Here are the 4 big things we're watching in the stock market this week

Earnings season is coming to an end as we kick off the final month of 2025. Third quarter results were largely positive despite many headwinds, including persistent inflation, slowing global growth, a record 43-day U.S. government shutdown and geopolitical conflicts. Of the S&P 500 companies, 95% beat earnings expectations, 83% beat earnings expectations, and 76% beat revenue expectations. Earnings gains were driven by technology, healthcare and finance, while revenue gains were driven by consumer staples, healthcare and technology. On the other hand, fluctuations in the stock market continue. While the S&P 500 gained for the seventh consecutive month in November and the Nasdaq lost 1.5% in November, breaking its seven-month winning streak, we discussed how we should approach such a difficult situation in our commentary on Friday. Here's what we're most focused on next week: 1. Earnings: Across the portfolio, CrowdStrike will report third-quarter earnings results on Tuesday after the close, while Salesforce will report after the close on Wednesday. For CrowdStrike, Street wants annual recurring revenue to accelerate, leveraging the Falcon Flex sales model. We want to learn more about how the age of agency AI is driving demand for cybersecurity as companies seek to both secure their workloads and defend against increasingly sophisticated, automated attacks. The Street expects earnings of 94 cents per share and revenue of $1.215 billion as of Friday, according to LSEG. At Salesforce, we want to learn more about the adoption of Agentforce, the AI product that is key to reversing the negative outlook toward software-as-a-service (SaaS) companies resulting from the advancement of generative and agency AI offerings. The company is not sitting idle, but is trying to revamp its offerings to offset the pressure that corporate headcount reductions could put on the traditional seat licensing model. The Street expects earnings of $2.86 per share on revenue of $10.27 billion as of Friday, according to LSEG. 2. Black Friday: Of all the macro-level updates next week, last weekend's sales reports may be the most impactful. Not only because of how important this holiday shopping season is for retailers, but also because spending trends will provide important information about the consumer's health. According to a recent CNBC poll, 82 percent of Americans say they still plan to shop this holiday season, but the majority of spending will occur outside of major occasions. Four in ten people plan to spend less, with the biggest cuts being on gifts. 3. Workforce update: The November nonfarm payrolls report, usually published on the first Friday of the month, has been postponed until December 16 due to the government shutdown. But the November ADP employment survey comes out Wednesday, and given the lack of data over the past few months, it's expected to carry a little more weight than usual. 4. Inflation reading: The September consumer spending and income report was released on Friday, and although it is a month late and reports a period two months earlier, it is still important as it will give insight into the inflation trend through the underlying PCE price index (the Fed's preferred inflation measure) found in the report. Other major releases include the November ISM manufacturing report released on Monday, the September industrial production and capacity utilization report released on Wednesday, and the October factory orders report released on Friday; all of which will provide insight into manufacturing trends. We will also take a look at the state of the services economy with the November ISM Services report, which will be published on Wednesday. (See here for a complete list of stocks in Jim Cramer's Charitable Trust.) When you subscribe to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trading alert before buying or selling a stock in his charitable foundation's portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after issuing the trading alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH THE DISCLAIMERS. NO CIVIL OBLIGATIONS OR DUTIES EXIST OR SHALL BE RESULTING FROM YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT GUARANTEE IS MADE.