Image Source: Market indices closed at or near session lows today, in what was a mixed overall day. We looked good in the morning hours, but slowly saw gains erode away by late afternoon. The Dow closed higher, +13 points or +0.04%, while the S&P 500 slipped a mere 4 points, -0.095%. The Nasdaq was the big loser on the day and still only dropped -0.16%, while the small-cap Russell 2000 won the day with a whopping +0.61%.We’re now one day from closing out the month of November, and gains to this point have been excellent: the Dow +7.22%, the S&P +8.73%, the Nasdaq +10.84% and the Russell +8.59%. It helps that cycle lows came toward the end of October, so that markets could get some real traction when the new month started. But where are we headed from here?The Beige Book for November from the Fed gave us a good synopsis, with seven of the 12 designated regions experiencing slightly downward growth for the month, with only Richmond, Atlanta and Chicago growing slightly. Demand for labor continued to ease a bit, with most regions seeing flat to modestly upward overall employment. Prices moderated over the course of the month, but remained at higher levels historically. Slowing demand on relatively flat pricing appears to be the main story here.Salesforce.com () beat expectations on both top and bottom lines for its Q3 earnings report today, with earnings of $2.1 per share outpacing the $2.06 in the Zacks consensus. Revenues were a smidge higher than expected to $8.72 billion in the quarter. Guidance for next quarter has been raised on both top and bottom lines, past current consensus on the high end of the range for both. The company has no negative earnings surprises going all the way back to our recalibration of stock-based earnings compensation. Shares are up +7% in late trading on the news.Zacks Rank #2 (Buy)-rated Snowflake () shares are performing even better: up +12% in the after-market on earnings of 25 cents per share on $734.2 million in quarterly revenues, as compared with 16 cents per share on $710.5 million in sales, respectively. Revenues also grew +32% year over year on +34% product revenue growth. The Bozeman, MT-based cloud data-as-a-service company has now beaten earnings estimates for 10 straight quarters.PVH (), the Zacks Rank #2-based parent company of Calvin Klein and Tommy Hilfiger, posted mixed results this afternoon for its Q3 earnings report. The company reported earnings of $2.90 per share, which outpaced the $2.72 in the Zacks consensus, on $2.36 billion in quarterly sales, which was short of the $2.39 billion expected. Quarterly earnings guidance is slightly below expectations for Q4, but slightly above for the full year from what analysts were expecting. Shares are trading -4% lower on the news.More By This Author:Home Prices, Consumer Data, Q3 Earnings & Goodbye To Charlie Munger Successful Cyber Monday; Markets Take ProfitsMarket Rally Takes Us Into Thanksgiving
Markets Mixed As November Trading Nearly Over; CRM, SNOW Beat; PVH Mixed
