(Investing.com) - Equity market investors continued to show optimism on the post-pandemic economic recovery this past week, by primarily buying cyclical shares that they believe will benefit the most when the virus is behind us.
The Dow Jones Industrial Average and S&P 500 rose to record highs on Friday, helping the major averages to post their fourth weekly gain in five weeks. Energy was the best-performing S&P 500 sector, gaining 5.4% on Friday.
Amid this optimism, investors are also hoping that politicians will reach some sort of agreement in Washington on new stimulus measures, especially when COVID infections in the US are rising at a record pace, forcing states to initiate new lockdown measures.
Salesforce.com
Salesforce.com (CRM) will host its Investor Day on Tuesday, Dec 8. The event comes after the cloud-based, customer relationship management software company announced its acquisition of Slack Technologies last week, a transaction for which investors have expressed a lot of reservations.
CRM Weekly Trailing 12 Months.
Shares of Salesfore.com have lost more than 8% during the past week on concerns that the San Francisco-based company's most expensive deal to date won’t bring the kind of synergies and competitive advantage that founder and CEO Marc Benioff is trying to achieve. The stock closed on Friday at $225.86, after gaining more than 2% on the day.
Adobe Systems
Another stock that will come under investor scrutiny this coming week is Adobe Systems. The software manufacturer, whose product lineup includes Photoshop, will release its fiscal 2020, fourth quarter earnings on Wednesday, Dec 9, after the close. Wall Street expects $2.66 earning s per share (EPS) and $3.36 billion of revenue.
Broadcom
Broadcom will report its fiscal fourth quarter 2020 earnings after the market closes on Thursday, Dec 10. Analysts are expecting $6.24 a share profit on projected sales of $6.43 billion.
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