Investors brace for another busy week after a strong market close, with the Nasdaq (^IXIC) surging over 2.5% last week, fueled by Amazon’s (AMZN) earnings. The S&P 500 (^GSPC) and Dow Jones (^DJI) rose modestly by 1%.

**AI and Earnings in Focus** Palantir (PLTR), AMD (AMD), Super Micro (SMCI), and Constellation Energy (CEG) headline this week’s earnings deluge, alongside dozens of S&P 500 companies.

**Economic Data Gaps** Ongoing government delays may postpone October’s jobs report for the second straight month, leaving ADP’s private payrolls data as the key labor market update Wednesday. ISM and S&P Global’s PMI readings, plus Michigan’s preliminary November consumer sentiment, round out the week.

**Fed Uncertainty Looms** Markets price in a 63% chance of a December 25-bps rate cut, down from 95% last week, after Fed Chair Powell called further easing “far from a done deal.” Dissent emerged, with one official pushing for 50 bps and others opposing cuts entirely. BNP Paribas expects continued cuts, while Bank of America sees a pause, noting Powell’s weakened grip on FOMC consensus.

**U.S.-China Deal Optimism** President Trump hailed a “12 out of 10” trade agreement covering rare earths, soybeans, and fentanyl, though details remain sparse.

**Key Calendar Highlights** - **Monday**: ISM Manufacturing PMI, auto sales; Earnings: PLTR, VRTX, SPG - **Tuesday**: JOLTS job openings; Earnings: AMD, UBER, PFE, BP - **Wednesday**: ADP employment, ISM Services PMI; Earnings: TM, MCD, QCOM - **Thursday**: Jobless claims, productivity data; Earnings: AZN, ABNB, WBD - **Friday**: Michigan sentiment (delayed jobs report likely); Earnings: CEG, KKR

Volatility may persist as markets weigh Fed policy shifts against seasonal November strength.