

🦢 Land Rover’s Long-Lasting Patent Dispute with VW Group Turns Ugly

😅 Broncos Will Play Saints With No Quarterback Due to Covid-19 Concerns

🌲 Billionaire Benko Beats Red Bull King for Coveted Austria Forest

💁‍♀️ Vanderbilt’s Sarah Fuller Achieves College Football Milestone With Kickoff

The Week Ahead

And now a brief and well-organized look ahead at the trading week beginning Monday, November 30th, 2020:

Economic Calendar:

  • 12/1  November ISM Manufacturing Index (10 AM ET)
  • 12/3  November ISM Non – Manufacturing Index (10 AM ET)
  • 12/4  November Unemployment Numbers (8:30 AM ET)

Here’s the full Economic Calendar provided by Briefing

Earnings Calendar:

Be sure to know when your stocks are reporting. Here’s the earnings calendar