Watch out for Big Tech’s earnings starting tomorrow as those reports will help drive markets this week.
Why it matters: Collective earnings and revenue from Apple, Amazon, Microsoft, Google parent Alphabet and Facebook parent Meta have boosted the entire market since the start of the pandemic, MarketWatch notes.
• Slowdowns — which several of the companies have already warned about — could drag down investor sentiment and the market as a whole.
By the numbers: Together, the five companies control 23% of the S&P 500’s market cap, according to Dow Jones Market Data Group.
• Investors are anticipating price swings of the companies anywhere from 4% to 13% after they report, according to Bloomberg.