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Stocks Close Mixed With Jobs Report in Focus

The stock market was mixed on Wednesday as investors braced for highly anticipated jobs report this week. Meanwhile, minutes from the Federal Reserve’s December meeting showed some support on the gradual cutting of interest rates in 2025 amid inflationary pressures.

Overall, S&P 500 increased 0.2% to 5,918, while NASDAQ fell 0.1% to 19,479.

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Chart of the Day

Here is the one-year chart of Cloudflare (NET) as of December 3, 2024, when the stock was at $105.

Cloudflare is starting to see momentum in its sales force, and is expecting for further improvement in the coming quarters. Sales productivity has improved, with more account executives moving to Enterprice sales, considering its ability to sell bigger deals. This could mean that an acceleration in sales lies ahead – a big positive.

Last quarter, Cloudflare reported 25% profit growth on 28% revenue growth, driven by strong demand for security and AI solutions, particularly in the APAC region, which saw a 38% revenue increase.

Cloudflare is well-positioned for increased success into 2025.

NET is part of our Growth Portfolio.

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