1. New, seasonably bullish month starts higher after Wall Street closed out a strong November with a powerful Federal Reserve-driven rally Wednesday. Fed Chairman Jerome Powell says smaller interest rate hikes ahead are likely after four straight 75-basis-point increases. That’s despite Powell also adding he wants to see more progress on inflation.
2. The Fed’s favorite inflation gauge in October was cooler than estimates Thursday morning. Much better than the prior month. The government’s monthly employment report is out Friday.
3. Club holding Salesforce (CRM) saw the departure of co-CEO Bret Taylor, leaving co-founder Marc Benioff as sole CEO, again. The real reason for Taylor’s exit really has to do with the massive opportunity he has from his experience as Twitter chairman. Salesforce shares sink 7% in the premarket. But I think this is an overreaction and overlooks solid quarterly results.