Global Focus on Fed Rate Decision, Apple, Microsoft, and Meta Earnings Reports Upcoming

The U.S. stock market's been through a bumpy ride lately. The NASDAQ and the S&P 500 have both been down for two weeks in a row. Folks are wonderin' if the market's gonna keep slidin' or if we're due for a turnaround.

We've got a "make-or-break" week ahead! The Federal Reserve's gonna announce their interest rate decision, and we've got big names like Apple, Microsoft, and Meta reportin' their earnings. So, what should we keep our eyes on?

On the macro side, the Fed's decision is comin' this Wednesday. The June CPI data came in as expected, but it's still above the target, hinting at possible rate cuts later this year. My hunch? They might hold rates steady for now but could be setting the stage for a cut come September.

Now, let's take a closer look at the S&P 500 chart to see when this pullback might end. On the weekly chart, the price has just pulled back to the uptrend line, offering some support. Comparing this to previous instances where we saw a "bearish engulfing" pattern followed by a decline, we typically see at least three weeks of pullback. So, there's a good chance we'll continue to see some downward movement this week. However, ifthepricefailtoclose below the uptrend line and the downward momentum starts to weaken, or if we see a bullishcandlenext week or a rising trend on the daily chart, then the likelihood of this pullback ending increases.

Now, let's talk about the individual stocks to watch. First up, Microsoft. Can they boost market confidence with their strong showin' in cloud computing and AI? Even though analysts are raisin' their earnings forecasts, there's growing skepticism about the returns on tech stocks' AI investments. Microsoft needs to manage their spendin' carefully to avoid any pitfalls.

On the technical side, Microsoft is also in a short-term pullback within an overall uptrend. The price has now dipped into the area marked by previous high-volume candlesticks, which is providing some support. If the upcoming earnings report surprises positively, it could push the stock price above the current pullback's downtrend line, potentially starting a new upward phase. However, if the pullback isn't over, there's still a high chance the stock could continue to fluctuate and move lower.

Next, Meta's droppin' their Q2 earnings on Wednesday. The market's expectin' a solid bump in revenue and earnings per share. Key points to watch include user growth, strong demand in the ad market, capital expenditures, and progress in their AI ventures. Plus, there's some buzz about a potential hefty fine from the EU, so investors will be all ears during the earnings call.

And don't forget about Apple, releasin' their earnings on Thursday. Keep an eye on iPhone sales in China and any updates on their AI strategy—these could have a big impact on their stock price.