Investing.com -- Stocks were rallying on Monday to kick off a new week of earnings reports, highlighted by big tech companies starting on Tuesday, and before the Federal Reserve's interest rate decision on Wednesday.
Microsoft, Alphabet (NASDAQ:GOOGL), and Meta Platforms report this week as tech stocks are rocketing higher on euphoria over the promise of artificial intelligence. But the companies will also provide updates on cloud-computing and digital advertising trends, and Meta could provide an update on its new social media platform Threads, which is a new competitor to Twitter.
The Fed is largely expected to raise rates another quarter of a percentage point, but investors will be listening to what Chair Jerome Powell says during his press conference for clues to the direction of future rate policy. Futures markets remain uncertain whether another rate increase is in the offing this year amid inflation data that shows prices cooling.
The second quarter reading of gross domestic product is due out on Thursday, and the latest take on the Fed's preferred inflation measure, the personal consumption expenditures index, is due out on Friday.
Here are three things that could affect markets tomorrow:
1. Microsoft earnings
Software giant Microsoft Corporation (NASDAQ:MSFT) is expected to report earnings per share of $2.55 on revenue of $55.4 billion.
2. Alphabet reports
Google-parent Alphabet Inc (NASDAQ:GOOG)is expected to report earnings per share of $1.34 on revenue of $72.8B.
3. Visa earnings
Payments giant Visa Inc Class A (NYSE:V) is expected to report earnings per share of $2.11 on revenue of $8.1B.