🚀 November was a tough month for markets: volatility remained at high levels, investors were closely monitoring macroeconomic data and corporate earnings, and many technology and AI stocks experienced fluctuations amid political and economic uncertainty.

However, the month ended on an optimistic note. Indices turned upward, broke key resistance levels, and show that buyers have returned to the market. Market breadth, measured by the number of advancing versus declining stocks, is also expanding — a key signal that a potential rally in December could continue.

Investors should pay attention to several key factors that may determine market dynamics in the coming weeks.

1. AI Week: Amazon restarts the game

This week, AWS re:Invent begins, the largest event in corporate technology and artificial intelligence. Amazon plans to showcase new AI chips, corporate AI tools, and expanded cloud services.

This week is important not only for AMZN but also for the entire cloud and tech sector: Microsoft (MSFT), Google (GOOGL), Snowflake (SNOW), Cerado (CRDO) will be under investor scrutiny. The key question: how will Amazon maintain cloud leadership while pushing its “AI-first” strategy?

If the focus shifts to AI and enterprise solutions, it may boost demand for infrastructure companies providing computing power, GPUs, and server solutions for AI workloads. Any demonstration of new technologies or unexpected product announcements can trigger either strong positive momentum or corrections in case of underperformance.

2. AI Companies’ Reports: checking growth pace

This week, reports from key companies reflecting AI adoption and the state of the corporate segment are expected: Snowflake, Okta, Salesforce, MongoDB.

• Snowflake (SNOW) — a barometer of AI transformation in enterprise software. Revenue growth and active AI module adoption will show investors how fast businesses adapt.
• Salesforce (CRM) — indicative for corporate AI tools; analysts will assess subscription growth and new products in sales automation.
• Okta (OKTA) — market reaction to cybersecurity sector slowdown and new AI security initiatives will be watched.
• MongoDB (MDB) — an indicator of readiness for scalable AI solutions and large data operations.

Market reactions to these reports will indicate whether the sector is ready to continue leading in December or if investors prefer a pause and profit-taking.

3. Macro Data: the week that affects the Fed

On the macro front, markets will watch two key indicators:

• ADP — first estimate of the labor market, showing employment trends outside agriculture.
• PCE (Personal Consumption Expenditures) — the Fed’s favorite inflation measure.

If inflation continues to cool, investors will increase bets on a Fed rate cut on December 10. A rate reduction could fuel a December rally, especially in growth and tech sectors.

4. Leaders to watch

Amid the current recovery, several sectors and companies stand out:

• AI Infrastructure: VRT, TSM — showing early entry points for trend continuation.

• Energy: EXE — notable breakout with solid fundamentals; useful for diversification and capital protection.
• Metals & Gold: WPM — safe-haven assets for hedging risk and volatility.
• Retail — early reversals before the holiday sales season; companies may see growth due to consumer activity.

EXE stands out with both technical signals and strong fundamentals. AI companies like VRT and TSM provide opportunities to enter a continuing trend at early signs of buyer activity.

5. Key takeaways

The market remains above key averages, buyers are active, and Fed rate expectations are favorable for growth. The main intrigue is how the market will digest AI events and PCE data.

If macro data and corporate reports do not spoil the overall picture, December could start with upward momentum, and a potential rally may strengthen in the first weeks of the month.

🔥 Investors are advised to:

• Watch market breadth and the number of advancing stocks.
• Monitor infrastructure and tech companies’ dynamics after AI presentations.
• Manage risks and diversify positions, especially in high-volatility sectors.